What You Need To Know About Accredited Online Training

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Dream Job
Many people dream of owning their own business. Some make their dreams come true and some still
dream of the ultimate - owning their own business. No matter what it is that fuels your dreams, it is up to
you to bring them to life.
Owning your own business has incredible rewards but they do come at a price. The price can include overcoming
your fears, working harder than ever, learning new skil s, and working with integrity and tenacity. Is this a price you
are wil ing to pay for the freedom of being your own boss?
Many people succeed as smal business owners so there is no reason why you cannot join them.
What helps your Success?
There are many keys to smal business success but the fol owing wil help you achieve the business goals and
financial freedom you want:
research your idea
write a business plan
look at marketing strategies
research your audience
create a budget
Even more so today, many smal businesses start at the very grass roots level in our homes. And many smal
businesses start as a hobby that turns into dreams of becoming a profitable business. Becoming a smal business
owner can be the way to take control of your working life. Consider starting out part-time and work towards phasing
out working for a boss.
When you reach the point where you realise you are surviving and not worrying too much about paying the rent,
you can start looking at the benefits of your achievements. So, what are the benefits of working for yourself?
Control your Life/Work Balance
More and more we seek life/work balance. The popular catchphrase is `worker smarter not harder'. Being in
control of your business life gives you control of your entire life - flexibility and independence is total y yours to
control. In the first few years this may not be as apparent as you build a reputation and client base. If you use
persistence and hard work, balancing your life wil become easier the more successful your business is.
Personal Empowerment
Have you ever looked around your workplace and seen things you wish you could just walk away from? Maybe a
culture that promotes fear or just a job you do not real y like. Creating or going into business for yourself is the
opportunity to create a work environment that suits what you want to achieve and can reflect your personal
Sure there are times you wil find yourself in a situation you do not like or taking jobs you may not real y want to
grow your business. This is about building solid foundations and is the basis of any smal business success. Lay
the foundations and reap the rewards later on.
Then there is the knowledge you gain - maybe you further your education to arm yourself with the knowledge to
turn your ideas into a successful business. In business you are always learning and smart smal business owners
keep upgrading their skil s to stay on top of a changing market place. Knowledge personal y empowers you with
the confidence to make sound decisions and see beyond the obvious.

Personal Satisfaction
The personal satisfaction you get from achieving your goals wil drive you forward and motivate you to set new
goals. It gives you personal confidence and a belief in your integrity as the demand for your services and good
A sense of security within yourself wil make you want to achieve more. A good philosophy for smal business
owners to consider is not `how much can I make out of a potential client' but `how can I best service a potential
client to meet their needs'. You'l be surprised how this type of attitude attracts good clients which brings plenty of
rewards along the way.
Whatever level of achievement you want to reach, the smal business basic requirements are the same:
business skil s
industry knowledge
business planning
knowing your market
Financial Rewards
Of course there are the financial rewards. Sure, it may be tough for a few years but once you stabilise and have
solid business growth you start to enjoy the rewards of financial success. Whatever these may be you have the
personal empowerment to use them to help you achieve other goals in your life. Once again there is the personal
satisfaction in being in control of your life; the freedom to make choices whatever they may be.
Being a smal business owner takes stamina, vision, compromise and, sometimes, sheer tenacity. But, there is
nothing more satisfying than achieving your dreams and being total y independent and responsible for your own
If being a smal business owner is one of your dreams the first step to achieving it is research and knowledge. Take
a look at what skil s you lack and take some courses to bring you closer to achieving financial freedom. And join the
growing ranks of people working for themselves.
Franchise Businesses
Are you thinking about putting up your own business franchise but aren't so sure what to do or how to
start it? In reality, there are a few things you might want to consider before venturing into franchise
businesses. This article will guide you on how franchise business works and will help you determine
whether or not it is right for you.
Franchising - What Is It?
Famous fast food chains like that of McDonald's is one of the wide arrays of franchise businesses you can choose
from. Franchising involves carrying a famous brand's name as wel as using their unique sense of business,
marketing, and operation strategy as your overal business agenda.
