Home
>
Small Business
>
Small Business 101: Deadly Ignorance

Small Business 101: Deadly Ignorance

American small business is again in transition. Many employees, now working from home, are no longer tied to a geographic office and the woes of commuting. This is a relatively new phenomenon with hints of explosive sector growth in the days ahead. As this turbulent economy has forced downsizing, offshore restructuring and closures in large companies, many new entrepreneurs have been born. These are people, who instead of tirelessly attempting to find new employment and possibly enduring the same fate as previously experienced, are now starting small businesses and enjoying the benefits and perils of self-employment.

There's an old story telling of an Admiral's decision to fight a battle against overwhelming odds. It seems that he was approaching the coast of an enemy land, with a larger naval force closing in from behind and a great army approaching from the land ahead. He prayed and then addressed his men. He announced that their battle weary forces would land on the beach ahead, dig in and prepare for the upcoming battle. There was no turning back and no other alternative. He ordered their ships burned after they landed. Their only choice was to fight to win or perish. They defeated their enemy because he eliminated any other escape route. They were fixed on the goal of survival and none other.

That is the same attitude we as entrepreneurs must take. We can not afford to be denied. We must grow and prosper or our business will surely perish. We must constantly be looking for ways to cost-effectively market our business and increase sales. We must control costs and have sufficient cash flow for daily operations. Each of us must be persistent, relentless and vigilant. As CEO, we are the manufacturer, the sales team, the marketing department, legal office, accounting office, human resources manager, IT manager, the webmaster and so on. We can't afford to be all these positions. Our job is to sell! We must locate cost effective resources to help us grow and protect our investment in our business.

The growth of the internet has changed our marketplace as well. Years ago, a small business owner decided upon a geographic chunk of the market and set up shop. Today, that shop is typically located in an office at the entrepreneur's home. The marketplace is now the world. The costs of marketing products and communicating worldwide are so low that almost anyone can take part in this revolution. Sophisticated voice mail, cell phones, email and effective ecommerce web sites now provide the illusion of size and grandeur for even the smallest home-based business. The end customer typically has no idea whether their supplier is local or across the world. He may be dressed in a shirt and tie or in his pajamas! All that typically matters is that the exchange of product and services is successfully made for a profit.

It is critically important for the small, home-based entrepreneur to be aware of resources available to her as she makes this great leap. Too many people leap prematurely into business only to fail because of poor planning and insufficient financial resources. Do not get caught in this trap. Don't quit your day job until you have enough cash on hand to pay the bills for at least a year into your new venture. Become aware of and develop the resources available to you. You want everything possible going for you as you make this leap of faith into the entrepreneurial world.

Here in South Carolina, we have the outstanding Women's Business Center (http://www.scwbc.org), a division of the SCMEP, South Carolina Manufacturers Extension Partnership (http://www.scmep.org), one of the best kept secrets available to businesses at all levels in our State. Other States have similar programs modeled after ours. These are incredible resources, partially funded by the State and private resources, available at little to no cost to entrepreneurs, with the purpose of aiding the successful growth of small business. Some additional national resources are:

http://www.nationalbusiness.org

http://www.nase.org

http://www.gosmallbiz.com

http://www.empoweringbiz.com

http://www.nfib.org

http://www.qualitybusinessdirect ory.com

There are also numerous magazines devoted to small business, home-based business, marketing, sales, accounting, etc? Get tuned in to these and other resources available to you. Read your industry publications to stay abreast of competition and other facets of your business interests.

A single legal issue, FACTA problem, accounting error or marketing miscue can put you out of business. In the case of FACTA, insufficient security or poor record-keeping these days could find you legally responsible for a single employee's identity fraud issue, which may end up being very costly. A single lawsuit or vendor dispute can shut you down. Many entrepreneurs are ignorant, ill-prepared and under-schooled with regard to these and other issues. Do not get caught in the deadly ignorance trap.

