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An essay on how social media helps to grow small business
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More small businesses succeed in the United States rather than fail because a majority of the United States jobs and products come from small businesses. Small businesses not only provide many jobs for America but small businesses also help hold small communities together. Here are nine tips that are greatly helpful for small business success and why. 1. Stay current. You should constantly be doing research in your field and making relations with associations connected to the products you are selling. 2. Put together a solid financial plan. You need to know at all times where you are financially with your business short term and long term. Create a budget to stay on top of your monthly progress. 3. Perform cash forecasts. Creating a budget …show more content…
Businesses with fewer than 100 employees account for 98 percent of all companies in the United States, roughly two-thirds of the country 's jobs, and one-third of its gross national product. They also make up a significant part of the action in many industries: half of the turnover in the travel industry, for example, and one-third in the telecommunications industry, worth $80 billion and $57 billion, respectively. In other words, small business is big business. Merrill Lynch realized the potential of small (and medium-sized) businesses in the early 1980s, when it created a division to focus on their needs. Other companies too are realizing that serving this market effectively is essential now that aggressive growth and revenue goals are intensifying the competition for the largest customers. Ameritech, Federal Express, Wells Fargo, KeyCorp, and Dell are among the businesses that have increased their revenues and profits alike by finding ways to target, attract, and retain small customers (Davis). As I had also stated above not only does the United States small businesses provide many jobs, but those small businesses help hold communities together. Like Mary Loden stated the cycle just always keeps going
As with many small business owners they vision of their business usually only extends to their own abilities. They are driven and full of determination and believe their abilities will be able to sustain the business to success. Unfortunately, many small businesses lack the knowledge to be able to effectively be owners’ and leader’ to their organizations.
There comes a time in a business owner’s career where they will be faced with the decision of whether to expand or to focus on other goals. Goals that focus on creating a healthy work environment, providing great customer service, and giving back to the community. There are a number of small business owners that have decided not to expand and have ultimately created small sustainable companies that are thriving in today’s market. Bo Burlingham discusses the principles of a “Small Giant” and the “mojo” that these small businesses posses in his book Small Giants. All of the businesses that Burlingham describes in the book are privately owned, and their primary goal is not the growth of the company but being the best at what they do for their customers. The principles discussed by Burlingham are relatable and useful when recruiting and selecting a sales force team.
As I’m driving down main street, I notice that Santaquin is a small and quiet town. The post office is an older building and the bank rests in between some trees. Stone Ridge Plaza is a tall and proud building. As the tallest building in town, standing a total of four stories tall it stands firm saying Look at me see how wonderful I am. Three stories is dedicated to apartments and housing for people. The First floor is meant for business. The only problem is, that so many different businesses have been in and out of that building you never know what 's there but, why does this happen? I believe that it is due to the fact of many different reasons. Some of the reasons are as followes.
There are over 28 million small locally owned businesses in the United States and 70 % of these businesses are owned and operated by a single person. Owning a small business is not an easy task it takes hard work and dedication, Steve Jobs once said “you need a lot of passion for what you’re doing because it’s so hard”, people don’t realize
How can support and sound business advice help business owners? Starting up a fresh business in today's financial circumstances is not a fairly easy task and small company advice isn't easy to get to help the business enterprise for growing an effective and profitable empire that you can count on. For every business proprietor, the business should be a secured asset, offer ways to arrange for their future. Most of the companies will rely on the business to invest in their retirement living in their later years, but with no right buildings and knowledge set up, this is an extremely difficult goal to accomplish.
Keep away from people who try to belittle your ambitions. Small people always do that, but the really great make you feel that you, too, can become great. Following ones dreams and not giving a second thought to the comment of the people who put us down is what creates a successful entrepreneur. Spending time with people with a positive image and attitude can help one get motivated and realize their goals. Persistence can make everything possible, for persistence is an excellent demonstration of ambition. If one wants something to happen, one must, as a singer one put it, ‘pick themselves up and try again.
Although small businesses do not make a lot of major deals with large investors, most small businesses create profit revenue greater than large corporations. Small business creators are very brave considering only ten percent of small businesses survive. Unfortunately, some communities do not support local small businesses; they only support the large brand name and force small businesses to die out. Since small businesses will not have a name brand known around the world, many people from communities will not support them because they are not known on a national scale. “This, in turn will affect the local economy and drive capital out of their local economy. On average, for every one hundred dollars spent in an economy, if spent on a
Starting and building a prosperous business is an ambition of many entrepreneurial minds and has for
Micromultinationals: Businesses with less than a dozen employees that sell to customers worldwide and often draw on worldwide supplier and partner networks
Small businesses have been considered the mainstay in countries around the world. In many European countries for example, the small business has been considered crucial to the success and flourishment of the country in general. Most individuals start upon a small business venture in the hopes of realizing ownership, independent profits and personal success. Small businesses can prove extremely successful when planned properly. Studies suggest that several small businesses, however, close or fail within the first few years of operation. This failure suggests that a majority of small business owners may not have as yet realized the crucial success factors necessary for successful implementation of a small business.
Eight out of ten small businesses fail within the first eighteen months, that is the cruel fate of many small businesses opening in Pennsylvania, let aloneAmerica. Small businesses are the the number one source of jobs in Pennsylvania, yet everyday people choose against them, they shop primarily at the big box stores and forget about the small businesses around them that got everything started. The people of North East Pennsylvania (NEPA) often tend to be closed minded to new ideas and long term benefits. Ever since the economic recession in 2008, small businesses have struggled to compete with the lower prices that large chain stores offer like, Wal-Mart and Target for example.
Shaw, E. (1997), “The real networks of small firms”, in Deakins, D., Jennings, P. and Mason, C, (Eds), Small Firms: Entrepreneurship in the Nineties, Paul Chapman Publishing, London.
find it difficult to set up a business and make it a success. This is
Starting a small business is often one of the hardest things a person can do. Some people start a business out of pure fascination, or even as a hobby. Whether starting a business for personal reasons or simply the grandeur to make loads of money, everybody needs to have a plan. Starting a small business is no easy task and can take days if not months to prepare. The most important aspect to have is the tempura and heart to start a small business, as without passion, no business can succeed. One has to be his or her own boss, make dream, reality and be willing to market and sell a product. It takes a lot of discipline, long hours and hard work, something many do not have. However with the right willingness, passion and dedication a business can be the start of something big.
1. WHY? Develop your "why". As an entrepreneur, not all times you have in business will be perfect. In fact, there will be many, many difficulties along the way. However, if you can develop your why, you can achieve success. Your why must be this personal, passionate, emotional drive that keeps you going, when the world tells you to give up. It is the reason you commit and work so hard. Pushing on when it seems all the odds and world is against you. Your "why" becomes your driving will to wake up and do it again tomorrow.