Do You Have What It Takes?
 

The Small Business Associations website actually has a useful psychological profile of people that are likely to succeed in their own business. Things like being a self-starter willing to work fourteen or fifteen hour days etc. In this business the real benefits are reaped by those tenacious individuals who continue to increase their technological know how. Keep their costs low and have sound business plans based around products and or models previously unproven.

Take this into consideration for a moment years ago sites that offered free pictures and movies under a specific theme (free sites) where the traffic vehicle of choice. They where superceded by one page sites (thumbnail galleries) that only offer a fraction of the content of free sites. At one time the largest trafficked sites where link lists now they are pages that list thumbnail galleries. This is a prime example of one business model being replaced by another. Recall that before ?reality sites? the main subscription sites relied on plug-in content and bulk photos. How long will it be before your current business model goes the way of the dinosaur?

As a small business operator you have to stay alert one shift of an industry trend in the wrong direction improperly gauged will send your ship into troubled waters. Your technology has to be up to date and more importantly you need to be able to manipulate it to get results. Are you emotionally attached to your products or services? Unwilling to make changes to your ?proven money maker? your inability to act could be stunting your growth! In a business the bottom line is to clear as much profit as possible while keeping expenses at a minimum. If you have lost sight of this goal and are content to tend your flock of sites and compete at a tempered pace, letting the so called ?big boys? dictate your patterns and actions like sheep it may be possible that you no longer really own a business perhaps you own a job instead?

The masochists make more than the sadists! It Pays to Like Pain!

It is my belief that to operate your own business you have to be bold and willing to undertake responsibilities that may cause emotional pain. You have to be willing to wake up early and go to sleep late work through lunch and finish a task to meet deadlines (if you are unable to set and meet realistic deadlines your organization is not organized). You must do all of these things while keeping a cool head, master your emotions and deal with all things rationally. While although seemingly difficult once you have created the habit of thinking like this you will start to see more possibilities than you thought existed for your business.

However if you cant you may find out that you wont make it in this business. That is not to say that you wouldn't be able to generate a living from this but is that what life is about? If you subscribe to the notion that money is a tool you will do all you can to amass as much as you can for future generations. Don't cripple yourself by ignoring the fundamentals of business or declining to be creative. After all every small business operator wants be a big business owner someday.

Things to consider:

Does your business have a thorough business plan charted for the next three years?
Do you have a backup plan if the first one fails?
Is your company structured to benefit from as many tax deductions as possible?
Is the timing right to enter or expand your position in the market your considering?
Do you have the skills necessary to execute your plan in a timely manner or will you have to acquire new skills in the process? If so you may want to reconsider your timeline and make it more realistic to your situation.