Most people have a somewhat mistaken idea of what it takes to start and run their own business. Rather than work for the man, they want to work for themselves and imagine that it will be easier, but this is seldom the case. The truth is that building a business from scratch takes a level of dedication and willingness to sacrifice that many people would not have chosen to undertake if they had only known in advance how hard it was going to be. If you want to take it easy, don’t quit your day job.

If, on the other hand, you want to work hard, achieve your dreams and make a lot more money than you would by laboring away 9-5, then starting a business may be the ticket for you. However, this begs the question of what sort of business to start. Many people do dream of being their own boss—but boss of what? Where does one find that single great idea that will lead to entrepreneurial success?

When looking around in search of ideas for small business, one should start by checking out the people around you. In order to be successful, new businesses need to identify a need that is not currently being filled and then provide it. One of the best ways of doing this is to see what sort of work needs to be done but few people enjoy doing it themselves.

dollar-544956_640Thousands of lawn care businesses have gotten off the ground simply because people love beautiful yards but don’t have the time or the interest in caring for them. Here is a great example of a need and an opportunity of filling that need.

Perhaps you come from a distant part of the country or world and really miss some exceptional ethnic dish that is not anywhere to be found in your current locale. Again, this would seem to indicate an unfulfilled need that leads to an opportunity of success. Of course this is an area that calls for some careful research.

Unless there is a large community of like-minded people living nearby, starting up a restaurant that specializes in, say, boiled frog’s eyes may be a bit of a risk. It should be kept in mind, however, that now-common items such as pizza, tacos, or buffalo wings were once unheard of except in very narrow circles.

Other ideas for small business startups do not revolve around finding something that is not being done but working out a way of doing something that is already being done but at a cheaper rate. Uber is a great example of someone who figured out a way of harnessing individuals as a competitor to local high-cost taxi monopolies.

One important factor is to find something that hopefully requires continuous patronage. A lawn care client, for example, generates cash every week from a list of established customers whereas a wedding cake baker is going to be on a constant hunt for new customers.

Pick your niche carefully and then give it everything you’ve got. Most successful individuals will always give you one important piece of advice above all others: never give up.

Today’s successful businesses must be knowledgeable about their field of business; their business competitors; local, state and national events plus laws and conditions that impact their company. They also need to be just as knowledgeable about the events in the world that affects their business as well if they expect to be able to compete in our increasing global market place. To accomplish this, businesses need to have dependable sources for obtaining world business news.

Americans are very familiar with The Wall Street Journal as a source of business news in the United States. Those who read it regularly also know it covers world news as well. The Wall Street Journal has regional offices in Africa, Asia, Canada, China, Europe, Latin America and the Middle East. The Real Time division of this news service hosts Real Time Blogs in Brussels, Canada, China, India, Japan and Korea. Timely and comprehensive business news from around the world is always available in The Wall Street Journal.

Reuters is self-described world’s leading source of intelligent information for professionals and businesses. Thomson Reuters is the world’s largest multimedia international news agency. Reuters provides current world, business, technology, small business, investing and headline news plus timely news alerts. Their journalists are subject to a strict Editorial Handbook which requires them to fairly present news information and disclose any relevant interests. Their news bureaus cover the Euro Zone (including France, Germany, Ireland, Portugal, Portugal, Italy and Greece), China, Japan, Mexico, Brazil, Africa, Russia, the Middle East (including Iran, Libya, Yemen, Syria, Iraq and Israel) and India Insight.

entrepreneur-696966_640United Press International (UPI) has had a history of reliable and credible reporting since its founding as the United Press (UP) in 1907. In 1958 the International News Service, founded by William Randolph Hearst in 1909, merge with UP and it then became known as the UPI. Today it is owned by News World Communications and is a leading provider of world news and reports on key geopolitical, energy and security topics. The Spanish language version reaches millions of readers globally.

Bloomberg Business Reports provides online reporting as well as television, radio and a mobile application business and political news reports. With bureaus in the Americas, Europe, the Middle East, Africa and the Asia Pacific region, Bloomberg quickly and accurately provides financial and business news from around the world. Business World News has an eight-time Emmy award winning news team and presents streaming videos to an audience of some 75 million viewers. They broadcast through international as well as local cable, air and cruise lines, and satellite transmissions.

Forbes is arguably the leading name in world business news. In addition to all the current world business news contained in Forbes magazine there is more in the Forbes collection of newsletters, including Forbes Investor, Forbes Premium Income Report, and Forbes Dividend Investor. Forbes publishes nine different magazines, each title beginning with Forbes: China, India, Israel, Mexico, Middle East, Poland, Romania, Russia and Spain. Regular topics include world markets, investing, logistics and transportation, business, technology and entrepreneurs.

In today’s global economy it is vitally important that businesses stay abreast of world news and current events. Using world business news services that accurately and quickly connect decision makers to the information they need to grow their businesses helps leaders make wise business decisions.

It takes a lot of paperwork, planning and imagination to develop an idea for a small business. A small business plan is an extremely essential aspect of the process. It assists the business in gaining attention, attracting investors and securing funding as the business becomes recognized in the business community. The business plan outlines the idea in writing and gives details of all the operational components that have to be managed. Below are some guidelines on writing an effective small business plan:


1. An executive summary must be written to act as a synopsis of and an introduction to your business plan. The plan for a small business should ideally be written on a single page. It should:

• Explain the concept of the business, the market it will serve and whether a product or service will be provided.
• Include the amount needed for the starting capital and how it will be utilized. If collateral or equity will be provided by you, the source should be explained.
• Describe the current position of the business, which should include how and when it was formed and the owners and directors should be named.
• Provide information on any celebrated major achievements. Make mention of any customers or clients, existing contracts or other developments that will assist in making the business a success.

2. Provide an analysis of the market to demonstrate how knowledgeable you are about the industry in which your business will operate. Outline opportunities and challenges in the field and how they will be addressed by your business.

3. Describe the operating structure of your company and why it will be successful.

4. Give details about the management and organization of your business and include an organizational chart if you have one. Include details of the management team members and those who own the business.

5. Define the sales and marketing strategy and explain the tactic that will be used to attract and maintain customers. Discuss the methods that will be used to manage growth, penetrate the market and communicate with customers and the wider public. Information on who your target audience, customers or clients will be should also be included. Make mention of any plans to depend on Internet sales and how prospects will be identified.

6. Describe the product or service that will be sold. Give details about what the business will be selling and how that service or product will be beneficial to current and future customers.

7. Make a request for funding and outline the amount of money needed to start and maintain the business. Provide a thorough explanation as to how the funds will be used.

8. Use financial statements to support your request for funding. Demonstrate how resources will be allocated and the amount of profits expected to be re-invested in the business.

9. Be ready to supply readers with further information on your small business plan. Present an appendix with a list of the documentation that will be available upon request. These should include permits and licenses, credit histories and legal documents.