SCORE Small Business Blog

Starting: Are YOU Ready?

Finding the Keys to Your Success

I hope everyone enjoyed their Holidays and has survived the snow, ice and winter temperatures during January. It has been a challenging month, but the “down time” may have provided us with an opportunity to contemplate, plan and explore what we want, not need, to do with the rest of our life. :-)

During the month I had the opportunity to conduct two workshops sponsored by Chambers of Commerce on the “Keys to Success.” Speaking to over 200 people: entrepreneurs, interested folks considering starting a business and a number of existing business owners, was personally stimulating and encouraging. Inclement weather and a horrible recession not withstanding; the interest in starting, building and planning for 2011 was there.

I personally believe 2011 has promise and based on my friends who own and operate executive search businesses, hiring is increasing especially in IT, project management and health care.

Starting a new business is also opportunistic if entrepreneurs understand the “Keys to Success.”

I hope to share some of my thoughts over the next several weeks on what I have learned in my 40 plus years of being an entrepreneur and how I handled the “GOOD, BAD and UGLY.” :-)

None of the Keys are rocket science or unheard of philosophies in operating successful enterprises, but putting many of them into practice can assist many of you in not being one of many business failures that occur within the first 5 years.

In my several new business endeavors, a couple that have failed, the number one key is knowledge and experience in the business you want to start. If you don’t have a background in the business, how do you know the questions to ask and more important: WHERE ARE THE LAND MINES?

Yes, you can hire or partner with individuals that say they have the experience; but if you don’t understand both the opportunities and challenges available, the chance for being misguided is ever present and your ability to manage is or will be compromised.

My most successful ventures came as the direct result of me working for years in the profession, understanding where specific needs weren’t being met by the competition and having access to qualified and knowledgeable people who could assist me in determining if this was the right time and opportunity to start a business.

What do you think and what are your observations on the current climate to start a business?

Steve BloomChapter Chair & Business Mentor, SCORE Atlanta
Steve Bloom started several business ventures in mortgage banking, real estate development and management, importing and business consulting. He has invested in several startups and has been retained by owners to assist in “turning around” businesses. | @stevebloom | More from Steve

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