small businessEntrepreneurship is a great way to increase lifestyle flexibility, stabilize or supplement your income or just change careers.  There are many ways to get started in your own business and it is best to try a home based business or a cubicle rental if you are short of start up funds.

Be ready to work long hours to get started so prepare some frozen meals ahead of time so you won’t waste money on fast food or get run down from eating junk food.  If you are choosing a field where you have little experience but lots of interest, go back to school first.  A one or two year certificate program and an internship can gain you experience, credentials and contacts.

Networking is key in starting a business.  New businesses will have a small marketing budget so key in on trade shows and other events where you can hand out materials face to face.  People will be more likely to utilize a new business from someone they have met and liked.  Use Social Media.  Facebook, Twitter and YouTube can all be great free marketing essentials.  If you don’t understand how to use them, network with those who can show you.

Here are some top business markets for up and coming entrepreneurs.  Some may offer franchise opportunities if you have some money to invest.  Only put your money into well investigated franchises.  Also, make sure your market area is not saturated with this particular business type.

Finally, get ready to succeed.  This is harder than it seems.  Many business owners don’t know what to do when the money starts rolling in.  Have a reinvestment plan, a growth structure and, if you plan to retire from this business, a sell out or phase out plan so that you don’t leave your loyal customers high and dry.

2012 The Year of #SmallBusiness

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