The Success Of A Small Business Essay

The Success Of A Small Business Essay

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An entrepreneur is someone who is tired of living in the shadow of his or her boss and decides to be their own boss. Over 50% of the working population work in small businesses, and of these small businesses 22 million out of 28 million are self-employed. Sadly, approximately 534,000 new small business get started each month but more than that shut down monthly. The US economy depends on entrepreneurs and their small businesses to survive. Yet most people never take time to think about how to start their businesses properly and keep them making money. No matter what financial status a small business is in, there are plenty of efficient ways to maximize their possible income.
One of the simplest ways to improve any company’s profits and success in general is to stay on top what is popular in the businesses field of work. Any knowledge is valuable knowledge, staying up to date on popular items in any given field will help distinguish your company from the competition, thereby making a business’s possible success rate rise that much easier. Another thing any legit company should always employ is a high quality product and service. Without a high quality product chances are the company will not last against any substantial competition. Granted, if a company can gain a good reputation for servicing a high quality product at the same price, if not lower than, a competitors’ product the life span of the company increases as well as sales. Spend the extra time to establish a plan to deliver top quality products and services throughout the company. Lastly, as a small business customers are everything, providing a product and making money is the ultimate goal but without customers to purchase the product there would be no business. A commo...

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... fee as a community service.”. A lot like the popular show Shark Tank minus the funding, the person applying for a mentor must first apply details of what the business is about, what steps they’ve taken to establish it, what they are selling and what they need help with.
Owning and running a small business successfully is no small task to say the least. Entrepreneurs are a special breed of people who are not afraid to take educated risks and put his or her wealth, and social life on the line. But if taken seriously and the correct steps are made, the success will be limitless. There is so much information everywhere we look to help aid small business owners become the best they can be. There are no magic secrets to becoming successful, everything needed is out there, it just needs to be used in the right way and the outcome can be whatever they would like it to be.

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