Are you willing to start work when the summer sun rises at 4:30 a.m. in Southern Arizona?
If you are willing to work hard, have tenacity and drive to achieve, you have a shot at success, according to Marco Carbajo, business credit blogger for Dun and Bradstreet Credibility Corp., the SBA.gov Community, About.com and All Business.com.
But to succeed, Carbajo says, here are the five things you’ll need — what he calls the “five pillars of small business”:
- Surround yourself with people who are smarter than you are. Use the expertise of a mentor, lawyer, accountant, marketing expert, etc.
- A plan is important, but that doesn’t mean the big formal business plan document you fear like a term paper. It’s essential to establish responsibilities, set goals and track performance. Plus, answer these questions: Have you identified your target customers? Etc.
- It’s crucial that you have a full and clear understanding of your company’s processes and have the right systems in place.
- Do something that you’re passionate about, that fills a need in the marketplace. Does your product solve a problem? Does it exist yet? Is there something that is out there that your product does in a different way?
- A critical component of running a successful business is knowing your numbers. Become proficient at reading and understanding your financial statements.
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