Should Your Startup Business be a Microbusiness?

microbusinessUnemployment is stuck at 8 percent in many areas of the country. People are facing lay-offs and trying to find ways to compete in today’s job market. One way to do this is to create your own startup business. You may think a startup business is out of your reach. Don’t be fooled into thinking a business needs to be huge to be successful. According to the 2011 Kauffman Index of Entrepreneurial Activity, U. S. startup business activity is still above the pre-Great Recession levels. This means more people are taking what they love to do and turning into a startup business.

It’s not just young people who are taking the entrepreneurial route to success. People of all ages are discovering the freedom and profit of owning their own business. Microbusinesses are typically businesses with five or less employees. Many of them start in the owner’s home and grow to become successful startup businesses. One of the keys to success is taking something you love to do, or are passionate about, and making it into a profitable startup business.

In the US entrepreneurship is equated with Silicone Valley, venture capital, and angel investors. But in many parts of the world it is the most common business platform. For example in the Third World almost everyone is an entrepreneur since the Western job market doesn’t exist. You either find a way to make money and support yourself, or you starve. Economic experts have expressed they feel a microbusiness revolution may be brewing. This harkens back to mom and pop shops and small startup business models.

Today technology makes it easy to create a microbusiness startup. Sites like Amazon, Zappos, and PayPal help small businesses get started. The internet gives even the smallest business a platform to attract customers. Before you build your website though you will need a clear picture of what you are offering. Is your product or service useful? Not is it a good idea, but will people want to buy what you’re selling or use what you’re offering.

You can get a clear picture of your startup business by crafting a short but precise business plan. Even a one page business plan is better than none. This will give you a jumping off point to create your startup business and keep you focused on your main effort as you go along. Another important tip for microbusiness experts is to expect to succeed. So many people create a startup business with a negative expectation. Remember if you have a clear picture of what you’re offering, a plan for your startup business, and the passion you will succeed. The first step is to just do it.

If you enjoyed this post, make sure you subscribe to my RSS feed!
Posted in Startups.

Leave a Reply

Your email address will not be published. Required fields are marked *