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Archive for category: Starting a Business

Why is Starting a Business So Hard?

Blog, SBDC News, Starting a Business

Why is Starting a Business So Hard?

by Kurt Forster | May 24, 2022

There is a public notion that starting a business is very hard. And there are a variety of common sayings used to reinforce that idea. You may have heard such things as, “It takes money to make money,” and “It’s not what you know, but who you know,” or even, “Great ideas are hard to come by.”

But the truth is that starting a business is not as hard as most people think it is.  In fact, there are more than 2.5 million businesses in Florida and more than 31 million businesses across the United States. Sure, some of them were started by rich, influential people, with great ideas; but the truth is most of those businesses were started by ordinary people from all walks of life.

According to Small Business Trend, a large majority (69 percent) of small businesses started from home and about half of all businesses remain home-based businesses. Even more revealing, about one third of all businesses started with less than $5,000 and an owner with no more than a high school education. Most of these new businesses didn’t have the newest and greatest ideas to revolutionize the Internet or change the way business is done in their industry.

Instead, they took what they knew from their own lives and applied it to an idea for a business. It wasn’t significant resources beyond the rest of us. In most cases these business owners didn’t start with better education, more money, or more political connections than the rest of us.

Still, getting started can feel paralyzing for some people who have considered starting a small business. Is there a secret ingredient to get over start up paralysis? For many the fear comes from a lack of information about how to get started. The missing ingredient is nothing more than information on how to comply with local, state, and federal requirements. The good news is, there are resources available at no-cost to help with these things, from one-on-one confidential consulting to webinars.

Don’t let a lack of information hold you back from reaching your small business goals. While certain business categories may require special licensing of highly specialized skills, many do not. For example, doctors, nurses, architects, engineers, and general contractors, all receive a great deal of training before they can obtain a professional license to operate on your body or build your home; but millions of businesses require much less preparation.

Another issue that often slows people from getting started is fear about writing a business plan. While there is no requirement that you write a business plan; your chance for success increases dramatically if you start your business with a well thought out plan. Here again, your local economic development resources can help.

For instance, the Florida SBDC at USF region has a team of experts dedicated to sharing the information you need to be successful. We can coach you on how to research your business idea, identify and project your potential resources, develop your business plan, borrow money, market your business, measure your success, and of course comply with necessary regulations, all at no cost.

Whether you just need a little information to comply with local state and federal requirements, or you want to develop a formal business plan; there are a plethora of no-cost resources available. Not every client starts out at the same spot or uses the Network in the same way. There are two primary ways to get started with Florida SBDC Network.

  1. Sign up for one of the dozens of workshops available at com/training-calendar. Literally thousands of entrepreneurs have started with the starting your business workshops available there and then moved on to the other workshops that cover topics like writing a business plan of getting money to grow your business.
  1. Sign up for no-cost, one-on-one business consulting at com/schedule-consultant. After signing up you will be contacted by a Florida SBDC Network consultant to set up a consulting session specifically for your business needs. Consultants have a variety of expertise from starting a business to selling a business and everything in between. If you are just getting started, we can help with information about choosing a legal structure, registering with the State and IRS authorities, and obtaining any other necessary licenses or permits.

Resources such as this make it a lot easier to start a business. So don’t buy into the hype that it’s too hard. Utilize the resources available to you to make your entrepreneur dreams come true, like so many before you.

Author

Kurt Forster

Kurt Forster

Consultants, Forster, Pinellas

Florida SBDC at Pinellas County Economic Development
Specialty: Marketing and Strategic Planning, Business Planning, Financial Management, Capital Access

Kurt Forster found his interest in business consulting and training working at the USF Center for Organizational Communication while completing his master’s in communication. Later, he put that experience to use, owning and operating two market research businesses. The entrepreneurial spirit stuck with Forster even while working in large organizations, opening new offices for St. Petersburg College and later the State of Wyoming’s Business Council. Additionally, he led marketing efforts to redevelop downtown St. Petersburg as the Director of Marketing for Bay Plaza Companies. He developed his enthusiastic facilitator style working in a variety of teaching positions from alpine ski instructor and Sea World animal trainer to college instructor. Forster is also a certified instructor for NxLevel Business Training Programs and Kauffman Foundation FastTrac TechVenture Program, and is a Certified LivePlan Expert Advisor and a Certified Profit Mastery Facilitator. Forster also founded Common Ground, a downtown development organization in St. Petersburg, and assists a variety of technology and entrepreneurship organizations throughout Tampa Bay.

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November 15, 2013/by admin
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May 25, 2022/by admin
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When Starting a Business, What Comes First?

