Small Business Ideas for First Time Business Entrepreneurs

If you have recently become unemployed during this current financial hiatus, you may be thinking of starting your own small business and are looking around for some viable ideas. Life in the commercial world is considerably different to living life as an employee and just because you are currently unemployed is not a good reason to start your own business.
To be a successful commercial enterprise requires an entrepreneurial outlook combined with vision and a burning desire to succeed. This burning desire to succeed is balanced by reaching self-imposed goals based on profits or losses in a balance sheet. It is these profits or loss figures that will determine success or failure of your endeavours.
If your commercial endeavors are either a success or a failure, it will impact on your life far more than anyone realises. If you succeed in commercial life and make heaps of money, your life will change. If your commercial enterprise loses money, it will impact your life far more than anyone will usually tell you. Commerce is a gamble on which you can control the odds more in your favour if you are resourceful, punctilious and cautious. It is a balancing act and is not for everyone.
Franchise
Starting a commercial enterprise today can be fast-tracked by buying into a franchise. This method for a start-up small business is very popular today because it comes with a mentoring side from any good franchise offer.
The mentoring side means that the franchisor (that is, the person who owns the franchise) is supposed to work with you, often supply the necessary supplies for the enterprise and to teach you the things that you need to know.
The reality of this type of business model is often very different to what actually happens. I have worked with many small businesses over the years and the percentage of happy franchisees (that is, the people who have bought into this commercial model) is very different to what actually happens. Many franchisers don’t live up to their contractual agreements.
If you are considering this type of popular business model as a start-up for an occupation it can be one that is not the one I would personally recommend.
My Recommendation
My recommendation for you if you are looking for a small business as a first time entrepreneur would be to start something very small – like a ‘fish and chip’ shop or a convenience store. Start something that is needed in an area that doesn’t have one but has the population to use your service as a convenience.
I also recommend learning how to do your own accounting books through night-school while you study the location that you want to set-up your small business in. And talk to people about your proposed idea because it is their feedback that will guide you in assessing your idea for a popular and profitable enterprise.

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