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Start a successful business. It requires hard decisions and sacrifice.

Want to start a successful business?

There are some rules.

Stay tuned for some easy to remember and necessary advise.

You can't take Grandma's favorite recipe and expect it to be your ticket to success.

Also be prepared to put friendships on the shelf for a while.

You will know who your friends are later. Does that sound harsh? It is. If you are successful, you will have more friends than you thought possible. If you fail?

Well, I think you may get the idea.

I will give information in installments so you can take it step by step and decide if being an entrepreneur is the path you really want to take in life. To be sure, it will be a life choice. One of the most important choices you will make. Deciding whether to start your own business can bring you tremendous rewards and pleasure or it can break your heart and bring you untold misery. If you have a family, it is double important. They must be part of your decision.

Television today floods our senses with the visions of success of people from almost all walks of life. However, they fail to show the failures and results of the many who try and don't make it. That doesn't make good entertainment. You can find any of the statistics for failure you want on the internet. The fact is almost all business startups fail in the first year.

But the good news is, you can be successful. Most successful businesses have failed at least once, and many have failed more than once. You will never hear that. Successful businesses have been through many iterations. An idea, any idea is just that, an idea. You can make all of the plans you want, but when you take your idea to market, many things may have changed. Financial requirements can be different, demographics may have changed. Your product may no longer be a trend.

Being an entrepreneur means you are not stuck with your feet in concrete. You have to be able to go with the flow and change your business model on the fly. If your competition is meeting everything you do and they are not going to let go of their customer base, you had better have another plan to counter.

When you go into business and enter a new market, you can look at that market as a large pie divided into slices. There are just so many dollars available for that market and the existing businesses are not going to let them go easily. You are going to need to take that business away from someone and that makes their share smaller. In other words, somebody is going to fail and you to need to be sure that somebody isn't you.

All businesses have winners and losers.

Of the local business's that you frequent and try to support, some of them will not make it. It could be the product, the location, the prices, the unrelenting competition and any number of things that are too numerous to list. But losing their focus with the basics is usually the answer and the reason.

Before you try to realize your dream, plan on doing some homework and deciding if you are ready for the hard work and harder decisions.

Jack's next Blog, How to start your own business.


 Progressive Daily Blog of News, Business and Travel 

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