Blog, Business Plans, Buying a Business, SBDC News, Starting a Business

by Kurt Forster | April 29, 2022 The question of what to do first when starting a business comes up a lot when aspiring business owners first contact the Florida Small Business Development Center. In most cases, new entrepreneurs already have a good business idea, some potential customers, plenty of planning – at least in […]

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May 2, 2022/by sbdclarry
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Grand Opening Basics

Blog, Featured News, SBDC News, Starting a Business

by Debra Schweikowsky | February 18, 2020 Opening a business is not something that happens overnight. It takes a lot of thought, commitment and perseverance. Because of this dedication, for many business owners, opening a business is like having a child or another spouse. After putting in all of the time and effort to open […]

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February 26, 2020/by admin
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Jumping the Hurdles of Obtaining a Business Loan

Blog, Featured News, Finance, Starting a Business

by Brad Owens | June 6, 2019 No matter how successful a business may be, there are many business owners who find themselves in situations where they need to obtain a business loan in order to take their business to the next level. Whether it’s going from renting to owning the business property or maybe […]

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June 12, 2019/by admin
https://sbdctampabay.com/wp-content/uploads/2019/06/business-loans-hurdles.jpg 1297 1894 admin /wp-content/uploads/2021/10/Locked-Host-Logos-Horizontal-USF-Small-e1635274663378.png admin2019-06-12 16:32:282021-12-31 05:40:01Jumping the Hurdles of Obtaining a Business Loan

Starting your Food Business: Execution, Consistency and Growth

Blog, Featured News, Starting a Business

by Kyle King | November 20, 2018 As we have discussed the research that goes into establishing your piece of the market, and the considerations in knowing your numbers along with how to manage them, it is time to determine how you and your team plan to execute service in your business. As you have […]

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November 27, 2018/by admin
https://sbdctampabay.com/wp-content/uploads/2018/11/starting-restaurant-usf-sbdc.png 370 700 admin /wp-content/uploads/2021/10/Locked-Host-Logos-Horizontal-USF-Small-e1635274663378.png admin2018-11-27 18:50:432022-01-01 22:33:19Starting your Food Business: Execution, Consistency and Growth

Starting Your Restaurant: Know the Numbers and Manage Them

Blog, Featured News, Starting a Business

by Kyle King | November 20, 2018 Most entrepreneurs that are looking for their start in the food service have worked in the industry at some point in various positions. The food service industry is notorious for a lack of education in financial and operational skills needed to properly manage the numbers. This is but […]

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November 27, 2018/by admin
https://sbdctampabay.com/wp-content/uploads/2018/11/starting-restaurant-usf-sbdc.png 370 700 admin /wp-content/uploads/2021/10/Locked-Host-Logos-Horizontal-USF-Small-e1635274663378.png admin2018-11-27 18:47:382022-01-01 22:33:35Starting Your Restaurant: Know the Numbers and Manage Them

Starting Your Restaurant: Do the Research

Blog, Featured News, Starting a Business

by Kyle King | November 20, 2018 With the food industry being as vast as it is varied in terms of offerings and potential, it is crucial that you do your due diligence before you launch your brand. Passion for food is traditionally a key component of food service owners/operators. Passion is often the enemy […]

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November 27, 2018/by admin
https://sbdctampabay.com/wp-content/uploads/2018/11/starting-restaurant-usf-sbdc.png 370 700 admin /wp-content/uploads/2021/10/Locked-Host-Logos-Horizontal-USF-Small-e1635274663378.png admin2018-11-27 18:43:332022-01-01 22:34:06Starting Your Restaurant: Do the Research

6 Questions to Consider Before Selecting an Entity for Your Business

Blog, Featured News, SBDC News, Starting a Business

by Mitch Lairmore | August 17, 2018 One of the decisions new entrepreneurs need to make is the legal structure for their business. Of course, this is something that requires guidance from your attorney and accountant because every situation is unique. However, before you talk to your service providers, it is helpful to consider some […]

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August 28, 2018/by admin
https://sbdctampabay.com/wp-content/uploads/2018/08/image-180828042458.jpg 356 356 admin /wp-content/uploads/2021/10/Locked-Host-Logos-Horizontal-USF-Small-e1635274663378.png admin2018-08-28 20:26:342022-01-01 22:51:036 Questions to Consider Before Selecting an Entity for Your Business

Should You Outsource Your Bookkeeping?

Blog, Featured News, Finance, Growing Your Business, Starting a Business

Are you not the bookkeeping type? Are your monthly volume of bookkeeping transactions not large enough to justify a bookkeeper on staff or has your business grown so large that do it yourself bookkeeping is no longer an option? If the answer is yes perhaps outsourcing is right for you.

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February 14, 2017/by admin
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Show Me the Money!

Featured News, Finance, Growing Your Business, Starting a Business

The 2014 Federal Reserve Small Business Credit Survey reports that small businesses rank, “difficulty attracting new customers” as their top business challenge. This statistic helps explain why many of my clients have the same request so often. Show me the money! They want to talk about marketing, advertising, promotions, social media, and any other strategy […]

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December 30, 2015/by admin
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The Florida SBDC at the University of South Florida is a member of the Florida SBDC Network, a statewide partnership program nationally accredited by the Association of America’s SBDCs and funded in part by the U.S. Small Business Administration, Defense Logistics Agency, State of Florida, and other private and public partners, with the University of West Florida serving as the network’s lead host institution. Florida SBDC services are extended to the public on a nondiscriminatory basis. Language assistance services are available for limited English proficient individuals.

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