July 11, 2017 Entrepreneurial Secrets: How to start a smart small business

By Jerry Bellune

A former employee has made a major life decision.
For two decades he worked for other people.
Now he has decided to work for himself.
He and his wife opened their first business, a bakery.
I say first business because they may open even more.
The entrepreneurial bug bites you for life.
It becomes an addiction. You are never the same again.
I consider it one of life’s greatest opportunities.
You will act, think and behave differently.
If you succeed, you will never work for anyone else.
You will have thousands of bosses – your customers.
You will work for an absolute tyrant – yourself.

Hal and Dawn have done several smart things.
1. They sought expert advice from excellent mentors.
One is the S.C. Small Business Development Center.
Pete Oliver is a long-time friend and entrepreneur.
Pete helped them make major start-up decisions.
2. They picked a business with little competition.
Their small, growing market has no family bakeries.
Their only competitors are grocery store bakeries.
Wherever a market void appears, someone will fill it.
3. With Pete’s help, the developed a business plan.
And in their first week, they are already seeing change.
Biscuits are outselling all their other products.
They had not expected this, but it is a lucky break.
4. They found a location near a large high school.
It is also near churches and other retail outlets.
This provides them a magnet effect for customers.
5. They rent from a bar owner who opens at night.
Their business is open 7 a.m. to 2 p.m.
They provide a new revenue source for their landlord.
They get space at a reasonable rate. Both win.

What does this mean for the rest of us?
We all will introduce new products and services.
Don’t be afraid to try, but start small and test them.
Drop all that don’t sell. Concentrate on those that do.

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