Excitement at the thought of starting your own business venture, fear at the thought of failure, are the two major emotions that people face when thinking of starting their own business. For many the fear of failure is enough to hold them back from taking the chance at starting their own small business; however, with careful planning and some luck a small business will be set for success.
When starting a small business it is important to step back and decide what exactly the company will be focusing on. What type of products or services will it be providing and to what group or niche will the company be aiming towards as its target audience. This seems like a simple enough step however many people many people either try to cater to too broad of an audience or to too small of a group. Although trying to appeal to a large audience may sound great at first, it can be harmful for a small business. Trying to cater to a broad spectrum of people makes the company lose focus and ultimately lose its identity. Targeting too small of an audience is a problem simply because a small target group makes for a small population of potential customers.
Another thing to consider is...
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