Small Business Speech

10 October 2016

Would you want to run your own business now? Well, what if I told you this isn’t what the average business owner does and is actually pretty far from the real true. Today’s small business owners are the backbone and drive behind the success of a business and above all, in charge of and responsible for everything the business does. However, there are many challenges that face small businesses today and an article written by Michael Alter for INC. com in 2013 listed that the major challenges for small businesses lately have been the economy, government regulations, and the tax environment (Alter, 2013).

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This is why operating a successful small business today requires attention to many aspects including management, marketing, customers, and location. I am personally a small business owner and have operated a summer rye wicking business since 2004, which explaining that is another speech in itself, so know the joys and discomforts of running your own business. Signpost: The first aspect of a successful business is its management. Body: I. Having the right management allows employees to know what they’re doing and how it relates to the goals of the business. . Every business has an owner, or owners, who first started the business and are the ones in charge or effectively the managers for the business. b. It is essential for the owners to convey their vision for the business to the employees so everyone can understand the direction and goals of the business (Kiser, 2004). c. Getting everyone on the same team and to understand what their job is is essential to the operation of a small business. Signpost: As management has to do with employees, marketing focuses on the ustomers. II. One of the most important aspects of running a successful business is knowing the market. d. Not only is it imperative to know the product or service being offered, knowing whom that good or service is focused towards is equally important. e. A quote by Scott Kiser in his Keys to Running a Successful Business in 2004 states “If everyone is your market, then no one is your market” (Kiser, 2004). Meaning a product can’t be sold to everyone but instead a specific market. f.

Knowing what the target market consists of and if there are enough customers to maintain steady business is an essential part in the success of the business. g. In my personal business, my client’s word-of-mouth marketing is one of the main ways I gain business through providing a quality service. Signpost: As marketing deals with finding the right area of customers, keeping the business of customers is a whole different part. III. Every business, small or large, needs customers to survive. h. As with marketing, knowing what customers inside the target market want is crucial for success. . How the customers purchase the service or product along with meeting their growing demand is a vital part in providing quality service and keeping their business (Kiser, 2004). j. Making sure the product they buy, or the service provided, meets or exceeds the customer’s satisfaction is essential to maintaining a quality relationship. Signpost: Just as customers are vital to a business, the location serves are equally important purpose. IV. Every business needs a location to operate from whether it has one employee or a thousand. k.

The business location can mean the difference between success and failure, which is why the location is one of the single most important factors in a small business as stated by Caron Beesley of the U. S. Small Business Administration in 2013 (Beesley, 2013). l. Some business can be operated from home, while others need a physical store front. m. Either location can work as long as it does not interfere with the interaction with the customers and the goal of the business. n. My personal business is based out of my home, but requires me to travel to each individual client since it is based on a service.

Signpost: To summarize let’s look back at the aspects required for a successful small business. Conclusion: Running a small business may seem like an easy job, but in reality, it requires attention to many vital aspects. Management is crucial for directing employees and keeping the overall goal alive. Marketing is required to know the needs and wants of the customers and customers are required to for the business to survive. Location is vital to the success of the business and the interaction with the customers.

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