Starting your own small business or buying a small business is the hardest thing you will ever do. According to the SBA’s 2019 survey (we don’t talk about 2020), there’s only a 61.3% chance that your small business will survive until it’s 5th anniversary. That’s an awfully scary number to consider when you’re talking about your family’s financial security.
Surprisingly, or maybe not, that hasn’t stopped the considerable increase in the number of small businesses popping up all over the nation. In fact, the Small Business Administration reported that while 898,000 small businesses closed in 2018, 1 million opened their doors for the first time. That’s a lot of competition!
What’s the Local Take?
Here in Butte, Montana we’ve seen a definite increase in new owners and new businesses popping up in the last year. If you’re new to the area, you have no idea how much it means to us that you’ve decided to invest in our community. Welcome- we hope your stay is long, and your business does well. Small business owner, you’re to be commended for having the guts to make your dream happen. I’m so happy that you’ve decided to take the plunge.
So let’s talk about the nitty gritty, which is the purpose of this blog. Once you decide to open a small business, it’s all about making it a success. How do you do that? Did you do your due diligence before opening? Is your product unique enough to create a niche in the market? What is your marketing plan? Do you have a handle on your finances? Are these questions scaring the living daylights out of you?
Who’s Behind the Buzz?
Biz Buzz is a place you can come for answers. My name is Maggie Davis, and I work with many businesses in Butte and Southwest Montana. I’ve been in radio for the past 8 years, helping small businesses like yours create some Buzz about what they offer. Now, it’s time for a secret. I don’t have a marketing degree. Everything I’ve learned about promoting your business has been learned by experience out on the streets.
To help you in your quest for business success, I’m going to write down the best tactical advice that I can about doing good business in Butte. I hope to feature small businesses right here in our community on a fairly regular basis. Biz Buzz will also spotlight advice from a few of my coworkers, who also work with small biz owners on a day-to-day basis. Stay tuned for updates.
-Maggie
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