How To Build Your Own Business
Every day, millions of Americans think about the American Dream and roll their eyes in disdain. Where is this American dream and why i do not have a piece of that glorious pie? You may have an Ivy League education or you may be a high school dropout. Either way, the path to true, independent success, is dependant upon the same things. Creativity, ingenuity, hard work and perseverance. If you possess a large quantity of the above traits, there is a good chance you will make your business a success.
And that is, fail the chance to become CEO of a huge corporation or a celebrity of some kind, the only real path to enormous financial success in this country. Otherwise, you are always simply making money for someone else. Someone else, who had the drive and creativity that you either do not have or are too afraid to use, will. If you are not afraid to use it and you are ready to start building your business, here is what you have to do.
First things first. To build a business of any kind, you will first need capital. Now, you may be lucky enough to be independently wealthy to begin with but if you are like most Americans, this is the part where you are going to need a loan. It is the getting of this loan that your business degree may most come in handy. Lenders like to see such degrees before parting with their money but it is not the only important factor.
Obviously, presentation is half if not more of the battle. You have to convince the bank that they are taking a reasonable chance with you. You have to make the banker see what you see, the potential for profit in your business model. If you feel nervous about this prospect, just repeat to yourself one thing. Bill Gates was once in the same position, feeling the same nervousness. And he was turned down for several loans before finally getting one. Thats where perseverance comes in. You must have it or you will not succeed.
If you are moving into a sector of business where you have already made contacts, now is the time to get in touch with those people and let them know you are going into business for yourself. Tell them what will set your business apart from others of your kind. Extend them a discount of some sort. Encourage them to tell their contacts in the business world about your new endeavor. One thing that all successful businessmen have in common is their remarkable ability for self promotion.
You will need that trait if you expect to succeed in the business world. If you are the wallflower type, you may want to think about a different line of work. What you must do next and continue to do throughout the life of your business, is research. You must become an expert in the field. Whatever that field might happen to be. Whether you are selling, office supplies, gasoline, tires or widgets, you have to learn everything there is to know about your business.
That means researching the history, keeping up with the latest trends and following up on that with your own innovations and ideas. Studying the past can help you avoid mistakes that others have already made and studying the future will give you the edge you need to think ahead of the curve. No new business finds success by doing the same old thing. You need to come to the marketplace with something new, even if its only a minor change.
Obinna Heche: Los Angeles- California
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