Small Business 101: An introduction

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By CJ McClanahan
Current in Fishers

Every year, thousands of entrepreneurs from all across America take the leap and start a small business.  Unfortunately, most (more than 70 percent) of these courageous individuals struggle, and within five years, they are forced to shut their doors.

It doesn’t have to be this way.

Intellectually speaking, building a successful small business is easy. It doesn’t require an MBA, a Ph.D. or even a degree in business. All you need to do is to understand a handful of fundamentals and have the discipline to execute them on a regular basis. The “understanding” part is easy; it’s the “execution” that trips up most small business owners.

What I find most interesting is that this truth applies to just about every area of our lives. Take losing weight for example. Most people understand how to shed a few pounds: eat less food and exercise. In fact, the truth is even simpler. Weight lose is achieved by burning more calories that you consume. That’s it. No Atkins Diet® or Shake Weight® are required – just burn more calories than you consume.

If it’s so simple, why are there so many overweight people in America? It’s for the same reason that most small businesses fail; the understanding is easy but the execution is hard.

Why is the execution so hard? While there are many factors, I believe the issue making execution difficult for most people is that in today’s society we are addicted to instant gratification. In other words, we only work on tactics and strategies that promise to deliver results in the near future. Would you be surprised to hear that the top-selling book on Amazon today had the following byline: “Lose 10 pounds in 7 days”?

We all want a guaranteed solution to our most difficult problems and we want it NOW! It’s not that we are afraid to work hard – we just don’t want to wait. As a result, most overweight people quit working out after their third trip to the gym and most small business owners give up on their marketing plan when it hasn’t delivered 1,000 new customers in the first 48 hours.

What’s got to change? The good news, as with most things in life, is the solution is simple. In fact, it’s so simple that over the next 12 months I am going to provide you with a set of straightforward lessons that are guaranteed to help your small business succeed. Each of these lessons will conclude with a simple set of instructions that you should be able to put into place immediately.

All you’ve got to do is read and execute. Good luck!

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