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Essay On Advantage Of Small Business

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How do small businesses have an advantage over larger businesses? Small businesses have three advantages over larger ones: they have a small amount of products, are custom made,and they have unique services. The small amount of products makes shopping more efficient for people, they don’t have to go into a store that has a wide variety of the same product. In a small business products can be custom made, this is something that consumers cannot find in a large business. In a large business the product is already made. Whereas in a small business there is the opportunity to get with the producer and decide on your own personal product. Lastly the services are unique therefore the consumer is likely to have a more personal connection to the producer. …show more content…

One main part of the business plan is that it lays out the idea for the owner. Having the idea laid out helps the owner see the problems or things that will need changed before or throughout the business's existence. Another part of the plan that the owner is in charge of is to analyze his or her concept. This is the what and why of the plan. What is the owner selling is it efficient to the economy and people around them. Why are they making their product or why is their business useful to the town. Lastly the owner makes the decisions about key business activities. This is the items vital to the business. The main elements that the business can not run without. The business owner has a very important rule in the start of a business. --------------------------------------------------------------------------------------------------------------------- How can a business plan help a business owner succeed? The business plan forces the owner to think about important activities the time they take, and their cost. Potential problems are identified. The plan helps keep the business on the mission to success. The plan can also be used as a tool for managing the business. The business plan is the main ingredient to the owners success. --------------------------------------------------------------------------------------------------------------------- Why is best to have another person review your business

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Education and application of that knowledge is crucial to building a successful business. To achieve the goals or dreams one must weigh the benefits of studying and preparing to become an entrepreneur. The objective at hand is to educate, observe, and analyze all aspects of business. One must become informed to improve the chances of having wealth and happiness in the pursuit of owning or managing a business or corporation. Studying a business’s many types and functions offer career goals and typically provide professional development and skills to succeed in any profession (Bethel University, 2011).

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A change a business owner can make is advertise their business, advertising business could bring in more customers. Leading to making more money. Ways business could advertise is social media, sending coupons or advertisements in the mail. Having an ad in a newspaper, an advertisement on the radio, making flyers.

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But any type of business can benefit as long as it requires few chаnges in its marketing strategy to reach consumer markets

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Their location is very important as many people would love a coffee on their way to work or library so that’s why you will most likely see a Starbucks on the corner of the street beside your workplace. Their coffee making skills has to be good because if it’s not then people aren’t going to go in just for the sweet treats. The furniture has to be fitting towards what type of business it is. Free internet is a massive plus because of business people that are sitting in or even teenagers will like to surf the web or check their emails before work. Key Activities Key activities represents what you need to make this store function properly, which is hire good staff, long hours of work, maintain space around the store and don’t keep customers waiting.

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Also when their would be a loss of funds by not regulating these small businesses the government could just start receiving them from the large established corporations. These benefits from this would cause the small businesses the create jobs and bring money into local areas. (Small Business Size ...) The most important of all these reason are that small businesses are what are going to bring up the economy.

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Accordingly Proper planning is one of the foremost factors for any entrepreneur to employ. Without an appropriate strategy, nothing can be achieved. Entrepreneurs who want to succeed should have a simple but effective realizable plan. A good planning plus sticking to it will be really an admirable act that any entrepreneur should do and succeed. 3.

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