The popularity of the existing brand franchise business you chose makes a faster return of investment because
you do not need to build up on public awareness. You wil not have any problems on how to work your way around
the franchise as wel because you are using a proven business system that reels in huge profits.
Franchise Business Vs. Ordinary Business
According to study, franchise businesses are far less risky as compared to ordinary businesses regarding
investment. The main reason for this is the proven management strategies being implemented in a franchise
business. Most smal businesses go into bankruptcy because of poor management. The managerial knowledge is
just one of the aspects imparted to the business owner as he leases a franchise.

Better Deals and Savings
When you carry the name of a famous brand, you wil get better deals from suppliers. In some cases, the franchise
company purchases supplies in bulk from their suppliers and distribute it to their franchisees with the same savings
they get. As compared to smal business owners, some suppliers wil tend to give them higher prices even when
they buy bulks of supplies, simply because they are not famous enough.
Public Awareness
Let's face it, as customers, we are bound to choose the wel -known brands and often disregard the not-so-famous
brands. This actual y applies to everyone. Say for example you are traveling to a new place and you came across
two food chains, one is named Barnyard Joe's Burgers and the other one is Burger King, which one would you
choose? The answer is obvious, right?
What Do You Need In Starting A Franchise Business?
Initial Fee
The most obvious part of franchising is the payment of fees to the franchise company. Often cal ed the up-front
entry fee, this is the initial amount of money to be paid as the business owner signs the franchise agreement
contract. This fee includes the right to carry the franchise business name, the franchise business know-how, and
the length of lease time which is usual y stated in years. When the contract is nearing its expiry date, the business
owner wil have the right to renew it.
Ongoing Fees
Aside from the up-front initial fee, the business owner is also required to pay royalty fees on an ongoing basis as
stated on the contract. These fees are calculated either from percentage of total sales or from a permanent fixed
amount. The royalty fees depends on the franchise company's governing rules of contract. As long as the business
owner is under the contract, the franchise company is entitled to extend their services and support to his franchise
Advertising Fees
As a franchise business owner, you need not worry about advertising because the franchise company takes care
of national and regional promotions. As a part of their franchise business community, you can total y benefit from
these advertisements. Al you have to do is pay for periodic advertising fees required by the franchise company.
Location Of the Business
The above mentioned fees are just 50% of the overal expenses you are going to make. The other 50% involves
looking for a perfect location for your business and furnishings. The franchise company can help you look for a
suitable location for your franchise business as part of their extended services. Often times, the contract states that
you should consume your personal money for the 40% of the total expenses on the location and furnishings, the
other 60% can be from bank loans you acquire.
Trade Secrets
As a franchisee, you are entrusted with the franchise company's trade secrets and business strategies. You are
bound not to redistribute this knowledge in any form or kind. This is one of the agreements stated in the contract
you signed.
Restrictive Covenants
As a business owner, you are also restricted to gain another franchise name that is directly competitive to your
already existing business franchise. Say for example you are already leasing a burger food chain franchise; you
cannot get another franchise business with similar business nature.
We have already explored the ins and outs of a franchise business and by now you have learned so much from it.
We also found out that it has more advantages than disadvantages. So, do you think franchise business is right for
How to Keep Business Costs Down
It is important for every business to minimize costs and maximize profits in order to remain successful. In

order to do this, it is important to implement a budget and this tool should be the principal mechanism for
controlling the business costs.
A budget wil al ow you to understand exactly where you currently stand from a fiscal point of view, wil al ow you to
anticipate the needs for the future and wil help you track actual expenses in order to adjust as necessary. A budget
is comprised of several components and each one needs to be analyzed, tracked and reported accurately in order
to stay on task and maximize earning potential. There are two basic sections to a budget, the forecasted budget
and the actual expenditures.
Planning a Budget
The first part of creating a budget is to look at the company as a whole and break up the financial picture into
separate categories starting off with the broad categories of income and expenses and breaking each of those
down into more detailed categories. Each section is a financial forecast using anticipated revenues and expenses
to come up with a complete financial picture. It is important to use a strategic plan as wel as an operational plan to
come up with the various categories needed.
