Chicago-based small business owner and The New York Times blogger Jay Goltz provides the following reasons for taking the leap:
- You believe you can outdo the competition. Even if you don't invent a product or service that didn't previously exist, improving on something that does can just as easily make your small business a success. Consumers are always open to higher-quality products or services that are more efficient.
- You're a people person. This is especially relevant if you want to start the kind of business that relies heavily on a retail location. To be successful, you'll need to communicate your appreciation for your customers and stay positive. "Sometimes customers can be difficult," Goltz writes. "If you can't deal with them with a smile, maybe you should be a rocket scientist."
- You want to take full responsibility for your small business's successes and/or failures. Being open to admitting and rectifying your mistakes, when possible, is also important.
- You thrive on uncertainty. "Entrepreneurship certainly comes with excitement, danger and, as in sports, the thrill of victory and the agony of defeat," Goltz explains. "It is not for the faint of heart."
- You're a problem solver who loves solving puzzles. Bringing all the components of a successful business together and making the pieces fit can be a challenge.
- You are open to continuous expansion. However, Goltz warns, there may come a time when you need to decide you've become "successful enough" to preserve your health and relationships.
- You want to hand the business down to family members or have some other exit strategy in mind.
If you've decided to forge ahead in starting and/or growing a small business, contact us to discuss the benefits of incorporating and obtaining a registered agent in Delaware.