Small Business and Entrepreneurs: Dealing with Risk and Failure

Many statistics and figures regarding the success rate of small business start ups may not be as appealing to some. This may be in part due to difficult and challenging economic conditions the world and market have seen in the last five years. As a result, data may suggest that small business start ups may fail. However, if entrepreneurs rely on these statistics and do not take the chance, will the economy ever fully recover?

Instead of relying solely on the statistics and numbers, it’s also important to consider how many start ups are actually on the market today. Even though the economy hit rock bottom back in 2008 and 2009, there are also more start up businesses on the market more than ever before. So here are some reasons why many independent entrepreneurs consider starting their own small businesses.

Possible Employment Risks

It’s true that many of the small business start ups were established by those individuals who were once employed by a large company or organization but perhaps have since lost their job, lost their pensions, lost retirement investments, or just became sick and tired of the corporate world. The luxury, convenience, and flexibility of owning and operating your own small business has given many entrepreneurs the peace of mind knowing they are in control of their own employment, their own finances as well as investments, and even doing something they love and are passion about.

While the economy has since improved and there doesn’t appear to be as rapid of job loss as there was several years ago, entrepreneurs still aren’t taking the chance. Of course all small business start ups come with some risk, especially for those entities that require investments, sponsorship, or borrowing from a lender or substantial capital, but there is just as much risk and amount of security when applying for and accepting a job with any other company.

Failure Can Happen…

But the grass isn’t always greener: It is true that while there is a high rate of small business start ups that were established, there were also a number that have failed. Again, starting a business certainly comes with its own set of risks. However, experience is as good a teacher as any. Of course entrepreneurs, or even human beings for that matter, never want to admit failure…especially when it may have involved a significant amount of capital or financial investment. However, you will never make the same mistakes twice. Learn from your failures, start over again, and move on.

Failure Can Lead to Success

Even the most famous and successful business owners or even celebrities have failed at some point…we just may not know it. As you all know, most of the famous personalities and entrepreneurs on the business industry failed sometime in their lives. However, they admitted and recognized their mistakes and failures, learned from them, and then achieved success. Even with failure and risk, there are many reasons why you should consider a small business startup. While fear is a driving human force, it should never keep you from reaching your dreams and goals.

Marketing Tools Make It Easier for Small Businesses

So where do you start? Once they have grasped a good, unique, and creative idea and business plan, the next step small businesses can take to reach success is to consider marketing tools. The appearance of affordable small business marketing tools like toll free numbers make running and marketing a small business possible. For example, toll free numbers can provide customers more convenience while also improving the reputation of your small business as well as brand recognition.