Today, we launch HDUFocus Business Reviews. We’re a collection of like minded individuals that will tell you what things are like in the business world. We have all run successful Small Businesses and we want to offer our tips and tricks to those of you out there getting started with your own business.
Given that Small Businesses make up over 99% of all businesses in the United States, it’s an important topic to speak about. Why not have all of your information in one place? The best part is – you’re getting your SMB news from a group of SMB entrepreneurs running an SMB right here online!
You can be one of the 28 million small businesses in the USA. There is a large risk when starting your own business, but there is also a lot of reward.
You get to be your own boss. This is both a benefit as well as a negative, depending on how you look at things. You’re responsible for every single thing, from paying rent in a building, buying equipment, vehicles, paying wages, buying inventory, and everything in between.
But, on the flip side – you get to hire and train a staff to do the work for you. You get to bring in the additional revenue after your expenses, so if you do things correctly, you can make a lot more money than if all of that was going back to someone else.
The most successful businesses solve a problem. You’re not going to open your doors and have people flood to you if you’re not solving a problem they have. If you’re a bakery – what problem are you solving? Maybe you’ve got a special vegan recipe, you’re in a location that you’ve found is far enough away, or you’ve got a famous endorser? You can’t expect wild success unless you’re solving a problem or filling a specific void.
That’s the first step to building a successful business. The second step is around making a plan, which we’re going to cover in our next post. Thanks for reading, and we’ll see you in our next blog article!