“It’s kind of less stressful to be a small business owner” says Australia’s Young Business Woman of the Year
Posted By Frank Mitchels on November 21, 2016
Many small business owners fail to complete all the fundamental requirements needed in running a business such as business planning, marketing strategies, proper management, etc. As a result, they remain small and unprofitable longer than necessary.
As a solo entrepreneur, you want to achieve success in your small business. But growing your revenue does not necessarily mean you have to get BIG. A small business has many edges over a big business especially in terms of flexibility and lifestyle for you as the owner. For example, by working out of a home office and having the support of independent contractors rather than employees, you can keep your overhead expenses incredibly low. This will result in significantly larger profit margins.
If your business specialises in something that is in demand or that you have created a demand for, staying small can also be perfect for you. You can just need to come up with a fun and innovative idea. This will result in a cool small business that can potentially generate lots of revenue. Because there are little to no companies competing in the market and because it is unique, it can maintain a solid following indefinitely.
Obviously you want to achieve success in your small business. But growing your revenue does not necessarily mean you have to get “big.” Read more about this topic at: http://www.smartcompany.com.au/business-advice/78923-kind-less-stressful-small-business-owner-says-australias-young-business-woman-year