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Small business owners have always had the odds stacked against them.
That is one thing that has not changed while every aspect of our work and personal lives have been affected by changes so dramatic that we barely remember what used to be.
A small business owner has at least these timeless few disadvantages to overcome:
- Limited capitalization and cash flow, including restricted access to bank loans and lines of credit
- Lack of trusted advisers
- Access to technologies used by large corporations to reduce costs.
- Limited benefits to attract top talent
- Competition that is large enough to have all these advantages and the ability to ride out tough economic times.
Well, the list is longer but you get the idea. Yes, there are advantages to owning and managing a small business, 1 to 200 employees. But they come at a cost or trade-off.
The news headlines and hard data point to a dramatic increase in the number of people who will either forgo careers at larger organizations or be forced by some circumstance to make their own employment.
Companies that have made severe cutbacks due to the economic times will not hire back to previous levels. Technology and outsourcing that are currently being used to handle the work for the downsized companies cost less. There is no incentive to go back.
College and high school graduates are going to have to learn some hard lessons as they make work for themselves. Lessons in entrepreneurship not taught in school, because it is a mindset. A mindset opposite of the core principles taught in our school systems. They are taught to be good employees and do what they are told, and show up in exchange for a secure job and employment.
That is the new truth of our economy.
That is why I appreciate and applaud all who attempt to go it on their own.
In my small sphere of influence, I want to provide tools and resources to small business owners. Many of our Mac-using readers are in business on their own, and if they are fortunate and have worked hard with a little luck, they are owners of a small business that has employees and increased access to resources to weather the occasional economic storm or business setback.
My small business consults are aimed to help level the playing field for small businesses. With my background, education and experience, I hope to impact a few businesses in a positive way.
- Jacqueline Monroe
I think that with the proper use of technology, some smart strategies to leverage low and no-cost ways to reach potential customers, and newly proven methods to help startup companies burn less money over longer periods of time, we can increase the success rate of small businesses.