Global B2B buy sell marketplace: bytrade.com Always Err on the Side of Survival It is natural to want your business to grow, and even when you are just starting out, you are already thinking of ways to help your business succeed and become profitable. Sometimes the best business decisions are made with the survival of the company in mind, as opposed to taking chances in the hopes that they will result in growth and success. Building a company at a slow and steady pace, using the survival of your business as your motivation, can help you to avoid situations that could cause you to close your doors for good. Build a Network No small business can succeed by itself. You will come to rely on your suppliers to keep the products flowing, your bank to keep the capital flowing and your customers to keep the revenue flowing. Understand right from the beginning that you cannot succeed without building a strong support network, and then set out to build that network right away. Establish a relationship with a corporate attorney whom you can look to for advice, and then line up the services of an accountant who will help you to keep your books in line. It also helps to have a network of other businesspeople whom you can call on for advice. In some cases, you can network through your local chamber of commerce, or there may be small business networks operating in your area that you can become a part of. The stronger your support network, the better your chances for success. Business and Strategic Planning In many cases, a small-business owner will get a business idea, secure some funding and then start trying to make his way. If you want to give your business a chance to succeed from the very beginning, then you need to put together a good business plan and follow that plan. Your business plan is a general outline of what your business will be doing, how it will be structured, what your initial funding will consist of and what kind of customer base you intend to sell to. You should also put together strategic plans that outline how you will manufacture products if you are a manufacturer, what sales approach you will use to reach the audience you outlined in your business plan and what kind of marketing you will use to advertise and grow your business. A strong business plan supported by a series of detailed strategic plans will help you to stay focused when you start your business.