Getting started in a new business is never easy. There are many different avenues in which one can pursue but no matter what road you decide, there’s sure to be lots of competition lurking around the corner.
Even a company that digs into the dirtiest of jobs will encounter stiff competition as long as the population and money in the industry justifies it. Take for instance a sewer line repair contractor who has to work in raw human sewage. You’d think that people wanting to get into a business like this are few and far between. But there is quite a bit of money to be had on your run of the mill sewer line repair. Usually well in excess of $4,000 on a simple residential job.
That’s why there are so many people out there trying to do it. No matter what the business is, there’s going to be others out there doing and trying to make money off of the same things you are.
The big questions that really remains is just how do I survive this rat race? How do I differentiate myself from the competition? What sets my company apart from all of the otter’s out there?
Several things make a small business successful but not many small businesses survive. Over 70% of all new small businesses fail. Here we’ll discuss some ways to help your new small business succeed and weather the storms.
Diligence is a part of the business that most people don’t realize. Late nights and long hours are in the cards for anyone who wants more than the 9-5 position in a cubicle with a jerk for a boss. If you truly want to break way from this lifestyle then expect to work more than you would have in your 9-5 position.
The days of coming home after clocking out at 5pm are over. Your new business will require your full attention and you’re going to have some late nights in the office and even at home on the computer. Nights and weekends don’t wait for your businesses needs to subside.
With the extra work comes along the service aspect. Whatever you have to do to make the business work will be your number one motto. You will have to kiss customer butt to build your reputation.
Weathering storms is another important trait a small business must possess. Downturns in the economy or in demand. Being able to adapt and morph the business for the changing landscape, technologies and consumer demands.
Stubborn business owners that refuse to change with the times rarely survive the long haul. Of course there are a few exceptions to these rules but being aware of ones surroundings and the oncoming changes is important for a businesses ultimate survival.