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Do You Want to Start Your Own Small Business?

small business how to start a business leadership qualities

This week in May marks National Small Business Week and I wanted to take a moment to share with you my thoughts on entrepreneurship and the importance of small business to our economy.

Why is Small Business So Important?

Small Business Week was created by the Small Business Administration to honor these business owners and organizations. Small businesses are so important to the American way of life and economy because the vast majority of businesses in the US are small businesses.

How much of American business is small business? In the US, 67% of businesses have less than 4 employees, and 99% of all businesses in America have fewer than 500 employees, according to Forbes. Small business is the backbone of our economy.

It All Started With a Dream

Company founders that have massive organizations now, started with a small business and a dream. People like Walt Disney and Bill Gates launched their dreams in miserable markets. They possessed great leadership qualities and most importantly, great drive. Companies like Wikipedia, Amazon, and Trader Joe’s were founded as small businesses and grew into something much larger.

These leaders and entrepreneurs took a chance during a bad economy and started a small business. They had the dream to do something that they loved and set off on their own. It all began with a dream and great leadership qualities.

Do You Have What it Takes?

If you have a dream to do something that you love and want to start your own small business, take a look at these principles for how to start a business from some of the most successful companies. After you answer these questions, download my FREE report “The Way to Wealth.”

1) Your Leadership Qualities. What results are expected of you, and what do your people need from you to contribute their full potential to your business?

2) Your Plan. What is your plan to generate greater sales and profitability, and how is it working? Could there be a better way?

3) Your Team. How do you attract and keep great people and inspire them to perform at their best in achieving business results?

4) Your Product. What are you great at building, who are your ideal customers, and what product or service qualities will attract more of them?

5) Your Marketing. What is your competitive advantage? What is that factor that makes your product or service superior to anything else available, and how do you convey this message to your potential customers?

6) Your Sales. What must your potential customers be convinced of so that they want to buy from you rather than your competitor?

7) Your Customer Experience. What do your customers need and want, and what can you do to make them so happy that they buy from you again and eagerly tell their friends about your business?

Watch my short YouTube video to learn more about how to start a business.

Take Action

If starting or growing your small business is something that you want to do and you are passionate about it, don’t let anything hold you back from achieving success. Business success starts with you, and you can start at any time.

Thank you for reading my blog on small business, and how to start a business. To continue reading about how to start a business take a look at one of my other blogs about taking action and starting your small business.

If you enjoyed what you read, please share it with your friends.

About Brian Tracy — Brian is recognized as the top sales training and personal success authority in the world today. He has authored more than 60 books and has produced more than 500 audio and video learning programs on sales, management, business success and personal development, including worldwide bestseller The Psychology of Achievement. Brian's goal is to help you achieve your personal and business goals faster and easier than you ever imagined. You can follow him on Google+, Twitter, Facebook, Pinterest, Linkedin and Youtube.

  • Jenny Jensen

    Amazing article. Truly said it all starts with dream, everyone wishes to start with a small business and make it large and this all is possible with proper planning which starts with basic points like working capital, risk management and all points you covered. We just need to plan and take proper action. I will definitely read ” Way To Wealth”.

  • http://www.anysite.com/ Sophia

    Interesting Read

  • paschal Egoigbo

    starting Small business in Nigeria environment is a different thing.

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