Small Business Entrepreneurship – Small Business, Strategies And Many More!

Published on: 10 June 2022 Last Updated on: 04 November 2024

“Please think about your legacy, because you’re writing it every day!”-
Gary Vaynerchuk

Being a businessperson, you can really get a chance to write your legacy on your own. So, you should no doubt, become one.

Now, no entrepreneurs launch a massive business within a day. It takes a lot of time, patience, and dedication from the owner’s side for a venture to grow. So, if you are sure that you can give all three to your venture, consider reading this article to the end.

Here, you can check out the strategies, benefits, and drawbacks of small business entrepreneurship. The best you can do is apply the strategies given here and try to avoid the drawbacks. As a result, you can majorly enjoy the benefits. Have a look:

Small Business Growth Strategies You Must Know

In this section, you can go through a few effective strategies that can work for the growth of any small business. All the following points are made keeping in mind the digital business setup. Have a look:

1. Knowledge Of Product And Target Audience

Your career in small business entrepreneurship can only lead to success if you have proper knowledge about the product. Make sure you know the market condition for a product and are able to manipulate your customers accordingly.

As a result, you can attract more TG and the chances of sales shall dramatically grow.

2. Proper Business Advertising

Have you ever searched for Essentials of Entrepreneurship and Small Business Management 8th edition PDF free download and downloaded the book? Well, then you are aware of the importance of advertising as it is written in the book.

Yes, you can put up online advertising on various digital platforms and expect to get a decent amount of sales. This is how your small business can grow. All you would need is to invest and monitor.

3. Strict Influencer Marketing

At present, influencer marketing is one of the best ways you can get your brand the necessary exposure. So, you can look for the best social media influencer. A good influencer can address your product on social media in such a way that the number of sales boosts.

In the present day, many influencers agree on the fact that influencer marketing can help a small business in the best way.

Benefits Of Small Business Entrepreneurship

As you read the book, Essentials of Entrepreneurship and Small Business Management thoroughly, you can check out certain benefits of small business entrepreneurship. Have a look at the following points and you will understand.

1. Total Control On Running A Company

A small business owner can have total control over running a company. Naturally, if you get into small business and entrepreneurship, it will be your primary responsibility to make your venture a success. This is a benefit as you are not answerable to anyone.

2. High Financial Benefits

A sustaining career in small business entrepreneurship can give you dramatic financial benefits. At times, it is way more than one can earn by doing a business.

3. Outstanding Tax Benefits

An owner of a small business gets promising tax benefits from the government. The scene is more or less the same for every country. So, most business holders can enjoy more capital gains. So, if you have a plan to open a business, this is yet another reason why you must stick to it.

Drawbacks Of Small Business Entrepreneurship

As everything has its own downside, small business entrepreneurship is no different. You should always consider these downsides as a new entrepreneur. Have a look:

1. Market Risks

Wherever there is a market, there is a risk. Well, you might at times face drastic losses while running your business. Although, it is quite natural for an entrepreneur to face such situations. Remember, as a businessperson, it is always best to have a proper financial backup plan.

2. More Stress Leading To Health Issues

A career in small business entrepreneurship can lead you to develop certain health issues due to extra stress. So, this is yet another major downside of being a businessperson. However, timely business decisions in the current approach can always help you avoid stress no matter the types of entrepreneur.

3. Time Management Can Be Tough

Most often, small business entrepreneurship can turn you into an unsocial being. It is again natural as you always dream about the betterment of your venture.

You might get no time to spare for your family or society. Likewise, you might end up finding yourself working 24/7. So, this is obviously a drawback. Well, it is the only reason business owners have the tendency to fall sick than the jobholders.

Frequently Asked Questions (FAQs):

Q1. What Are Examples Of Small Business Entrepreneurs?

Ans: Small business entrepreneurs are those who started a small venture and gradually turned it into a massive one. Some examples are Sophia Amoruso, Howard Schultz, etc.

Q2. What Are The 4 Types Of Entrepreneurship Business?

Ans: There are four types of entrepreneurship in the market. They are social entrepreneurship, small businesses, scalable startups, and large companies. All these types of entrepreneurship are different and it fully depends on the type of company that a person starts.

Q3. How Do I Start A Small Business As An Entrepreneur?

