There are many reasons why small businesses fail whether you are in business for one year or twenty years. Avoiding the pitfalls from the beginning is a must to have a chance at success.
Don’t agree? If you owned a McDonald’s, Subway, Quick Check etc. would you have to show up every day to make your money? The key question, could you sell it and make a profit?
Do something out of the ordinary. Who says you have to do something like everyone else? What can you do that sets you apart? My example: I’m a start a group home in maryland who hosts a radio show targeted to my ideal audience. This is a way that I can help them learn more and introduce myself as a resource.
This is probably the single most important thing you need to determine. The reality is, is that many of the testimonials on these sites are in fact true. And although it’s good to see some real life testimonials, they really don’t help you much.
Be an active part of your community. Involve yourself with the community that is full of your potential buyers. It becomes a win-win situation when you work together to create success for all.
As you may have already learned, there is a lot more to running a business then diagnosing, prescribing, or operating on your clients, In that area I would not be able to hold a candle to your skill sets but in business you need an entirely different set of skills, such as marketing, technical expertise, advertisement, Hippa compliance, accounts payable, accounts receivables, client retention and that’s to name a few, it is in this area that I have perfected and honed my skills.
Finally, many people who start their own businesses feel that they have to do it all on their own but this could be the biggest mistake of all. Do not be afraid to seek professional advice from an accountant or business consultant. They can help you avoid many of the common pitfalls facing new business owners. They can oversee the finances and start up costs as you get your business off the ground and help you control grow it year after year.