There are only about 290 million people in the United States, but there are 6 billion people across the globe. Think about the profit if you can capture even if a small fraction of that huge market. But unfortunately most of the small businesses never think about expanding their reach beyond national borders. Even though [...]

As mentioned in the previous post about small business management, writing a formal business plan is very essential to the planning process of a business. A business plan will cover all your master plans about how you want to achieve the things that you want to achieve. Take your time in writing a business plan, [...]

The Small Business Administration has reported that more than 90 percent of small businesses fail just because of poor management. Management is a broad term which can be described by planning, financing, marketing, human resource development and accounting. In this post I will describe 5 essential steps towards successful management of your small business. Begin [...]

As an entrepreneur, the most hated thing would be to see the bank accounts diving down or going bankrupt. Small-businesses are relatively less risky and easier to run, but there are many common mistakes which entrepreneurs make which lead to inevitable failure to the business. In this post 17 such common mistakes are listed below: [...]

No matter how energetic or self disciplined you are, if you don’t have a detailed and guiding plan, it’s very unlikely that you will succeed in your business. Planning is a continuous process. Plans made for yesterday’s market might not suit tomorrow’s market. That’s why before jumping into a business; it’s a must to measure [...]

Once you are sure about having the attributes of a successful entrepreneur and after choosing the form of business ownership you want to adopt, it comes one of the most challenging part of running a small-business, which is financing or funding. Choosing partnership ownership structure will reduce the stress on personal assets a little, but [...]

Not every person who starts a business has the goal of growing it into mammoth proportion and wisely so. Many people and young entrepreneurs are interested in enjoying a balanced lifestyle while maintaining the kind of business that he wishes to maintain. In this post I will point out the pros and cons of such [...]

Thinking about establishing a new small business of your own? But having trouble deciding which form of ownership you should go after? Well, you have come to the right place. This post will guide you through the advantages of having a partnership business than a self proprietorship. More Financial Resources Financing the business is often [...]

There are many compelling reasons behind wanting to become an entrepreneur. But the question is, will you succeed as an entrepreneur? Do you have what it takes to become an entrepreneur? In this post I will discuss the attributes of an entrepreneur so that you can evaluate yourself and see if you are cut out [...]

Entrepreneurship, in simple words, is accepting the calculated risk of starting and running a business. Why do people voluntarily accept this risk? Why do people set up their own businesses and work very hard seven days a week, 14-18 hours a day, when they can work for others which will need less than half the [...]