Starting a small business… just the thought conjures up a diverse assortment of ideas. To some it might embody a dream of dreams, and to another a trial of trials.
Whatever one’s opinion of starting a small business, the value of such a venture can be seen in the countless examples, worldwide, of individuals from all walks of life and all backgrounds creating something from nothing but… an idea.
Made in the image of God, we humans find substantial satisfaction in doing the things that He has done, namely, creating something. While it’s quite apparent we can’t fabricate out of nothingness because we are not God, we can take from what already exists and fabricate something of value, unique to us alone. Perhaps the doing so is the closest thing to “creation” we can actually achieve.
Consider a painting. Be it the ceiling of the Sistine Chapel or the work of a carnival portrait artist, a painting is a creation of and unique to a particular artist. There will never be, and can never be, another painting just like it. As such, the painting is an emanation of the painter, of his or her very person.
In like manner, starting a small business is a creation of a person, often only one. It may be an international franchise selling a common product, or it may be boutique business serving a rare clientele, or any variation thereof, but if it is a small business directed by one’s goals and work, it is a by-product of that one person.
Starting a small business is an opportunity created by the economic system called capitalism. Since capitalism is most clearly defined by the private control of markets and profits, small businesses run by individuals cannot thrive outside of some variation of capitalism. We owe thanks to the wonderful (but not flawless) system of capitalism which gives us Westerners the opportunity to start a small business our own way and with our own efforts.
And thereby benefit from our own profits.
The benefits, in both money and enjoyment, are tremendous and often lifelong. But as in all good things worth achieving, the process entails a lot of work and sacrifice of time and personal resources. There are millions of people who plan to start their own business or simply wish to do so someday, but only a comparatively few achieve it with successsee post.
Why is this?
To put it simply, starting a small business requires not only work and sacrifice and commitment, but a substantial amount of research. Many people desirous of being an entrepreneur have little understanding of what it really takes; and if they do, they believe they can get by okay without all the preparation and groundwork. The proof of this can be seen in the numbers… most small business startups fail in the first year. But there is the other side of the coin…
Many people starting a small business have done phenomenally well. Yes, they probably hit a few bumps in the road, and took a few shots on the chin, but the difference between the successes and the failures was not passion or intellect, nor the lack thereof. The difference was planning and determination.
So, to be successful in a small business startup, what exactly does it take?
Rhett Kniep is a licensed real estate business broker and building contractor. For over a decade he has successfully worked in the real estate investment business, buying and rehabbing and selling investment homes, commercial real estate, and businesses. He enjoys sharing his learned insights in business sales and development with others.
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