Updated: May 8
An entrepreneurship surge has hit America. Think about it. How many of us have ever had an idea for a product, or service, and hours, days, weeks, months, or even years later see that somebody else has created the very same product because we didn't act on it first? I know that I have. A good friend and I worked together at the local swimming pool for a couple of years. During this time, the concrete around the pool burned the bottom of our feet on a daily basis, but wearing shoes (flip-flops) as often as we had to get in and out of the pool was such an inconvenience. As a result, we had the idea to create a waterproof,, adhesive, pad for the bottom of our feet! Pretty great. We sketched out our design and priced everything and talked about it through our next few shifts together. However, that's as far as our idea went. A concept. A few months later, I was scrolling through Facebook and came across this same exact idea! However, it was executed by someone else... I sent the advertisement to my friend and neither of us were very happy! We, foolishly, didn't act on our idea. As previously mentioned, many of us dream of someday owning our own business. We want to create the next Apple, Microsoft, the next big mode of transportation, etc. Wouldn't that be nice... However, many of us turn away from this dream when we start really thinking of how much money it will cost to begin operating. Think of what it ill cost in order to rent our first storefront building, get the first shipment of merchandise, utility bills, advertising, etc. This can be expensive and intimidating at first look. Especially if we consider the possibility of the business failing. This may sound terrible but, looking realistically, 50% of all small businesses fail during the first year. The average amount of money to begin operating ranges from to be anywhere from $25,000 - $35,000. That would be an expensive loan! Especially, considering that during the first year a business is open, it is hardly, if ever, profitable. But what would happen if you decided to start small? Fun fact: 60% of the top 100 businesses in the United states started with $5,000 or less! Look at Apple! Apple was started in a bedroom in Cupertino, California in 1976. They didn't need a fancy storefront! They also did their own advertising. The idea here is to start small and let your business grow organically. The idea that all of these loans need to be taken out to pay for a space, advertising, etc. is crazy! There are ways that a start-up business can start for under $5,000 and begin in your own home! Begin to sell online, in your garage, have local merchants test-run your materials for you and see how your products do. These are just a few ways you can create a marketable business. Think about this, if your first business fails, you're out $5,000 instead of the $15,000 - $20,000 you would be otherwise. You could start a franchise organically for the same price as your original plan! Just remember, slow, steady, and smart wins the race every time! Plus, many people are more likely to support a small local business that is trying to stand on its feet. If you have a business idea, and want to learn how to grow organically, send an email to email@example.com and we will assist you as quickly as possible!