Everyone has a different idea of what success means, and what it means to you will influence your business venture. Some entrepreneurs start a business with the intent of eventually selling it, while others are looking to establish a lifelong venture.
A recent article in Entrepreneur talks about an entrepreneurship professor, Mike Glauser, who interviewed small business owners across the country. Glauser and his team interviewed people in 100 cities to find out what made them successful.
There were several notable discoveries. One is that as human jobs have been replaced by technology, more people are turning to starting their own business. Some people are starting businesses that will become part of their community.
Location was an important consideration for these small business owners. The business owners that Glauser interviewed were not motivated by financial gains, but rather by having the opportunity to live where they had chosen to. For some, this meant being able to stay in their hometowns and have an opportunity to provide a service while enjoying their work.
The individuals that provided these responses had been in business for at least five years, and all of these factors have contributed to their success. As you go about building your business, consider what small business success means to you.
What do you love about your idea? Is community important to you or are you after a financial goal? Location plays an important role – where do you want to be based? These are all considerations to keep in mind when first establishing your business.
A solid structure will help you set your business up for success and help you prepare to handle the challenges that come along as your company grows. Contact an online incorporation services company to find out more about the benefits of incorporation, checking for company name availability and more.