• Owning a small business is a challenging and rewarding career.business woman image by Mat Hayward from Fotolia.com
  
  The benefits of owning a small business are numerous. Small business owners are in control of their own destiny, and with careful planning the small business can lead to the start of a career with a potential that is limited only by the talents of the owner. Careful planning and follow-through will increase the chances of success for the small business.
  
  

Be True to Yourself

• Make sure you find a business that is enjoyable. While money is important, don't follow others into a business you don't like. Make sure you are proud of the business and can share it with others. While temporary success might come, it might not be a fulfilling experience.
  
  

Find a Need and Fill It

• Find a need or product that people want to buy. If you are filling a need that exists, you will have a natural demand for your goods, and efforts and resources won't be needed to explain to people why they need what you are selling.
  
  

Choose a Product with a High Profit Margin

• Find a product that you can buy or produce cheaply and resell it for a much higher price. The higher the profit margin, the more money there will be to pay rent, hire employees and grow the business. When profit margins are low, the small business is limited in resources, which might discourage the owner.
  
  

Estimate Expenses Realistically

• Once the cost and expenses to start the small business are calculated and determined, immediately assume it will cost double the amount calculated. This will provide sufficient funds to meet unintended problems or expenses. Small businesses with a lot of capital will be able to overcome difficult times and obstacles.
  
  

Deliver on Promises to Customers

• Be sure to be honest about the product you are selling. Do not lie or be dishonest. Correct customer problems quickly and reasonably. People who are satisfied with your products or services will tell others. People who are not satisfied with your products or services will also tell others.
  
  

Market Effectively

• People won't find the product or service unless you tell them it exists. Make sure you market in a way that people will remember you. If they remember your business, they will be more likely to buy your product or select your service over other similar small businesses.
  
  

Treat Partners with Respect

• Partners like vendors, manufacturers and service providers are important and need to be treated with respect. Keeping them happy will keep their goods or services coming and keep your small business running efficiently. If they drop off or feel unappreciated, they might stop working with you and that might lead to trouble with your small business and the goods or services you provide.
  
  

Use the Web

• Use the Web to market, compare your business to others and to look for new and exciting ideas to promote your small business. The Web will allow you to reach customers as well as understand the trends and what has worked and not worked for other small businesses like yours.
  
  

Don't Expect Miracles

• People do make money while they sleep, are on vacation and on the Internet, but that is only after a lot of hard work and investment. Take the initiative at the start to invest money, time and effort into your small business. This will provide a good foundation to grow.
  
  

One is a Lonely Number

• One client, product, service or place to store your important documents will lead to failure. Back up information and be dynamic. Diversifying your small business in a way that does not over extend your resources will pay huge dividends and allow the business to appeal to more customers.