Ans: You can start a small business as an entrepreneur if you have exponential knowledge about a product/service. Moreover, you need to have proper funds to put on for the process to take place. Now, the business process must have continuity, flexibility, and outstanding production. Only then can it properly sustain itself in the market.

Final Words

As of now, small business entrepreneurship is one of the sought-after careers. Most youngsters in all the leading countries in the world are eager to start a business. However, most of them do not know the strategies and even the pros and cons of being a business person.

In such a scenario, most small businesses dry out within a few months. So, if you desire to start a small business, keep all the points given in this article in mind.

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Rocket Lawyer And ZenBusiness Services For Business

If you are someone that is looking to start a new business, you would have probably come across the term- LLC or Limited Liability Company. An LLC is an official form of company legal structure, where the business owners are not liable to the official debts that the business accrues over a period. Forming any business according to any company structure can be an intimidating affair. This is because the paperwork, documentation, bonds, proof, and cheques that are required to be submitted can by themselves become a complex and confusing affair. This is why companies like ZenBusiness and Rocket Lawyer exist to help business owners set up LLC companies with zero or minimum fuss for small fee payments. In this article, we are going to look at which is the better online platform that you should select by carrying out an in-depth comparative analysis between ZenBusiness and Rocket Lawyer. Limited Liability Company: Meaning and Definition In other words, the liability for the downturns or failures of the business does not end up at the doorsteps of the business owners or entrepreneurs. An LLC works to combine the model or a proprietorship with that of a large corporation. However, it adds to the list of advantages like personal control of proprietorship with zero obligations like a corporation. This means that it is a great model that helps bring in advantages like taxation benefits, personal ownership, and more. This is why an LLC is referred to as a Hybrid Model that combines the features and functions of the two entities. As you could have guessed by now, LLC company formation is the most sought-after one because of the major advantages it offers. This is why more than 70% of new businesses that open in the United States opt for an LLC legal company structure and formation. ZenBusiness Versus Rocket Lawyer: Which is the better Online Platform for LLC formation? For the last few years, businesses that have looked at not hiring a full-time business lawyer have depended on either Zen Business or Rocket Lawyer for their company formation needs. Needless to say, customers have always been made to do a choice between Rocket Lawyer Vs ZenBusiness. In this section, we are going to pick up some important factors and compare where do the two companies stand- 1. Price Comparisons- If you are looking to compare solely from the vantage point of prices, then defeating ZenBusiness will be a very tough call. This is because the ZenBusiness charges start at only $39.99 per month legal subscription. On the other hand, Rocket Lawyers starting subscription stands at a price of $99.99. Both these are just the fees that are charged by the respective companies for their services. You need to add the official state taxes and fees on top of this. 2. Features On Offer- The starting plan for Rocket Lawyer just comprises LLC registration services for their $99.99 subscription. If you wish to add an agent to help you, the charges will go up significantly by $149. Lastly, if you want some extra templates for agreements, Rocket Lawyer will charge you an extra $39.99! As against this, ZenBusiness looks to offer all three features for a paltry sum of $39.99. Yes, you read that right. This means that in terms of features to price comparison, there is no denying the fact that ZenBusiness is the better deal to make. 3. Experience and Credibility- Rocket Lawyer has been in the business of LLC company formation for a very long time. In fact, it has a solid reputation and credibility in the industry. If you go through their company website, you would notice that they claim to have helped 20 million businesses. I am sure ZenBusiness would not have managed to reach that figure of 20 million in their limited time of existence. The company was started in 2015 and has since then tried to slowly build its own following through competitive prices and excellent service records. 4. Customer and Technical Support- When it comes to chatting support, both these companies offer them on all 7 days. In this area, we felt that Rocket Lawyer has a slight edge over ZenBusiness. You see Rocket Lawyer offers customer support from 9 to 9 every single day on phone, email, and chat support. ZenBusiness on the other hand tries to match up to Rocket Lawyer for the weekdays. However, on weekends it offers shortened support between 11 to 8. Here too you get support on chat, email, and phone. Both the support teams are highly professional and dedicated. 5. Add-On Services- When you look at both these companies, you see that they mostly all services regarding company formation, agent registration, filing taxes, agreement farming, and so on. To that end, there is not a lot of difference between them. The differences start emerging when you look at additional legal services on offer Rocket Lawyer goes above and beyond mere commercial legal help and extends it to Divorce Settlements, Will Formation, Eviction Notices, Real Estate Deeds, and so on. The Bottom Line There are so many other issues and areas that as a business owner you can focus on apart from the paperwork process. By leaving this to an established and credible online platform like ZenBusiness or Rocket Lawyer, you can rest assured that your LLC formation will be a smooth affair. At the end of the day, every small business wants to save as much as possible on overheads. This is what gives ZenBusiness a comparative advantage. It matches Rocket Lawyer and stays within its league for almost all features. Where ZenBusiness pulls the rabbit out of the hat is in terms of the pricing. If you have any other questions on LLC company formation that you would like to raise, let us know in the comments section below. Read Also: Seven Benefits Of Hiring A Professional Bookkeeper Why Do Businesses Need Lawyer’s Advice?