A strategic plan wil consider the overal goals and activities in a company for long term results. An operational plan
breaks down the strategic plan into shorter term goals. Using those two as a basis wil al ow you to determine the
resource needs of the company. It wil also al ow you to use the anticipated results to determine the potential
revenues in the company. These factors wil be the starting point of the budget.
There should be an overal company budget that looks at the big picture but this budget can also be broken down
into departmental budgets as wel as project budgets. The more minute the details are, the better able the
company wil be to stay on track within each category. For example, if there is a company budget forecasting $1M
in revenue that may be broken into $100K for the sales department and further broken down to $10K for a
particular project. During the course of the project, you can gauge the effectiveness of the budget by comparing the
actual revenues against the forecast. This process works for both income and expenses.
Tracking the Effectiveness of a Budget
The second part of a budget includes the actual finances in the company compared to the forecasted finances. It is
important for each department to track and report accurately the income and expenses as it pertains to each
project. This can then be compared to the forecast to analyze the budget's effectiveness. If the actual expenses
and income are in line with the budget then you did a good job in the planning stages. However, there are always
unexpected costs or problems that may come up within a particular area. If this occurs, the budget is important to
help adjust where needed to maintain the overal financial goals.
For example, a project is anticipated to cost $1,000.00 and bring in revenues of $2,000.00 for a gross profit of
$1,000.00. But because of problems that may have occurred or additional resources needed to complete the
project, the actual costs increased. It may be necessary to adjust the budget in other areas to account for the loss
of profit. Non critical areas of the budget can be reduced in order to maintain the overal finances of the company.
The bottom line wil not be affected but an individual line item in the budget wil need to be modified. Or, the
processes that comprise the project can be analyzed for creative solutions to mitigate any loss.
Using a Budget to Reduce Business Costs
Regular and continual analysis of the budget wil help keep a company on track to meet their financial objectives.
There are various methods that can be employed to do this. If a significant discrepancy occurs between forecasted
and actual expenses, the processes within the project can be examined. There may be ways to streamline
processes or make it more efficient. There may be ways to cut costs on equipment or other resources. Or, if there
is no way to manage the cost on a particular project, it may be necessary to adjust the budget accordingly.
However, if caught early enough the overal financial objectives can stil be met by cutting in other areas.
At the end of the fiscal year, analysis of the budget versus the actual expenses wil give management an idea of
how wel they are able to anticipate their business climate. The prior year budget can then be used to create the
next year's budget, taking into consideration any adjustments that were needed during the course of the prior year
as wel as future goals. Overages in particular line items can be analyzed to come up with an effective strategy to
reduce costs.
If, for example, the amount used in advertising exceeded the anticipated amount, this can be an area of

concentration for improvement. Ideas can be sought, analyzed and implemented to find more effective advertising
means or less expensive advertising. Brainstorming with department experts in this area can result in a decreased
cost for the item with an increased effectiveness.
Using a budget successful y can help reduce business costs. It wil al ow business executives to see where the
company is as a whole, on a departmental level and a project level to gauge how sound the financial forecast is. If
a particular project is out of line with the budget it can be caught early enough to affect change. It is a tool that
should be used as a primary source of control within a company to anticipate and track the fiscal goals.
Is Business planning Important?
One of the most common reasons a new business fails is due to lack of research and planning. It is
imperative for all businesses to have a solid, well thought out business plan. A business plan is the map to
the overall goals of the company with detailed processes on how those goals will be accomplished. Those
who have a great idea for a business may have the potential for a solid business strategy but may not
have the skills to complete a thorough business plan. This can be highly detrimental to a start up
company. So, it is important to learn the skills needed to complete the research and documentation of a
business plan before embarking on your new endeavor. But, how do you get the skills needed?
One of the best ways to learn how to complete a business plan is to take a course in smal business management.
Not only wil this give you the skil s needed to create a business plan but wil also al ow you the opportunity to put to
practical use additional skil s to put your plan into action. This wil give you the advantage of taking your business to
the next level and ensuring you have al the tools to make it a profitable and successful venture.
