Unlock Small Business Success in 5 Ways

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.Improve-Business-Success-Rate-620x465

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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You can read the original article by Diane Diamond published on Tucson

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