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 You’re Not a Small Business.

New entrepreneurs are finding it harder and harder to build and grow great businesses. Outside of the fact that building a business is just plain hard, there are other hidden factors that are truly affecting the ability of new businesses to grow. There is an identity crisis that is misleading new entrepreneurs to believe that they are small businesses, when in reality, they are startups.

A true small business is an established organization that has a validated business model and consistent, paying customers. All of these characteristics are attractive to banks, investors and the Small Business Administration because they pose minimal risk when given resources. Take a look at the components of a REAL small business:

 

Why Startups Are Different.

Startups are different because they’re unproven. They typically consist of a hungry, driven entrepreneur with a vision to change the world. The challenge is that most startups are no more than unproven business ideas. This drastically increases the risk associated with Startup ventures and yields little to no access to resources. Startups scare conservative entities like banks, the SBA and investors away quickly

New entrepreneurs are blindly chasing a mirage of resources that simply don’t exist for them yet. This process delays and in some cases, completely destroys a business idea. Multiply this challenge by millions of new entrepreneurs every year and you may find that it’s harder to bring your business idea to life than you thought.

Falsely classifying your new business the wrong way may kill your business idea. Don’t take that chance. Take a look at the components of your new business…a startup:

Which Would You Take Seriously?

If someone asked you to invest $10,000 in their business idea, would you? You may answer “It depends”. Well what exactly does it depend on? Paying customers, a great website, professional branding or even customer testimonials? If you would expect these things before investing, why don’t you have these for your business. The raw truth is that over 90% of businesses don’t get the resources they need because their business simply isn’t mature enough to receive the resources yet. 
In order to be successful as a new entrepreneur, you must first become self dependent. This means that you need to invest your own money into your own idea, proving that it works. Only at this time do you put yourself in a position to get buy in from friends, family, bankers, organizations and investors that can help you grow. Put yourself in their shoes, if they came to you, wouldn’t you want to see signs of a great business versus just an idea?

 

IT’S HARD TO BREAKTHROUGH TAKE A LOOK

Startup Landscape

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