A smal business management course taken online at an accredited training facility is the ideal way to learn
valuable skil s without sacrificing any time away from building your business. You can work at your own pace and
study as needed. The course is inexpensive and wil not take a lot of time to complete. You can learn in tandem
with building your company and put to immediate use the skil s you are learning. This method wil give you the tools
needed to create an effective strategy to map out your business plan and out it into action.
An online training course in business management wil teach you how to research business opportunities to
determine the feasibility of making your business a success. It wil also give you the necessary knowledge to
comply with the legal and administrative requirements of owning a business and how to create a safe working
environment. You wil be able to effectively come up with a business plan that wil give you a strategy to deal with
the daily operations of your business that wil al ow you to make a success of it.
Additional skil s that wil be learned include how to effectively promote your business and how to monitor marketing
strategies. You wil learn how top manage daily operations and finances to ensure the efficiency and soundness of
the company. Learning management skil s to motivate and monitor employee productivity wil al ow you to get the
most from your human resources. Developing skil s to help you assess work priorities wil give you a good plan to
address daily operations. Constructing customer service policies wil al ow you to ensure you have positive
customer relations, retain existing clients and expand your customer base.
Without a sound business plan, many start ups and expansion businesses fail. A business plan gives you the
necessary road map to grow your business effectively. Having the skil s to implement the plan wil further advance
your enterprise. An online smal business management course wil give you the necessary tools and techniques to
develop and implement a business strategy while continuing to al ow you to work on the day to day operations of
your business. You can get the necessary skil set to enhance your business and put your newly found knowledge
into immediate practice.
Is Your Workplace Safe? Occupational Health & Safety In Australia
Everyday employees head off to work, never thinking that they could get hurt there. Yet according to the
Australian government, each day the number of workplace deaths and accidents will exceed those that
occur on the roadways. In fact, every year workplace deaths will exceed dying from a disease. That's a
little alarming isn't it? So is your workplace safe?

Workplace safety is critical for the employees, but it's also critical for a successful business of any size.
Understanding the Australian OH&S laws and the risks within your workplace wil ultimately lead to a safer
workplace. And a safe workplace is a win-win for everyone. It wil reduce the risk of employees suffering an injury
or disease, and it wil save the business money.
An employer is required by law to provide a safe place to work. That safe workplace includes
Machinery that is safe to operate
Safety measures when dealing with substance
Information and training that is fine tuned to the workplace.
MSDS stations
Workplace inspections
It takes little time and it costs very little compared to the alternative of an employee that is injured or kil ed on the
job. Business that chooses not to comply with OH&S law can be prosecuted and fined, never mind the devastation
of knowing that proper training would likely have avoided the accident in the first place.
The OH&S Act and the codes and regulations contained in that act are in-depth, and vary from one situation to
another. Therefore there's no way that we can incorporate the entire act in one short article. In Australia each state
and territory is responsible for creating their own laws pertaining to occupational health and safety, and it is also up
to them to ensure that business abides by these laws.
An employee does not want to get hurt at work, and for the most part employers don't want to see their employees
injured. The trouble is without the right training a potential unsafe situation can occur. Without training an
employee may not even realize they are at risk. For example, let's use the office worker who types al day long. For
many years no one recognized the potential for injury. After al how can you get hurt just sitting at a desk? Then
suddenly carpel tunnel injury rates began to escalate and suddenly office work was recognized as having the
potential to cause injury.
The OH&S Code of Practice attempts to be proactive and eliminate the risk before an injury or disease occurs. The
regulations and codes detail the duties and responsibilities of the company to control the risks associated with a
hazard so as to reduce the risk of injury or il ness.
These regulations are legal and enforceable but the hope is that a business won't comply simply because they
must legal y, but instead wil comply because they value their employees and want to ensure that they are safe
from a human compassion perspective. The inspectors can come to any jobsite or place of employment any time
they want. They are al owed to record infractions and issue warnings or fines. They wil also arrive on site if there
has been an injury or fatality. Inspectors are much more likely to work with you to create a safe work environment
than fine a business unless the business continuously has infractions.
There is plenty of material available to aid your business, and online is packed with resources that can help you
assess your business and make necessary changes. Some businesses have specific needs, but using a general
checklist can assess the health and safety of your workplace. Whether you are the owner of a business, or an
employee of that business, making sure the workplace is safe is a group effort that everyone should take to heart.
