Updated: Jul 3, 2020
Hey Honey Hive, After over 18 years of growing and developing different business concepts and watching others open and shutter their doors, there are a few common threads that I find in new entrepreneurs that are seeds to success.
First to be successful you must be creative, you have to be prepared to think outside the box and sometimes live there. That said and creativity aside, I am still dumbfounded by people with what could be a great idea that will not take the time to develop a business plan or even a budget for their cost to open and maintain their presence in the market. Whether you have a great product or a shop/restaurant concept it still takes planning, development and continuous promotion.
Second, The brand of you is what you are selling. Who you are comes out in what you develop so are you willing to put yourself out there to promote your product or place? If you can't be a public person you need to find that person who will be for you, this adds to your promotional cost so again get outside your box and play with the wrapping. Everything about you should state your business how you dress, how you present yourself at public events, when you are out are you networking in other words putting your business in the hands of everyone you meet. An effective card or trinket that says come see what I have! You must eat, sleep and dream your idea.
Thirdly take advantage of your resources, programs like micro enterprise through your County IDA, the small business administration, SCORE and your local economic development office is a great resource for funding to get you up and running and not use your drain your cash on hand. Not only are these programs helpful for developing a strong plan but they are free and how often does the government give you something for your tax dollars.
I can tell how long a business will survive by the lack of research they are will to put into their project and so can banks. To have a health community we must have a healthy economy, drive the economy help your community thrive.