28 December 2017
Creating a Successful Business in the US and Canada
Published 28 December 2017
For the longest time, the 'norm' for earning a living has been to get a job. Though we all need a way to make money in life, recent times have shown us that there's an opportunity to be employers rather than just employees. Not only do business owners start their venture because they have a passion, they do so because they want a secure retirement and this is something people often forget.
If you've currently got an idea that's been on your mind for some time, now is the time to develop the plan for your own business, rather than searching for a high-paying job. At first, it's going to be extremely tough but your skill and determination will pull you through. As long as you're willing to work hard, your business could end up as big as you once dreamed and you won't ever have to be an employee again.
In today's society, there are many different startups but this doesn't mean there isn't room for your one too. Instead, it means you need to work that little bit harder to ensure success. Every morning, you need to wake up with a will to drive your business forward rather than feeling deterred by the amount of competition. If your business is based on a solid idea and you're determined to make it work, you'll soon see off those who lack the same passion.
Support from the Government and Loved Ones
According to recent statistics, small and medium-sized enterprises (SMEs) now make up around 99% of all businesses within the United States and Canada. However, even the biggest companies in the world once started in a similar position to your own venture; they didn't want to work for the big companies any longer so they decided to join them. As well as creating vacancies, all SMEs want to improve the lives of the community while also contributing to the national economy.
With SMEs providing such important value to the economy, the government now provides tremendous support to keep them alive. To promote growth and encourage more businesses to enter the market, they've introduced the following;
- Simple registration for all SMEs
- Easier access to lines of credit
- Tax breaks for the early years
- Government patronage whenever products/services fall within the budget
Even after this, they encourage new branches of business associations and support public organizations who show interest in developing startups. As a result of these changes, it's believed only 20% of Americans are employees so the steps really have worked.
In addition to the government, people generally support and encourage family members, friends, neighbors, and old co-workers when they announce plans to start a new business. While some offer funding, others offer their time even if it's for simple tasks like keeping the books in check. Although most small businesses are sole traders, they still have the help of friends and many others.
Successful Small Business Examples
Whenever a small business grows, they soon climb up the ladder and become medium and large companies. Although this journey may sound difficult right now, it's something that's been done time and time again and the stories should be used as inspiration.
For example, Kim Levin, and her brand, the Wuvit, has now accumulated millions of dollars in value. Rather than starting with rich parents or a huge capital, she started everything from home. As a housewife, she invested in a sewing machine which she then used to sew corn pillow. At first, her plan was to sell the unique products to people she knew for a few extra dollars. Soon enough, her products gained interest from all around the world and now it's a multi-million dollar company; she also writes books on the side!
Elsewhere, in Scotland, Fraser Doherty followed a similar journey. At just 14 years of age, he would sell his grandmother's jam to the locals. After dropping from school at 16, he wanted to keep progressing the business and now he sells over half a million jars each year. If you're interested, the brand is 'Super Jam' and it's more popular now than ever before.
Growing Your Enterprise
As we've said previously, success comes from hard work and determination. In truth, starting the business is the easiest part; growing it and finding success is where it gets tricky. If you keep your goals in mind and keep thinking about where you want to take the business, you'll stay motivated and productivity will soon come. Often, the early days are the hardest and, when your business starts to take off, it soon snowballs and the results get stronger.
Many years ago, the great Steve Jobs developed guidelines to achieving your goals and they included the following;
- View your business as a huge project and keep learning how to find success.
- Believe in your idea as a solution to help others; use this to develop a plan.
- Use mistakes as a stepping to stone to become better.
- Embrace challenges and don't give up when (not if) difficult times come.
- Study successful business owners.
- Ensure you have positive relationships with ALL stakeholders.
- Use criticism as a platform to grow; it isn't personal.
- Encourage others to follow in your footsteps.
- Your excellence can sell products.
- Build a legacy to leave after you pass.
- Continually reach and set goals.
Promoting Small Businesses
After taking the first step and starting your business, you need to reach out to customers in the right way. With the internet these days, we have various affordable tools and social networks as superb platforms to target customers.
In recent times, a new platform, Freldo, has been gaining attention for all the right reasons. For SMEs, this FREE platform is great for attracting new clients. While encouraging positive relationships with consumers, Freldo is the first site to allow customer interaction to this level. For entrepreneurs, there's a chance to make money from such interactions.
For users, they can add their trusted friends, colleagues, and family members to build a social circle. After using a service and the platform confirms they are a customer, they can leave feedback and recommend the service to their circle. After making recommendations, they earn money for honest reviews and you benefit from the increase in custom.
According to business experts, Freldo is a fantastic platform for up-and-coming businesses. As a reliable platform to reach consumers, sales can increase and it provides startups with the tools they need to succeed!