There are many checklists readily available online.
It is important that business owners communicate directly with their employees and enlist their services in making
a work environment safe. This includes al owing employees to participate in the planning, purchasing, and
implementation process.
If there is not already someone onsite that is trained in health and safety, it's time you changed that. Large
companies wil have an OH&S Coordinator that oversees the implementation of safe work practices. They also do
training, and handle workplace accident claims. It's also common to have an OH&S committee that regularly
examines the workplace looking for hazards and suggesting ways to correct the hazard. Smal er companies may
have a manager or staff member that deal with occupational health and safety issues.
Regardless of how a business handles safety issues, it's very important that each and every employee know the
health and safety risks in their workplace and report any hazards they see to the appropriate person.

When a business is buying equipment it's important to find out if it meets or exceed the safety requirements for
your workplace. If you are purchasing used equipment this is especial y important. You should obtain al manuals
and copies of al maintenance records. You should also make sure al the guards and protective equipment is stil
in place on the equipment.
MSDS or Material Safety Data Sheets should be found in every workplace, even those that are strictly offices. You
might be surprised to learn that products such as white out are actual y hazardous when not used correctly and
therefore have an MSDS sheet. Of course companies that use a variety of materials wil have several MSDS
For those of you that don't know what a Material Safety Data Sheet is, this is a sheet of paper that outlines al the
information about a specific chemical including its composition, how to handle it safely, at what levels it becomes
toxic, and how to handle an emergency with the specific chemical. Every workplace should have one or more
MSDS stations and every employee should know where these stations are. As wel anytime a new chemical is
brought into a workplace each employee should review the MSDS sheet.
Every employee that wil use a new piece of equipment should be properly trained on that equipment. A business
should not assume that from one employee to the next wil provide adequate training. Always have a single person
do al the training on a specific piece of equipment.
It is important that the workplace provide the necessary training for a particular task or piece of equipment. Don't
al ow those that are not proper qualified to operate the equipment or do the task at hand. As wel , it is important to
have someone designated to oversee the jobsite and make sure that the work is being conducted safely at al
times. Don't assume a supervisor has the necessary skil s to do this. Instead if the supervisor is going to be the
person responsible for overseeing workplace safety on the jobsite, make sure they are properly trained.
Looking after your employees is very important. If health and safety is not taken seriously in the workplace,
employees are much more at risk of injury or disease, or worse death. While injury shows almost instantly as a
result of an accident, disease can take years. For example, workers that developed mesothelimia were actual y
exposed to asbestos 20 to 25 years prior.
Employees working in a healthy, safe environment are going to be much more productive so not only wil the
business win with increased production, they wil also win with reduced injuries and/or disease within their
organization. A safe and healthy work environment is good for everyone!
Promoting Your Small Business
Promoting and marketing your small business is one of the first important steps to increase revenue
especially when your company is struggling to compete against others in the field. There are many
opportunities online to help advertise to potential customers. The Internet allows you to promote to
millions of people with generally low cost techniques.
Newsletters are a great way to distribute information about your company to potential customers while providing
them with helpful information in regards to your industry. If your niche is in the healthcare industry, you can provide
great medical advice and tips to users straight to their email. Within the newsletter, you can provide your
company's information and link to suggestively give the customer a reason to browse your web site for services.
Web Articles
As most people know, being at the top of search engines especial y Google wil bring in plenty of potential sales.
Google's search engine spiders the Internet for the most relevant information in regards to a keyword search. Web
articles can be submitted to various depositories where Google's engine wil find the document. An article with
keyword rich information that describes a product or service you provide along with a link to your site wil push your
site up the search engine rankings. Most submissions sites are free, so it is little cost to the business owner.
Paid Advertisements
Certain companies like Google offer paid advertising to create a smal , keyword ad when a user's search matches
your ad. If your company is just beginning, search engines like Google or Yahoo wil al ow you to pay per clicks on
the ads. When the user searches a product, depending on the amount of money you are wil ing to pay, your ad can

show at the top of their results page.