There is more opportunity available today than ever before for the wise entrepreneur. Get all you ducks in a row before you make the fateful leap into the new world marketplace. Be smart, learn all you can as quickly as possible and take action on your ideas. Like the Admiral, be determined to win in the face of what may appear to be overwhelming adversity.

Daniel Sitter is the author of the breakthrough e-book, Learning For Profit, the revolutionary how-to book providing simple, step-by-step instructions to teach people exactly how to learn new skills faster than ever before. It's currently available from c|net's download.com, the author's web site c|net's download.com and a variety of online book merchants. Mr. Sitter is a contributing writer for several online and traditional publications. His expertise include sales, marketing, effective learning techniques, self-improvement and general business interests.

efficient cleaning crew Northbrook ..

In The News:

Chinese hackers used Anthropic's Claude AI to launch autonomous cyberattacks on 30 organizations worldwide, marking a major shift in cybersecurity threats.

Apple's new Sleep Score feature gives you a rating for your nightly rest quality. Learn how to set it up on your Apple Watch and iPhone today.

Essential phone settings to enable before losing your device, including Find My network, location services and security features for iPhone and Android.

The Fox News AI Newsletter gives readers the latest AI technology advancements, covering the challenges and opportunities AI presents.

Cybersecurity research shows weak passwords remain a major threat, with simple patterns and number sequences putting millions of accounts at risk.

New Android malware BankBot YNRK silences phones, steals banking data and drains crypto wallets automatically. Learn how this advanced threat works.

FDA approves first human trial for Paradromics' brain-computer interface that could restore speech for paralyzed patients through neural technology.

New phishing platform QRR targets Microsoft 365 users across 1,000 domains in 90 countries. Learn how to spot fake login pages and protect your accounts.

OpenTable now uses AI to track your dining habits and share insights with restaurants. Learn what data they collect and how to protect your privacy.

Google's discontinued Nest thermostats still secretly upload home data to company servers despite losing smart features, raising serious privacy concerns.

New Android malware NGate steals NFC payment codes in real-time, allowing criminals to withdraw cash from ATMs without your card. Learn protection tips.

DoorDash confirms data breach exposing customer names, emails, addresses after social engineering attack. Learn how to protect yourself from scams.

Concerned about Google's AI scanning your Gmail? Learn how to disable Gemini features that access your emails, Drive files and Chat messages for privacy.

Google warns Android users about dangerous fake VPN apps hiding malware that steals passwords, banking details and personal data from phones and tablets.

Apple's digital passport feature lets iPhone users breeze through TSA checkpoints this holiday season using Digital ID technology at 250+ airports.

A new phishing scam targets family photos with fake "Cloud Storage Full" alerts. Criminals steal credit card information through fake sites. Learn protection tips.

South Korean scientists create ultra-thin fabric muscles that turn clothes into robotic assistants, lifting 33 pounds while weighing under half an ounce.

Archer Aviation has acquired Hawthorne Airport for $126M to launch an LA air taxi network ahead of the 2028 Olympics, featuring AI-powered eVTOL operations and next-gen aviation tech.

Stay up to date on the latest AI technology advancements and learn about the challenges and opportunities AI presents now and for the future.

Fake AI apps disguised as "ChatGPT" and "DALL·E" are flooding app stores with dangerous malware that steals data and monitors users without detection.

Fake buyers demand specific vehicle reports from unknown sites to steal credit card information from car sellers, but warning signs can help identify these scams before paying.

Android users can now manage apps across multiple devices more easily with Google Play Store's updated remote uninstall button in the latest update.

NASA's Perseverance rover discovers shiny metallic rock on Mars that could be a meteorite from an ancient asteroid, containing high levels of iron and nickel.

Holiday scams spike during Black Friday and Cyber Monday as criminals exploit your leaked personal data. Learn how to protect yourself from fake stores and phishing.

Commerce Department proposes TP-Link router ban over Chinese security risks. Learn how this potential prohibition could affect your home network and devices.