IMPORTANT DECISIONS: FOR BUSINESS OWNERS AND STARTUPS
By: Thomas Chiedozie Williams
It's so easy to get excited when you are set to establish your business, some of the things people ignore are;- Location
- Environment
LOCATION: Picking the right location as a head office of your business is very important, you need a location that is economically and business oriented.
Location is key, you need a central location where anyone can be able to access, the truth is we humans are naturally lazy and we love alternatives, we like things that are arms reach, so imagine your business is located at a place where it's difficult to access both in and out, you will loose potential customers that need your service.
Many businesses chose to strategically locate in certain areas, due to the highly-skilled and educated workforce, of innovation with easy access to major transportation hubs, reasonable lease rates, affordable housing and an abundance of culture and natural resources.
ENVIRONMENT: Another key factor to consider is the environment, as mentioned in the location, you need a profitable business environment for your business, take a good stock of the surroundings, what kind of buildings are there, businesses, people easy access to various day to day activities, is the environment business friendly? are there limitations to certain products ?
It is important that you have a good business environment for your business, especially and that requires you understanding the kind of product that can be sold at the location you have chosen, having a good idea of the kind of services that can be rendered in the environment will help you make good profit and sustain a good business that will definitely expand with time.
Most people fail to identify their customers in the environment after chosen a location to set their business, ignoring the potentials of the inhabitants that can be harnessed to their business advantage,
having a business in a business friendly environment can make you versatile and flexible when executing your business idea, adding diversity to your business plan.
Here are some Business Advice from Successful Small Business Owners and Entrepreneurs.
ARIZONA: John Stonecipher, President, and CEO of Guidance Aviation Inc.
"Try to find a mentor if possible. I was incredibly fortunate to have had Art Christoffersen as my business partner ... He was a great sounding board and really never told me what to do, but he asked some great questions that led me to the answer."
OREGON: Judith Huck, President Classique Floors Inc.
"Try to find a mentor if possible. I was incredibly fortunate to have had Art Christoffersen as my business partner ... He was a great sounding board and really never told me what to do, but he asked some great questions that led me to the answer."
IOWA: Charles Hammond, President, and CEO, Raining Rose
"I guess I would say don't be afraid. If they have a business idea but are afraid because of a lack of funding or experience and so on, I have to tell them don't worry, these are not going to be an issue in this country."
KENTUCKY: Dr. Mehdi Yazdanpanah, CEO, Founder of NaugaNeedles
"The advice I'd give is to make as many mistakes as you can, as fast as you can. Get them out of the way. No one hits home runs right away."
CONNECTICUT: Chris Runyan, President GameXChange
"Do not underestimate the amount of effort, perseverance, and discipline that is required to be successful. I cannot stress that enough. There will be problems and you must be ready mentally, physically, and spiritually to deal with them. If you are starting a business to get rich and work less, then you are on the wrong path. One should be working on enjoying the journey not thinking about the destination. The riches-seekers never reach it."
SOUTH CAROLINA: Noah Thomas Leask, President, and CEO of ISHPI
"Be collaborative with your staff, your customers, and your vendors or suppliers. The more you trust the team knowledge and wisdom of those around you, the more quickly you can recognize and adapt to changes, provide better products or services, and the stronger your organization will be."
ALABAMA: Ellen Didier, President Red Sage Communications
"Build your business around your life, not your life around your business. This will give you the stamina to build a business with longevity."
RHODE ISLAND: Brenda Brock, founder, formulator and CEO of Farmaesthetics
"Develop a daily P&L and ask yourself 'Are we making money today or losing money today?' This will allow for you to fix a problem quickly or continue to do the things that work."
WASHINGTON: Jill Blankenship, CEO Frontline Call Center
"First, you have to be passionate about your business because having your own business is not a job it is a way of life. Second, create (and articulate) your vision for the business and then be relentless in executing your go-to-market strategies and tactics. A solid plan is important; hard work and execution are critical."
WISCONSIN: Tom Nieman, Owner Fromm Family Foods
"Growing a business is about taking risks in a competitive environment, while continuing to build and maintain a solid reputation that your company delivers the utmost customer service. And very importantly, any business owners should strive to surround themselves with trustworthy, reliable people who support their company's mission and values."
WASHINGTON D.C.: Tom. J. Loftus, President, Founder and CEO LS Technologies LLC
Starting up a business is not always easy but making the right decisions, consultations, and proper researching will help you scale through and be successful.
You must clearly define your goals. If you don’t, you’ll never be able to tick them off and measure how you’ve performed.
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