How to Start a Successful Small Business in 2020 and 2021

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It’s safe to say that a lot of things look different in 2020. While we are living in challenging economic times, it’s also a time when the economy is brimming with new business opportunities. If you are looking to move your career forward by starting a small business, the key is to learn how to strategize during the pandemic and find resources that can help you along the way. From utilizing veteran services to working with companies like Rhino Marketing Group, here are some tips to keep in mind as you set the stage for your next business venture:

Finding Veteran Services

If you’re a United States veteran, there are a number of resources worth checking out that could help you achieve your business goals:

  • Research the many grants out there created specifically for veteran entrepreneurs.
  • Look into the SBA’s veteran-focused Office of Veterans Business Development (OVBA), which is a great resource for learning about special programs and initiatives that specifically help veterans.
  • Learn about the various non-government companies and organizations that provide financial assistance, training, and other resources for veteran small businesses, such as StreetShares, Hivers & Strivers, and American Corporate Partners.

Growing Your Knowledge and Skills

Whether you’re starting your first business or have been an entrepreneur for many years, there’s always room for growth.

  • Improve your knowledge, skills, and career prospects by pursuing an online business degree.
  • Read every business and leadership book you can get your hands on.
  • Find a mentor who has experienced business success and can guide you through challenges.

Laying a Solid Foundation

Getting off to a solid start is critical for any type of business:

  • Determine what type of business you could be successful in: assessing your talents, skills, and interests is a great place to start.
  • Develop a comprehensive business and financial plan.
  • Choose a business structure that meets your business needs, register your business name, get the right licenses and permits, and fulfill any other legal obligations.
  • Hire a team like Rhino Marketing Group to build a top-notch website and market your business.

Achieving Long-Term Success

Along with maintaining perseverance, there are a few practical things you can do to put your business in a position for long-term success:

  • Ensure that you have a dedicated workspace that helps you to stay productive, whether it’s a rented office space, coworking space, or home office.
  • Get all the necessary tools and practices in place to communicate and collaborate with your team.
  • Be selective in the hiring process; aim for finding quality employees who will stay for the long term.
  • Try to keep a healthy work-life balance so that you can avoid burnout.

As long as you prepare and are willing to make adjustments along the way, you can start a successful business, even in the middle of a global pandemic. If you’re a veteran, remember to research all of the resources available. No matter what kind of business you want to start, consider how you can improve your knowledge and skills, lay the proper groundwork, and take the necessary steps toward long-term success. And start out on the right foot with a top-notch website from Rhino Marketing Group!