Can Small Businesses Succeed Globalization?

The Small Business Administration statistics showing that 7 out of 10 businesses survive at least 2 years, and 51% survive at least 5 years, are a far cry from the long held belief that 50% of small businesses fail in the first year, and 95% fail within the next 5 years. While failure is the last thing you need to concentrate when you open a small business, addressing it upfront will most likely save you from being a victim.

The uncertainly about the future of small businesses is being fueled by the federal debt and deficit with the threat of taxes and regulations as the most significant issue. While only 20% of small-business owners believe that the nation’s best days are ahead, many of them think the government should provide more certainty in providing assistance.

With the uncertainty, about what the government will do next, it takes hard work, and a success oriented attitude to succeed. Most people are not cut out to running their own business. Some of them are either overwhelmed or too lazy to use the appropriate marketing efforts for their business.

The Boom in Internet Marketing

The boom in Internet Marketing and the idea of globalization spreading its wings across the world have increased job opportunities. Conversely, when recession became particularly common and pink slips were the office norms, life became particularly difficult for a lot of people. Many of them have utilized the use of the Internet to sustain and succeed in their professional life that it was used to be associated with people who do not have a steady job, mothers taking care of their children at home, or students who wants to earn substantial money because the capital investment is low. Whereas thorough knowledge and skills about how Internet Marketing works is necessary to help you succeed, there are other factors that could possibly weigh down your business.

1. You have to choose the business that you love and enjoy doing. You must possess the mental strength to face the challenges, the courage to learn from your mistakes, the patience to create intelligent solutions, and the positive attitude to deal with different individuals.
2. You must have the management, financial, and organizational skills to plan and manage the business operations. You must be a strong leader and a strategic thinker to be able to confront change and new possibilities.
3. You must have sufficient operating funds to cover all the cost to stay in business considering that many businesses takes about 2 years to get going.
4. As location is critical to your business success, choose a local SEO Company to help you succeed.
5. Careful, methodical, and strategic planning is critical to your business success. Your business plan should include:

• Details of your business, mission, vision and keys to success.
• Work force needed
• Potential problems and solutions
• Income statement, cash flow analysis and sales forecast
• Competitor analysis
• Advertising, and marketing activities
• Budget and business management development

6. Your business needs a professional looking and well-designed website so that users can easily find you and your products.

Business failure is not an option. Setback should be viewed as an opportunity to learn and grow. Arm yourself with a positive mindset, the determination to follow through, and the open mind to see what it takes to succeed.

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