Doing business is classical art governed by scientific rules and processes. It’s not everyone game but need a particular type of attitude towards life with a passion to achieve something, something really big. Passion creates vision that gives energy and enthusiasm. These are must ingredients for a successful business. Business need long term patience with consistent hardworking.
Businesses can be categorized in different ways. In term of size, businesses are categorized in Large, Medium and Small businesses. Here we will discuss only Small Business.
Part - I
What is Small Business?
Small Business normally refers to business owned by a single person, Proprietorship or few partners, Partnership. It has few employs with less annual revenues than Corporate Businesses. Almost every established business in the world today has some kind of historical link to small business and most of the time effort of a single or at most two to three people’s partnership.
Every year thousands of persons entered in the arena of small business with both new and old ideas. However, few are the lucky one to continue their business after one year. There are several reasons for this and main concept of this article is to discuss these factors in detail that may help new comers to avoid the mistakes and take the right direction without wasting time in doing hit and trial.
Small Business may be one of the several types like Services, Retail, Supplies or Small-scale manufacturing. In any case business is move around Products and/or Projects, Sales and Marketing and Accounts and Admin. Managing these main pillars is all about Business.
SOHO, small office home office is another famous term for Small Business. This is the beauty of Small Business that it can be started from anywhere with less hassle for Government approvals, rules and regulations. With less over-heads this is also more convenient to manage Small Business.
This is highly recommended to start your own Small Business to compete with the increasing inflation and to improve your and yours’s family life style. Small Business is the best activity for your time and doing something interesting will make you happy and prosperous.
Good Luck with your Small Business!
Writer, Shahid H. Qadri is Founder, CEO of PNTGlobal.com, small business dealing in IT enabled services since last eighteen years.