The modern business landscape is amazing and historically unique.
Just look at how the internet provides the potential for accesses to cost-effective inputs, connectivity to customers, sales, and enhancement of brand.
Given increasing market risk, success is judged not so much on gross business unit production, but on net income to the small business operator, relative to increasingly-smaller amounts of capital employed.
Viral media is providing significant leverage to promote and position small-scale businesses on a permanently- profitable “small” basis, like never before.
Small ‘s’ small businesses, including home-based businesses, are the entrepreneurial growth engine of our economy.
With outsourced contracting, both offshore and onshore, we are seeing a fast reduction in the historical need for business owners to have precious capital tied up in financing:
– leased premises;
– employees and their development; and
– fitout of office space and machinery.
Like never before, small business originators can now start and continue their mission with a clear commitment to ‘small is beautiful’.
‘Small at start’ and ‘small along the way,” if done properly, provides ‘clear air’, for personal preferences for lifestyle, time for kids and family, and dramatically minimises the need for time-consuming and frustrating compliance issues.
Smaller businesses, worked properly, are being called upon to deliver long-term, lifestyle-wealth-creation goals, with diversification away from the business.
So what’s stopping you from keeping your small business ‘small,’ and profitability aligned with both your lifestyle and wealth creation objectives?
You probably do not have all, or most of, the following 10 things:
1. a product or service that is really unique to you and of quantifiable benefit to purchasers of it in the market;
2. market testing of your product or service, with testimonials;
3. a well-thought-out and documented business plan, aided by professionals;
4. good advice (business coach; solicitor; bookkeeper; accountant; graphic design; internet marketing etc)
5. a TM brand for your product or service;
6. an XL spreadsheet of your business, developed by you, and quantifying the sensitivity of positive cash flow from your business, as a function of product/service sales and costs;
7. a functional, on-line capability and plan to grow market and to collect $s from sales for your product or service;
8. access to world class internet;
9. support for you, and your product or service from government and bigger business;
10. the ‘tiger’ in you to continuously market your product or service in the community and at networking events both in Australia and overseas.