Jul 21, 2008

The Value Of Starting Small - The Savvy Entrepreneur Series, part 1 of 10

Welcome to "The Savvy Entrepreneur Series - Part 1 of 10 - The Value of Starting Small"!

It is valuable to start small if you aspire to be a savvy entrepreneur.

When entrepreneurs dream, they often dream large. Is that good or bad? Well, if you ask many people, the problem with dreaming large is that large projects require large money to get off the ground. I recall my first seminar I launched. Rather than start small, with a handful of people in the room, I "dreamed large" and booked a room that held 600, scheduled guest speakers, booked a band, and so forth. I then went on the radio and promoted this seminar. Several days prior to the big event, we had less than 20 sign-ups for this seminar and realized I ought to have dreamed a little smaller when I launched the seminar. Or, at least I could have started smaller and held the bigger dream as a future goal. I ended up pulling the plug on that seminar after I realized a small turnout wouldn't cover overhead and lost about $2,000 in promotion fees plus a considerable amount of valuable time. It also gave me a little egg on my face at the time, too.

My point: start small.

The biggest mistake entrepreneurs make is starting too big, or even "acting" like they're big. Hey, if you're small, that means you're nimble. Be quick. Be nimble. And be DIFFERENT. This is the value of being small. Capitalize on that value. Start small and ACT like you're small.

Match your marketing with what you offer:

Don't act big when you're not big. Act small and promote the strength of being small to your clients.

If you're seeking ways to grow your business, don't be afraid to admit you're not a huge company. I'll admit that ARRiiVE Business Solutions is not a big company at the time of this writing. Will it grow? Probably. Do I need to act bigger to succeed with my products and services? Not really. Because people who hire me KNOW that I have an extensive network of resources at my fingertips. If my team can't get the job done, we know who to outsource work out to in order to complete stellar work at a highly reasonable fee.

Make sure you deliver what you need to deliver:

Maximize what you can do. Outsource what you can't do that is directly related to what you can do and need to deliver. Don't do the rest.

Make sure that you know your products and services. Build your team to deliver those services. And, if you can't hire permanent employees, build a network of outsourcing partners who enable you to deliver high quality work. I've been doing this successfully at ARRiiVE Business Solutions for several years, now.

Keep your start-up costs low:

When we start small, we can keep our cost structure low, develop a core service, then repeat and grow our marketing message until a massive number of customers consider us a valued business partner. From there, we can grow bigger. Use your noggin and be a quick, nimble, savvy small fish in a small pond and you'll eventually grow to be a bigger fish who can jump to a bigger pond.

Coming soon:

Be A Better Entrepreneur: The Savvy Entrepreneur Series, part 2 of 10. ________________________________________

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