How to Make Big Money in Your Own Small Business: Unexpected Rules Every Small Business Owner Needs to Know by Jeffrey J. FoxEver dream of starting your own business? According to USA Today, more than 47 million people want to own their own businesses and over 20 million actually do. In How to Make Big Money in Your Own Small Business, bestselling business author Jeffrey Fox offers sound rules to succeeding in small business, whether youre running a bookstore, consulting business, or restaurant. In short chapters that range from administration and cash flow to marketing and hiring, Fox reminds entrepreneurs whats important and whats not, what makes a business succeed, and what causes it to fail.
Need a Business Idea? Here Are 55.
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Those leaving one career often think about their second or third career move being one they can run out of their own home. Create a flier outlining your services. Before you do that, you need to know what those services will be. Do you want to simply do bookkeeping for a small business? Other specializations can include tax accounting, a huge area of potential work. In many parts of the country, this business tends to be seasonal, but you can find ways around that. Rent a storage unit and offer to store people's bicycles over the winter after you do a tune-up and any needed repairs on them.
Not every entrepreneur starts out with a specific idea in mind. And with so many small business ideas, finding the right one is easier said than done. It may seem like all of the good business ideas or the best small ideas have been taken, but they are not. Most successful small business ideas come from individuals who work for someone and they believe they can do better. Some might start out as employees or apprentices for other businesses and then gradually build up the skills and experience before they set out on their own.
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Want to get really, really rich? Starting your own business is the best way. Want your upside to be unlimited?
The risks of starting your own business can be high, but the rewards can be well worth it. The fact is, however, more businesses fail each year than start. In , there were , new businesses started in the United States; unfortunately, there were , closures and over 55, bankruptcies. There are many reasons why a business fails. They include poor product concept, lack of a reasoned business plan, undercapitalization, insufficient marketing efforts, and changing market economics. So with statistics like these, how do you become a business success and not a business failure?