Too often, being a small business is not seen as an advantage. This is for the simple reason that size matters when it comes to many principles of conducting business. For instance, when you go to the bank for a loan, you only get as small an amount as you do business, while large companies have the luxury of running with loads of cash on their balance sheet.
Think of crowdsourcing as a kind of Internet dating approach to finding your small business the capital, creativity, help and ideas it needs to take it to the next level. And just as there been an explosion in Internet dating sights, there’s been a boom in crowdsourcing sites.
While it’s true that most new companies require some degree of startup capital to help get them off the ground, many businesses are surprisingly cheap to open. There are several ways to keep initial costs low when starting a business.
One of the challenges with operating a small business is the need to bootstrap at every level of operation. Consequently, most small businesses choose not to employ full-time IT staff and instead contract a consultant as and when they are needed.
The number of workers identifying themselves as “independent contractors” is growing in the United States. In 2005 the U.S. Bureau of Labor Statistics determined that the number of independent contractors rose from 6.4% of the workforce in 2001 to 27.4% of the workforce by 2005. In 2010, Navigant Economics claimed the following:
When a small business owner first starts out, it’s often possible to drive at least a little bit of business without too much marketing. But, if you do everything right, you’re rapidly going to find yourself in a position where you have too much to do.
You don’t need to invent an innovative product to be a real entrepreneur. Self-employed services specialists are just as important, and most often operate remotely (from anywhere in the world) in this age of the Internet. Many of these new entrepreneurs were regular employees a few years ago, focused on a skill specialty. They are not the generalists required for new product startups.
Small Biz Club is the premier destination for small business owners and entrepreneurs. To succeed in business, you have to constantly learn about new things, evaluate what you’re doing, and look for ways to improve—that’s what we’re here to help you do.