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The Voice of the Black Community

Business

Have what it takes to start a business?
There's no time like the present to start
 
Published Monday, July 1, 2013
by Staff Reports

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PHOTO/OFFICE.MICROSOFT.COM
Advanced planning, research, proper tools and the right attitude can make all the difference when starting a new business.

Tired of taking orders? Have a great business idea? If so, business experts say now is a good a time as any to think about staring your own endeavor.

But do you have what it takes to do it all yourself?

A new survey of business owners, conducted by Deluxe, a provider of marketing services and products for small businesses, found that small business owners share many of the same tendencies and traits.

For example, when it comes to heredity and actual DNA, 76 percent of small business owners have relatives who owned businesses. The study also found that the vast majority (86 percent) of small business owners are ultra-confident, believing they can do anything they set their minds to doing.

The research also found a tendency to try and fail, then succeed. Seventy-seven percent of entrepreneurs surveyed said they would rather learn from failure than never try at all.

“With confidence, drive, tenacity and talent, small business owners will improve their chances of being sustaining and profitable,” says Time Carroll, vice president of small business engagement at Deluxe.

With that in mind, here are a few tips for those looking to launch a business.

Do your homework.

While starting a business involves risk, you can mitigate some uncertainty with proper research. In fact, 79 percent of small business owners research products they consume prior to purchasing, according to the survey – a tendency that far exceeds that of the general population.

Have a clear understanding of your market, competitors, expected startup costs, overhead and return on investment. Know who your customer base will be and learn as much as possible about them.

Build a brand.

Powerful branding differentiates a company from its competitors, making it easier for customers to choose that company for business relationships, and allows a company to get referral business.

However, don’t wing it yourself on your home computer. A professional design team can help you stand out for the right reasons. Unless it’s your area of expertise, consider seeking out expert assistance with letterhead, taglines, website design, customized email signatures and social media. For more information on making your company’s brand memorable and appealing, visit www.deluxe.com and click the “Idea Hub” section.

Communicate.

Whether you’re providing legal services or you’re a roofing contractor, technology has made it easier for business owners to establish themselves as experts by sharing their knowledge with current and potential customers. Use social media tools to deliver news, offer information and provide deals and promotions.

Optimize.

If you build a website they will come? Not necessarily. Text-based content is how Google determines what a site is about. Be sure to add keywords to your title page, page description, meta-tags and headlines. Finding a professional that can teach you the ins and outs of SEO (search engine optimization), can make all the difference when it comes to directing traffic to your site.

These days, you needn’t be Bill Gates or Donald Trump to be successful. The right tools and attitude can make all the difference.

(Source: StatePoint)

 

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