By Bob Barragan
The Small Business Development Center (SBDC) has experienced a very large number of individuals that are interested in starting a new business in the coming year.
Many of these future entrepreneurs do not want to give up the security of their present job. That is why they want to begin operating their business on a part-time basis either within their home or at another location. For many entrepreneurs, starting a part-time business is the first step to creating a full-time venture that can provide the standard of living that is so often only attainable through business ownership.
A growing number of entrepreneurs are starting their businesses on a part-time basis, making contacts and establishing a base line of customers and products/services before taking the final plunge and quitting their jobs.
A part-time business can also significantly lower the financial risk usually associated with a business venture and can still provide the security of a steady income from employment elsewhere. Some operate their part-time ventures on weekends and in the evenings in an effort to "get their feet wet" in the business world and insure that their idea is feasible and profitable.
We, at the Small Business Development Center (SBDC), have seen many part-time businesses grow into very successful full-time organizations. One such individual, whom has become very successful, came to us to obtain assistance in starting a part-time business. He had an idea of what he wanted to do, but didn't know how to begin. He wanted to create a part-time operation to have an additional income while continuing his education. This part-time, one-person, business is now a full-time business with ten employees.
This individual started out slowly, working mainly by word of mouth. He was able to earn the respect and trust of clients by providing excellent customer service and by showing present and future customers his personal interest in their needs. He also mastered the art of following-up with present, past and perspective customers, a skill that is paramount for success in today's extremely competitive markets.
After he began to grow and hire people, he made sure that his employees were trained in the art of “customer service” and follow-up.
The Small Business Development Center offers free, confidential, one-on-one counseling. Some of the areas of counseling for new start-up businesses may include the development of a feasibility study and business plan, cash flow projections, business registration requirements, Federal tax requirements, basic marketing and obtaining capital. If you would like to make an appointment for free and personalized counseling for any business need, please call the center at (936) 294-3737.
