Small Business 101 - Deadly Ignorance

Released on: March 9, 2008, 11:32 pm

Press Release Author: Deepak Singh

Industry: Education

Press Release Summary: American small business is again in transition. Many
employees, now working from home, are no longer tied to a geographic office and the
woes of commuting. This is a relatively new phenomenon with hints of explosive
sector growth in the days ahead. As this turbulent economy has forced downsizing,
offshore restructuring and closures in large companies, many new entrepreneurs have
been born. These are people, who instead of tirelessly attempting to find new
employment and possibly enduring the same fate as previously experienced, are now
starting small businesses and enjoying the benefits and perils of self-employment.





Press Release Body: American small business is again in transition. Many employees,
now working from home, are no longer tied to a geographic office and the woes of
commuting. This is a relatively new phenomenon with hints of explosive sector growth
in the days ahead. As this turbulent economy has forced downsizing, offshore
restructuring and closures in large companies, many new entrepreneurs have been
born. These are people, who instead of tirelessly attempting to find new employment
and possibly enduring the same fate as previously experienced, are now starting
small businesses and enjoying the benefits and perils of self-employment.

There\'s an old story telling of an Admiral\'s decision to fight a battle against
overwhelming odds. It seems that he was approaching the coast of an enemy land, with
a larger naval force closing in from behind and a great army approaching from the
land ahead. He prayed and then addressed his men. He announced that their battle
weary forces would land on the beach ahead, dig in and prepare for the upcoming
battle. There was no turning back and no other alternative. He ordered their ships
burned after they landed. Their only choice was to fight to win or perish. They
defeated their enemy because he eliminated any other escape route. They were fixed
on the goal of survival and none other.

That is the same attitude we as entrepreneurs must take. We cannot afford to be
denied. We must grow and prosper or our business will surely perish. We must
constantly be looking for ways to cost-effectively market our business and increase
sales. We must control costs and have sufficient cash flow for daily operations.
Each of us must be persistent, relentless and vigilant. As CEO, we are the
manufacturer, the sales team, the marketing department, legal office, accounting
office, human resources manager, IT manager, the webmaster and so on. We can\'t
afford to be all these positions. Our job is to sell! We must locate cost effective
resources to help us grow and protect our investment in our business.

The growth of the internet has changed our marketplace as well. Years ago, a small
business owner decided upon a geographic chunk of the market and set up shop. Today,
that shop is typically located in an office at the entrepreneur\'s home. The
marketplace is now the world. The costs of marketing products and communicating
worldwide are so low that almost anyone can take part in this revolution.
Sophisticated voice mail, cell phones, email and effective ecommerce web sites now
provide the illusion of size and grandeur for even the smallest home-based business.
The end customer typically has no idea whether their supplier is local or across the
world. He may be dressed in a shirt and tie or in his pajamas! All that typically
matters is that the exchange of product and services is successfully made for a
profit.

It is critically important for the small, home-based entrepreneur to be aware of
resources available to her as she makes this great leap. Too many people leap
prematurely into business only to fail because of poor planning and insufficient
financial resources. Do not get caught in this trap. Don\'t quit your day job until
you have enough cash on hand to pay the bills for at least a year into your new
venture. Become aware of and develop the resources available to you. You want
everything possible going for you as you make this leap of faith into the
entrepreneurial world.

Here in South Carolina, we have the outstanding Women\'s Business Center
(http://www.scwbc.org), a division of the SCMEP, South Carolina Manufacturers
Extension Partnership (http://www.scmep.org), one of the best kept secrets available
to businesses at all levels in our State. Other States have similar programs modeled
after ours. These are incredible resources, partially funded by the State and
private resources, available at little to no cost to entrepreneurs, with the purpose
of aiding the successful growth of small business.
There are also numerous magazines devoted to small business, home-based business,
marketing, sales, accounting, etc. Get tuned in to these and other resources
available to you. Read your industry publications to stay abreast of competition and
other facets of your business interests.

A single legal issue, FACTA problem, accounting error or marketing miscue can put
you out of business. In the case of FACTA, insufficient security or poor
record-keeping these days could find you legally responsible for a single employee\'s
identity fraud issue, which may end up being very costly. A single lawsuit or vendor
dispute can shut you down. Many entrepreneurs are ignorant, ill-prepared and
under-schooled with regard to these and other issues. Do not get caught in the
deadly ignorance trap.

There is more opportunity available today than ever before for the wise
entrepreneur. Get all you ducks in a row before you make the fateful leap into the
new world marketplace. Be smart, learn all you can as quickly as possible and take
action on your ideas. Like the Admiral, be determined to win in the face of what may
appear to be overwhelming adversity.



Web Site: For More Free Resources visit www.greateducationonline.com

Contact Details: Malik Pur.P/O Cholta Khurd. Teh Kharar,Punjab

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