Another type of paid advertising is having your logo displayed on sites through monthly payments. Many web sites
have page real estate devoted to online advertisements to paid subscribers.
If you're passionate about your business, a blog is a great way to discuss your product, issues, and advice while
promoting your business. Potential customers search for relevant information about products and services, and
your blog can have the answers they are searching. Providing great advice and answers is the new way to provide
initial customer service. By advising the customer through your blog, you can win the trust with the user by just
communicating through your blog.
Press Releases
Press releases are a similar article submission strategy, however, instead of discussing your product it directly
advises users about your business and its superior new services and unique products. They are a great way to
increase search engine ranking and to get the word out about your business and products.
When promoting your business, the online community is a wealth of simple advertisement advantages for smal
businesses at affordable costs. The Internet has become a major resource for potential customers to search for
products, so take the time to make sure your business is competitive in rankings.
Small Business bankruptcy
The consequences of small business failure are usually bankruptcy. The sad part of this is that bankruptcy
is usually avoidable and most failures are due to poor management skills and a lack of understanding of
the fundamentals of setting up a small business.
Defining Small Business Failure
The definition of smal business failure is when a business:
declares bankruptcy because it can no longer meet its financial commitments, or
closes down because it is insolvent and cannot trade profitably.
Closing a business for medical and personal reasons is not considered business failure as long as it is not
associated with financial problems.
What are the Consequences of Small Business Failure?
Not al smal business failures end up in bankruptcy. Many negotiate deals with their creditors, e.g. 80 cents in the
dol ar. Then the company and, in some cases personal, assets are sold off to cover the company's debt. The type
of debt settlement plans you put in place wil dictate whether you need to declare bankruptcy or not.
It is when creditors are not wil ing to accept a deal or have lost faith in your ability to pay they may sue and force
you into bankruptcy.
The biggest smal business failure, apart from the financial side, is the failure of your dreams.
How do Small Businesses go Bankrupt?
Business management is thought to be the most common reason businesses fail, and more than 50% of new
businesses fail within the first 5 years. This combined with external influences makes it difficult to survive unless
you have good business planning behind you.
It is not just bad debts, stock that sel s slowly, poor planning and lack of profits that wil send a smal business
bankrupt. These factors may contribute, but without building the essential foundations of your business from the
beginning, you can doom yourself to smal business bankruptcy.
The smal businesses that survive have several basic things in common:
good business plans

good financial structures and record keeping
good marketing strategies
good managerial skil s
good understanding of their market
are flexible
Often we are so focused on sacking our bosses we do not look at the ful logistics of going into business. It is a
mistake to go into business without a clear understanding of what or how to achieve your goals.
Avoid Small Business Bankruptcy
Did you know it was possible for most smal businesses to avoid failure? Steps you can take include plugging any
gaps in your knowledge - complete management training, learn basic accounting skil s and software packages;
learn smal business basics like how to plan your business and marketing strategies. Give yourself the best chance
to start your business off the right way.
Most people work for themselves to achieve lifestyle balance and, if you are not careful, you wil find yourself
working harder than ever. While in the first few years the reality is you wil work harder and longer hours, but with
good strategic plans and marketing you wil find yourself spending less time in your business. For example, if you
a web designer, your prices wil be very competitive in the first few years. This gives you the opportunity to prove
yourself and to earn a reputation and build a portfolio. The more popular you become the more selective you
become about your clients and your prices can rise to reflect the demand for your work.
Here are some tips to create a stable smal business that can help to avoid bankruptcy:
Do your planning. Do not neglect to continual y revisit your business plan to ensure you maximise the
opportunities that arise in a changing marketplace. To avoid smal business bankruptcy you need a flexible
attitude so that means flexible planning.
Be systematic. Put systems into place that makes running your business easy and less time consuming.
Systems wil make it easy for you to keep track of what happens in your business. It also makes it easier for
someone to step in and run it if ever needs be.
Keep records. Document everything to do with your business. It could become marketable intel ectual
property one day and it saves you a lot of time at the end of the financial year.
Hire good people. Having excel ent people in a happy, wel -adjusted workplace can be the difference
between failure and success. Investing in the right people can help your smal business avoid bankruptcy
and build better relationships with your customers.
