Best Small Business Start Up Strategy in 2010

by J.Crawford on December 29, 2009

Would entrepreneurs be as urgent about finding the best small business start up strategy in 2010 if the economic times were at an even keel?  I’d say probably not.  There are many advantages smart business owners can harvest from an economic time of turbulent change, and really that’s all we’re really talking about with current economic down turn in my opinion.

OK, I guess it’s actually a recession. And I’m won’t pretend that millions of people have been adversely affected during the last 3 years or so, it is what it is.  Successful small business ideas will still be successful and successful entrepreneurs will still be cashing in, the question is, are you going to be one of them?

I think it bears mentioning that when the Government steps in to solve a problem, maybe it’s because its a problem to them.  It seems to me that is about what it boils down to. Do you have any problems today you didn’t have 3 years ago in your business?  If you’ve built a solid business that’s scalable, lower sales shouldn’t be a problem, at least not a critical one, right?

If I’ve learned one thing about the last three years it is to own more than one business.  Owning several business is the best small business strategy in 2010 for a few simple reasons.  The best small businesses to start will vary each year and having more options to work with makes a ton of sense.  Many online business start ups are easily changed to pick up differnt income streams based on performance during the year.

First of all, I’ve learned that one business can feed another and a problem in one business can inspire a new product or service in another business.  My online business is largely dependent on one or two revenue streams, this bugs me.

I think I’ve been complacent the last few months especially. If your like me you likely have about a dozen business ideas for every business start up you have actually launched, even the best small business entrepreneurs get complacent from time to time, so don’t fret, but ask, “what am I doing about it now”?

One of the best small biz strategies has always been multiple streams of income, but owning entirely different businesses in different industries will be hot in 2010.  The fortune 500 companies went down this track years ago, but small business owners have lagged.

One advantage we have as small business entrepreneurs is that we can take small yet concentrated niche markets that are being under-served by these large companies and capitalize on our efforts.

Even to a new entrepreneur, starting a business for the first time, I’d say start a couple.

My 2010 Best Business Ideas

Here is list of things I plan on doing with my online business in 2010.

Starting a Business in 2010

Start 2010 with an overall plan including current businesses that are earning money, new business ideas to implement in 2010, and a couple new projects I haven’t tried. Obviously this business plan will be flexible, but it gives me a framework for productivity.  Eventually even I get sick of trying to convince myself that a business idea I have is great and will make big cash.  This year I’m gonna pull the trigger on these ideas and let the marketplace decide, after all its the only way to get paid.  Starting a blog this year is one of the best investment for 2010.

Another idea I will be implementing in 2010 is to start an online business that has a tangible product. I’ve never really done this as a separate business entity.  I’ve done some direct sales and some affiliate marketing, but never an actual product. I’m thinking private label, or drop ship, something of that sort. If you have any advice in this area, let me know via the comments.

Another 2010 business goal I have is to sell a website or domain name for over 10k.  I’m not sure how I’m gonna pull this off, but I’m working toward it.

Lastly, I’d like to create a user generated content site. I have a site in mind that I already own, it just takes the leg work putting it all together. I’m planning on using word press to pull this off. Again if you have any suggestions or experience in this let us know in the comments!  I started a forum that is connected to one of my websites, actually I started it and forgot about it for the most part, ever done that?  About 8 months later I logged back in for the second time ever to find some people had asked questions and actually had some good activity.  I thinks its probably important to manage a forum if I intend to make money with one.

What is you pick for the best small business start up strategy in 2010?

Are you pulling the plug on any business ideas?

Are you transitioning to a home based business?

Are you expanding a brick and mortar business online?

{ 8 comments }

admin February 15, 2010 at 6:35 pm

Good luck Brad and thanks for the kind words.

Passion is powerful and so is a plan. I’d work on your plan. That freaks some people out, I’m one of them, and we think it will be boring.

I feed off inuition, as it sounds like you do as well, I’d recommend keeping my feet on the ground with a solid plan.

Make it a Great Year, You’ve got What it Takes!

Brad West January 12, 2010 at 10:56 pm

I am totally tripping right now, The month is about half over and I have everything except the product. You know the very thing in witch is the passion I will drive to become a brand.

You seem to have a handle on an idea or two that is great. I think I have spent so many years learning how to do the fundamentals I never included the what with and now there is a bit of a lost feeling.

The most important tools are focus and self-discipline. Yes SEO is important as is social media, perseverance will win.

Thanks for the post
You have stimulated me to focus on my passoins.
Brad West
.-= Brad West´s last blog ..Business Development =-.

admin January 11, 2010 at 7:18 pm

I’m always open to link exchanges faith, I’ll see about emailing you soon.

admin January 11, 2010 at 7:17 pm

Thanks Alex for speaking up and you’ve got an interesting point. Entrepreneurship is a game of calculated risk and this alone seems to draw people, much like yourself to the industry.

alex January 9, 2010 at 1:43 am

What I like about small business owners is that they are not afraid to take huge risks and lay it all on the line. But, I agree they do need a lot of help with their marketing. I think having them go the social media and email route is not only the least expensive but its also the most effective. Thanks for the stats!

alfredmarteen January 7, 2010 at 4:13 am

According to the study, the most important tool for small businesses to succeed in 2010 is search engine marketing, while email marketing, public relations and social media cited as crucial for success.
23.8% of all small businesses reported that search engine marketing was the tool most needed for their business to succeed in 2010.
With Facebook and Twitter being among the leaders of the Social networks, marketing as a small business is being transformed..

alex January 7, 2010 at 1:48 am

Respondents according to the Vertical Response survey appear to need some differentiation with the use of SE marketing and Social media Marketing

Faith January 3, 2010 at 11:16 pm

Hi,

I came across your website and was wondering if you’d be at all interested in doing a link exchange? I have a few sites related to working at home, etc (2 are PR2) and I think that an exchange would help benefit the both of us. I didn’t see anywhere to contact you so I’m leaving a comment, hope that’s ok. If intersted, please contact me at the email I provided.

Thanks!

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