How To Choose The Best Mobile Network Operator For Your Business: Expert’s Talk

When it comes to setting up a business, we all know the importance of communication. This becomes a far more crucial factor when you think about businesses that operate across countries and continents. Given the increasing importance of digital and technology in our lives, effective communication becomes all the more critical. However, with every company boosting to be the best at what they do, the task of choosing a mobile network operator becomes an overwhelming one. In this article, we help businesses choose the best mobile network operator for all their needs. Besides, we start by discussing why modern businesses cannot do without one. How a Mobile Network Operator can help Businesses in 2021? Modern businesses require a mobile network operator for multiple reasons. Apart from offering important functions like clearing and settlement, some other reasons are- Ensuring communication between team members and employees in the various verticals. Talking to customers and vendors that might be spread across countries and continents for sales and marketing. Setting up effective Customer Support and Tech Services that help in after-sales and improves the brand’s credibility. Fixing up Cybersecurity benchmarks in all the network solutions that the businesses use on an everyday basis. Looking after the IT installations, data centers, and networking facilities that are part of every modern business organization. A good and credible mobile network operator can play a major role in boosting efficiency within an organization. Also, they can help a company save data costs thereby helping in boosting revenue figures. How to Choose the Best Mobile Network Operator: 5 Things to look for 1. The Range of Services on Offer- Not all mobile network operators have at their disposal all services and products related to the industry. This is why you must check in with them right at the very start. Depending on the needs and requirements of your business, you do not want a vendor that is inexperienced or has just stated that they offer something only to get your business. This is an important aspect. 2. What is the Quality of Customer Service and Support? Trust us when we say that your team and employees are going to be in very close contact with the customer service team of the mobile network operator. They would need constant help in troubleshooting things and getting acclimatized to how the system works. This is why you need a hands-on provider that is available 24x7 to help your business every step of the way. 3. Check for Long-Term Experience of the Operator- Experience plays an important role in determining how good a mobile network operator is. The longer the experience, the more professional can you expect the service to be. This can help you as a business as you would be able to rely on the network operator to help you come out of tight situations. It can also lead to better tech adoption for the business during the present. 4. Look for the Best Deals on Prices and Payment Models- Businesses that are looking to hire a mobile network operator should not have to break the bank to get one. While there are operators that will be able to offer you their services for dirt-cheap prices, you shouldn’t go for them. Go with a vendor that is average prices and can vouch for delivering a high level of service to your business. This will enable you to enjoy long-term benefits and flexible pricing payments. 5. Can Offer Help for Boosting Network Security- Cybersecurity is a great concern of our times. You do not want to be working with multiple vendors for different needs. A good and credible network operator can offer their expertise in helping improve your cybersecurity and network security. This can ensure that your business can keep at bay all the security threats that are emerging from cybercriminals. Sustainability in Mobile Network Operations: Why It Matters for Modern Businesses Sustainability isn’t just a trendy term in the business world, it’s actually becoming a major deciding factor in services like mobile network operators. Especially when a business is trying to build a holistic reputation which not only helps their customers, but even the Earth! With modern businesses increasingly interested in their own environmental footprint, that concern is also important when deciding who provides their network. But what does sustainability really mean when it comes to mobile network operations, and why do you, as a business, care? So, let’s begin at the beginning. The harmful impacts that we often miss out on! The Environmental Impact of Mobile Networks Mobile network operators use a lot of energy — from operating data centers to maintaining vast infrastructures, all those operations create a massive carbon footprint. Additionally, telecommunications companies generate approximately 1.4% of global carbon emissions, according to recent research. By opting for a network operator that is serious about sustainability, you can help lower this percentage while also putting your business in line with your environmental aims. Green Practices Adopted by Mobile Networks Some of the mobile networks which think ahead are already using green practices like using renewable sources of energy to power their data centers. Solar panels, wind energy and other renewable sources help them reduce dependency on fossil fuels. Another sector where sustainable energy consumption is important is the operations sector. Some of the approaches include AI in network traffic management to ensure energy consumption only when necessary. Although, we must depend on some of the traditional network operators, it is high time we understood the implication of heavy-duty internet usage. Yes, these may be small steps individually. However, collectively, these will reduce energy consumption significantly. An add-on benefit to sustainability is operational cost cutting. Why Your Business Should Care Sustainability is not only about saving the planet! It’s also a powerful business strategy. We have now what we call a responsible customer. Yes, people who are trying to be sustainable in their approach and be better citizens. Customers are increasingly aware of the environmental impact of the brands they choose to support. Especially more about carbon footprint and how mobile network usage is having its negative effects. Therefore, partnering with a sustainable mobile network operator, especially the one who is extracting their resources through ethical means, is important. They will improve your brand reputation, attract environmentally conscious customers, and meet corporate social responsibility targets. In addition, sustainability often equates to savings. Energy-efficient practices can lower the cost of operations for network operators. Which can again lead to reduced fees for businesses using their services. Choose Wisely! Choosing the best mobile network operator can play a major role in helping your business improve its productivity and efficiency. By following all the points mentioned in the article, you can expect to choose a vendor that is best suited to the needs and interests of your business. Read Also: 7 Reasons Why Your Business Needs A Mobile App How a Virtual Assistant Is Beneficial to Businesses Launching a Business? Hire These 5 Professional Services for Help How Customer Success Can Help Grow Your Busines

