• HOME
  • ABOUT
  • BLOG
  • MARKETING CONSULTATIONS
  • Build. Stand. Thrive.
    • Facebook
    • Instagram

Browse

  • home
  • book appointment
  • contact
  • Email
  • Facebook
  • Instagram
  • Medium

3

affordable coaching microbizchick

Microbusiness Mentor

Mentor to microbusiness owners and creatives

Foundations, Microbusiness

Needs Of A Microbusiness Owner

retail store mannequins

When I first made the jump from a home-based, direct-selling independent contractor to starting my own company, I was excited to be a part of the Small Business Owner “club.” I finally felt like a real entrepreneur building my own dream!

I began with only $500 and an idea. I was determined to not take out a loan so I had to build my business on a VERY small budget.

Since I didn’t know anything, I was on the hunt for resources everywhere, especially free ones. I found a few helpful sites or articles here and there, but I soon discovered that other “small business” owners had much bigger budgets and bigger businesses than I had.

COSTS OF BEING IN BUSINESS

As I slowly started my business and started to see growth, I needed help but still did not have the budget to hire anyone. All the tips and resources I found required either enormous amounts of time (which I didn’t have), hiring people, or buying specific tools I needed to support and grow my business (aka money, money, money!).

Everything costs money – or requires time to figure it out on your own.

It didn’t take long before I realized I didn’t fit into the typical “small business” category. By definition, a small business is a company with up to 500 employees! Compared to my little-‘ol-me, mom-and-pop operation, that sounded like BIG business.

At one point I had 3 part-time employees, but most of the time, I was the only one operating my boutique.

I wasn’t a small business, I was a MICRObusiness.

SPECIFIC NEEDS OF A MICROBUSINESS

Microbusinesses are unique in a variety of ways. A microbusiness:

  • Requires the full attention of the owner. The owner works the business, and if they have any employees, it is a small support.
  • Owners are not as readily available to join networking groups or attend conferences because of the needs of their business.
  • Budgets are very small, making marketing and advertising extremely costly.
  • Not much room for error. For bigger businesses, a mistake may be expensive, but they can usually absorb it and move on. In a micro business, they are sometimes one bad week in sales, one bad marketing program, or one snowstorm from closing their doors. Or they find that their personal savings are regularly bailing out the business to keep the doors open.
  • Owners juggle all aspects of the business. They are the sales team, buyers, accountants, marketers, social media experts, bloggers, janitors, etc.
  • As their life goes, so goes the business. If a microbusiness owner gets sick or has a family emergency, business is closed.
  • Most microbusiness owners start a business to pursue a passion. The majority are untrained in the necessary aspects of finances, marketing, or understanding the legal responsibilities of being a business owner.
  • Time is their biggest enemy. Having to learn the ins-and-outs of business ownership, run the business, find new clients, and everything else – time can be the largest issue for a microbusiness owner.
  • Sometimes they get paid. Sometimes they don’t. One of my biggest frustrations was the assumption that I must be “loaded” financially if I was a business owner. The fact is, most microbusiness owners are pinching pennies more than anyone else. They live at or below the poverty level. That’s because, especially when you are first starting out, a microbusiness is like a newborn baby. It takes everything from you and gives nothing back. You work on hope.
  • Need practical, step-by-step, easy-to-understand help. Forget all-day seminars covering philosophical topics and strategies for a growing business that applies to companies much farther down the road and with bigger budgets. Microbusinesses need practical help in learning how to make a website, manage time, or to identify their target customer. And in quick, short snippets that are easily digestible.

No matter if you have a product-based or a service-based business, the needs of a microbusiness owner are the same: acquiring resources and tools that don’t take up all your time or empty your bank account.

If you relate to this, give me a shout! Comment on my Facebook page, Twitter, or Instagram. Also, stick with me as I share the resources and tips I find helpful as a fellow microbusiness owner – and all the skills, lessons, and tips I’ve learned over the last 12 years. Be sure to sign up for my newsletter as I chronicle my personal journey as a microentrepreneur / microbusiness owner.

Here’s to your success!

October 3, 2019

« Do Your Website and Marketing Materials Contain Boring Copy (aka Vanilla Copy)?
How To Effectively & Succinctly Answer The Question: What Do You Do? »

YOU MIGHT ALSO LIKE

  • healthy small business, woman washing hands11 Simple Ways To Protect And Keep A Healthy Small Business
  • cupcakes from sweets and smiles bakeryBaking Memories That Made A Business
  • woman holding coffee mug and looking at a table with magazinesFinding A Table Where You Belong
  • content sharing etiquette. woman working at a tableContent Sharing Etiquette: 7 Tips to consider before sharing someone else’s work.

CATEGORIES

  • FINANCES
  • Foundations
  • Kingdom Business
  • Marketing
  • Microbusiness
  • Mindset

Join The List

looking for something?

Coach With Me!

affordable small business coaching
INSPIRATION comes in the most unexpected places... INSPIRATION comes in the most unexpected places...

This week is all about getting my creative juices flowing. So, I decided to pull out the boxes and totes that collect dust around the house and go through them. Many I have not opened in over 20 years.

This box of letters is from the 80s and contains magnificent memories long forgotten and inspired me for a feature article in a magazine.

I hadn't thought of going through those boxes - ever - but when the thought did come to me, I didn't ignore it but wondered if it was something I should explore.

I'm so glad I did.

I wonder where others have found unexpected inspiration?

#unexpected #creativeinspiration #memories #oldletters #1980s
BRAINSTORMING DAY. I try to do something creativ BRAINSTORMING DAY. 

I try to do something creative while brainstorming. This collage represents the theme of the next magazine issue for @paolalanemag . 

I really do love what I do! 💕

#brainstorming #brainstorm #creativity #microbiz #collage
MOTIVATION: I'm a very visual person so to keep m MOTIVATION:

I'm a very visual person so to keep myself focused and motivated, the first thing I do in a project is to create a graphic. Then, I keep that graphic in front of me when working. I do it for each magazine issue (@paolalanemag )and this is a graphic for my upcoming book.

Stay motivated, my friends!

#motivation #microbusiness #microbiz #microbizchick #staymotivated #writingabook #microbusinessmentor #microbusinessisbigbusiness #micropreneur #solopreneur #soleproprietor
I love Mondays! It sets the tone for the entire we I love Mondays! It sets the tone for the entire week.

Today I'm doing research for my book. Not my favorite thing to do. I'm a beginning and ending person: I love to start a project and I love to finish it - the middle part...ugh. 😆

Here's to your "grind" for this week! 

#riseandgrind #eatyourfrogfirst #microbiz #writingabook ##ılovemondays
Time spent in preparation is time and money well s Time spent in preparation is time and money well spent.

AMEN!

#preparation #timewellspent 

--------------------------
#microbiz #microbusiness #microbizchick #smallbusiness #smallbusinessmentor #bizquote #businessquote #micropreneur #micropreneurs
Yep. It’s a blessing and a responsibility. Har Yep. It’s a blessing and a responsibility. 

Harder than I thought. Better than I imagined. 

#microbusiness #bosslady #entrepreneur #timetowork #itsabusiness

Microbusiness Mentor

Posts On Mindset

business woman sitting in chair

12 Ways To Generate Fresh Ideas For Your Business

Today I was stuck. Standing in my office, I READ MORE

Every Day Is Preparation For Tomorrow

One of the greatest understandings that guide me READ MORE

female entrepreneur

Focused and Intentional

A good friend of mine has reintroduced me to what READ MORE

© 2021 Living Free Enterprises, LLC (Website created with ❤︎ by MicroBiz Chick)

THEME BY ECLAIR DESIGNS