What to think about before opening a new business

This video by Don Harold is really so typical of so many people who open small businesses. They have this idealistic dream of opening a nice little small business, but are entirely unrealistic in going about it. The reality is that in the vast majority of cases opening a small business is highly risky and dangerous, and you had better go in prepared for it, or you will most likely be eaten alive.

A lot of people going to a line of business, because it’s what they like to do. While it is fine to point, the reality is that the public does not really care about whether you like doing what do you do.  The public cares little about what makes the owner of the business happy. What the public cares about is whether a small business meets the public`s needs, and does so better than any other competing business in the area.  There is no point in opening a small business if the public is simply not interested in the product.

Opening a small business is almost always much harder and more serious than most people imagine.  If you ever do so make sure that you go in with a realistic plan with your eyes wide open.

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One Response to What to think about before opening a new business

  1. Shay M says:

    Thanks for sharing. Currently, working on a business plan. Months into it, and I still have plenty of planning to go.

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