Making the Best from Third Party Lab Testing

Venturing into the hemp market? Like other niches, there is no doubt that your goal is optimizing profit and growing your enterprise. However, the cannabis niche is a bit tricky because it is pretty new, resulting in an influx of poor-quality products. Although the Farm Bill Amendments of 2018 opened the door for all, it is now apparent that you cannot simply trust the products because they are labeled the "best." To be sure of identifying the best cannabis products, you need to move one step ahead and use third party lab testing. These are accredited independent labs that are allowed to help people test the content of their products. While testing the cannabis products is the primary goal for most traders in the cannabis niche, we will tell you how to use lab testing to enhance your competitive advantage. Use the 3rd Party Lab Tests to Check the Cannabinoid Profile One of the key issues that the FDA has noted with cannabis products is that some of them have false information on their labels. In one of the recent cases, the FDA reported that some cannabis products had CBD levels lower than manufacturers had indicated on labels. Because the bulk of clients looking for cannabis products intend to get their therapeutic benefits, you do not want to sell them products with wrong info. Third-party lab tests help you to check the cannabinoid profile, which shows the different cannabinoids and their quantities in a sample. When you notice a product with false information, it implies that a supplier or manufacturer cannot be trusted, so keep looking. Check for the Presence of Harmful Components According to the FDA, every product being released into the market should be carefully produced and proven to be harmless to the user. However, some cannabis products contain products that can be dangerous to the human body. For example, if a cannabis product contains heavy metals, your clients are at risk of suffering from serious cell-structure damage. Other harmful components that can be found in a cannabis product include bio-contaminants, pesticides, and organic solvents. When you subject your hemp product to third party lab testing, the results will show whether there are dangerous components that can harm users. If the harmful components are in qualities that are higher than what is legally allowed, the best idea is not stocking that product. Instead, keep checking until you identify the hemp products that are safe. Tell Clients about the Tests in Your Profile When you take your products for testing by independent laboratories, make sure to tell your targeted clients. This will help you to stand out because clients will be sure that they are buying high-quality cannabis products. They will also refer to others, meaning that your sales and profits are likely to grow. The emerging cannabis market has proven to be challenging for traders because not all products available for sale can be trusted. However, you can use third-party laboratory testing to ensure you stock high-quality products and strengthen your brand. Read Also: What is Cannabis Oil and how does CBD Oil Work? The Benefits of Drug Testing in the Workplace using Drug Test Cups

Small Business Entrepreneurship – Small Business, Strategies And Many More!

Small Business Growth Strategies You Must Know