Stand out from the rest. What can you do that makes you stand out from your competitors? How good is
your customer service? Why should people choose your business? What makes you better?
This is a simplistic view, but these are the basic principles behind any new business. Arm yourself with knowledge
and take on the business world without fear of failure or bankruptcy.
Small Businesses Provide Unique Advantages
In our society, we're often told that bigger is better. From sport utility vehicles to huge housing
developments to getting a job at a "large and reliable??? firm to secure our financial footing, it's really
ingrained into part of what we do. In the business world however, there are a number of distinct
advantages derived from being small. Today, more than ever, niche markets and specialized small
business can provide competitive advantages the "big boys??? could never achieve.
To properly quantify what makes a smal business, it's often a sole proprietor with a company that has five or fewer
employees, although slightly larger businesses with 20-50 employees are often lumped into this category as wel .
Despite it's smal physical size, many smal businesses cater to big clients that outsource a particular aspect of
their operations. Smal businesses can often provide a specialized service or products and command a wealth of
knowledge and experience when it comes to what they do. In this way they maintain an advantage over their larger

counterparts. Smal businesses can provide services at a lower cost and equal or better quality compared with in-
house staff who could have other responsibilities as wel .
In terms of management, smal businesses can also provide distinct benefits. A smal business can operate with a
flat management structure, so that customers can contact project managers and have key business decisions
made without unnecessary delays. Larger firms often have multiple levels of management and approval must be
received from each particular level before being able to move forward, which bogs down the process.
This also provides a smal business with a much greater sense of versatility. Many times business environment
changes demand a rapid response and adjustment. Many employees of smal businesses have a broad range of
skil s and experience rather than specialists in one particular area. So, if a database programmer needs to do
some computer repair, he's equipped with those skil s as wel , and someone else at the firm can take over his other
duties temporarily. This al ows a smal business to operate much more efficiently and has more of a capacity to
respond to change then a larger firm.
With a proper business plan and implementation, anyone can start their own smal business and be successful. If
you think you might not be able to compete with larger establishments, find a niche that you can cal your own and
consider how to make the many advantages of being smal work for you.
Why People Start Their Own Small Business
Why people do anything can be a mystery and why they do difficult things is certainly hard to fathom. I
mean let's face it, the vast majority of small business operations fail. They go bust. Yet every year along
comes another line of hopeful, would-be entrepreneurs. The odds are against them succeeding but that
doesn't stop them.
So why do they do it? Why do people start their own smal business? Wel there are a number of reasons which
include a desire to be independent, to be your own boss, to escape a lousy job, to make a fortune and to tackle a
chal enge. Let's examine those reasons in detail.
I Want Freedom
Then there are those people who want freedom when it comes to their job. They want to work their own hours.
There are a lot of people in this situation. They hate being tied down, being restricted. They don't want to clock-on
and off exactly when told. They hate having to ask permission before they can do anything and they are not afraid
of working long hours. With their own smal business, they can make the decisions. They may be the wrong
decisions but at least they get to make them. They are not answerable to anyone. They become their own boss.
I Want More Money
Making large amounts of money is a strong incentive for people starting their own smal business. In a company
job there may be bonuses if things go wel but most people are stuck on their set salary. What if they have a good
idea for making the company more efficient? Wil they get rewarded for this? Wil the company do very wel out of
their idea but not the worker who helped the company? In your own smal business, there need not be any fixed
wage. If you work harder or longer or smarter you can reap the rewards. You get paid according to your skil and
Now surveys show that many people running their own smal business make less than they did working for
someone else. But in theory at least, you can increase your income. Al you have to do is work harder or longer and
as you are not afraid of hard work, you wil have to make more money. So natural y some people start their own
smal business.
I Like a Challenge
When people who want to climb a towering mountain are asked why, some reply, "Because it's there.??? In other
words, some people simply like a chal enge. The fact that the task is difficult doesn't put them off but rather fires
them up. They like they job of achieving something, of winning against the odds. Starting your own smal business
is a chal enge. Making something out of nothing can be tough. That's the situation which appeals to some people.

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