So You Want to Be A Small Business Owner...

You're thinking of starting a small business, but where should you begin? Here a few thoughts for starters. 

You're tired of "working for the man," or for that matter, working for anyone. Or is it just being "bossed around" by someone else that disturbs you? Maybe circumstances beyond your control have brought you to this place in life. Or, are you simply dreaming of being "your own Man" or "your own Woman?" If this describes you, then having your own business could be the best option to suit your needs. From my experience I've learned that some personality types are wired for occupational independence, and if that describes you, believe it or not, you're not alone. The small business owner is the anchor of the American economy. According to the U.S. Small Business Administration, over the last ten years 70% of all new jobs were created by small businesses that started with an idea and desire for independence.

However, before you decide to leave your job and start out on your own, the first thing you'll need is a business plan. Bluntly speaking, in all likelihood without a thorough plan the odds are against you and you're not going to succeed. A business plan is the heart of Step One on the roadmap to success.

The time you'll spend developing a plan will provide you with a tremendous amount of insight, and you'll be in a much better position to honestly assess the risk you'll be taking, and to the good, identify opportunities that accompany your business considerations. You'll be better equipped to make better decisions from the beginning.

In fact, as a small business owner there are many reasons why you may want a business plan - whether during the opening phase of the new business, or if you're introducing a brand-new product; possibly when purchasing a franchise or when your business has grown wildly. Whether you're looking to convince potential investors about the merits of your ideas, or sway lenders for a small business loan, you will be asked to present your business plan. It will either convince them that you know what you're doing and this is a venture worthy of their risking their capital, or it will not.  Naturally, you want it to be the former.

As a small business owner, you must keep in mind the six "M"s: Mission, Market, Message, Media, Method and Management. Your Mission in any business should be to know exactly what and how your products and services will benefit the client. The Market involves identifying your target clients and then finding them. Your Message should be clear enough to ensure your target market knows who you really are and what you have to offer them; you must be aware of the best way to get your message across. The Media can either be radio, television, direct mail or the internet. The Method, or technique, involves knowing what to do, when to do it, whose assistance you'll need to acquire, what tools and resources you'll need, and how to do it. Finally, Management involves operating your business to the satisfaction of your clients and your partners, investors or others who may be counting on your results. All of this includes planning, hiring, training, motivating and leading employees.

In the business and social environment, any startup business that looks to build consistently should consider having an online presence. Undoubtedly, as a small business owner, the establishment of your internet objectives is an important consideration that cannot be overlooked. In large part, keeping your desired goals in mind will act as a business plan on its own since it will help you identify how the internet can be used to achieve your communication goals and marketing efforts. But you would be well advised to move your plan from a well thought-out mental concept to a tangible document that can be accessed and referred to often.