Being a new small local business has disadvantages.

You can’t qualify for wholesale prices,

your advertising will cost more than you anticipated,

you will have cutthroat competition,

you will have to find a way to be better than the competition,

you will have problems hiring and training reliable workers,

you will have problems finding a good location at reasonable cost with high customer traffic if you need high volume,  

you have to thoroughly understand the finances and profitability of the business and can’t run it by the seat of the pants,

you will need enough capital to stay in business about 5 years before you actually make a profit if any,

you will have a hard time finding trustworthy competent business partners if you want to expand the business in the future,

and you will be working much more than 40 hours a week.

About 8 out of 10 new businesses fail so the odds are against you unless you already have extensive experience and knowledge about the business logistics and already know how to run the business at a profit.

If you liked this evergreen truth blog then read more of them, approximately 600 so far, and one or more of my evergreen truth books, especially COMMON SENSE, rays of truth in a human world filled with myths and deceptions.


Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.