This country is built by small business owners and they are taking on a lot of different shapes and sizes. Some are retail establishments in shopping center, strip malls and small stores. Others are on the web with no employees, but a great deal of volume.
People are found in direct sales, service industries, IT, consulting and the trades of mechanics, air-conditioning, landscaping and construction. Whatever format these businesses take, they make money, spend it in the community and keep our economy going. I might get slapped with a wet noodle, but sometimes it may not be a good idea to want to grow to be a big business. With that comes additional problems in taxes, insurance, legal issues and employee manuals. If you can develop a niche market, and become the best in it, you can develop a following that will be faithful to you as long as you are in business and they use your product or service.
Would you rather have an income of $250,000 and net $100,000 or do $1,000,000 and net $20,000 because of additional expenses and other issues. I have known plenty of people in that situation (not that it has to be that way). If you can duplicate the system you use and have other people who can follow it, you may have the ability to open additional locations.
At one time, I had seven different offices with various managers, and things ran fairly smoothly. Yes, it was my responsibility to make sure everything was on target, but my employees did a fantastic job and believed in what we did as much as I did. The most important thing is being able to replicate yourself.
If you’re the only one who ever does anything, your income will be limited. Think about a dentist. She can only produce what she can with the eight hour time frame she has. Yes, she can put in extra hours or days, but then the stress lever rises. If she adds dental hygienists, dental products, other specialists, uses referrals etc., she multiplies herself.
This can be applied in any business and small business makes the world go around. You may hear about the”big boys” but you are the true backbone of this country. But you do have to make a lot of noise so be sure your customers know the total scope of what you do, and tell as many other people about you as they can. This way, you only have to add additional employees as your revenues increase.
Put people on a plan so that you know you will have the resources coming in. For example, the dentist could have a special price for teeth cleaning every quarter, pre-paid and in the bank. A gardener could have a special for twice a month lawn care when paid up front, and there could be a special pre-paid oil change plan for cars.
Just start thinking about how you can stimulate someone to part with $ up front, and you will be way ahead.