We small business owners are a helpful lot according to a recent survey by SurePayroll. The survey of almost 300 small business owners found that individuals who have been laid off and are looking to start a business are more likely to get help from established entrepreneurs than they might think — 91% of small business owners are open to offering advice to recently laid-off entrepreneur hopefuls on how to go into business for themselves.
And here are some of the suggestions they had for new business owners:
- Control your growth: Get some accounts, get used to the work load, then get more accounts, get used to the work load, etc. Many companies that grow too fast go out of business because they can’t handle the work load.
- Be frugal: Think about what you are going to cut back on and what you need no matter what the economy is doing to help make your decision.
- Think about financing: Make certain you have enough start-up cash to survive one year.
- Don’t underestimate the cash flow needs of a new business. Make sure, especially in today’s environment, that you have sources of capital available.
- Distinguish yourself: Make sure that you are providing a service that is unique amongst other competition.
- Hire carefully: Hiring good staff people is the most important thing you can do.
And I put a call out to my twitter pals about the advice they would give a new business owner. Here’s what they had to say.
- @jonedm Start w/honest assessment of passions, skills, & desires and find something that fits those.
- @rajanoori for starters suggest getting a free web presence for SB http://www.officelive.com/
- @bhnyc I would say – assess what you love doing and are competent at, try freelance in that area while building network then launch.
- @blfarris Find a customer, you don’t have a business without a customer. You can’t find them online.
- @joncarlston www.FranchiseIntroduction.com. Also, there’s a huge franchise show in DC in March – www.ifeinfo.com