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?
IT’S HARD TO BREAKTHROUGH TAKE A LOOK