“Last year, I started my own small catering business. It’s always been my dream to do my own thing, but I’m wondering if I have what it takes to be successful in business. It’s really financially challenging right now to make ends meet. I need some assistance in organizing my business, but I don’t know where to turn. Help!”

Being your own boss is one of the most desired goals on many persons’ financial wish lists. We dream of having the chance to do what we’re really passionate about, instead of working just to pay the bills. We are sure that if we could only get the chance to do things our way, we would be fulfilled and wealthy.

The reality is that owning your own business is tough. Many of the skills needed for success in business are rarely learned in the classroom, they are mostly gained in the battlefield of experience. Many highly successful entrepreneurs will point to several failed business ventures, until they finally got it right.

So how can we increase the odds of operating a profitable business?

According to Brian Tracy, renowned business strategist and rags-to-riches entrepreneur, although 99% of businesses started by people lacking business experience fail within two to three years, 80% of companies started by experienced businesspeople will succeed.

“The reason is that experienced businesspeople know what to do,” Mr. Tracy explains. “They know how to negotiate with suppliers; they know how to raise money; they know how to sell and market; they know how to manage their finances. Experience is the key- in order to start your own business and succeed, you have to learn how.”

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It stands to reason that if many businesses falter because of the owners’ lack of business savvy, then the first step to success must be to learn the techniques of success from experienced, successful business persons. You don’t need to re-invent the wheel. There is a formula for business success- you just need someone to tell you what it is and to follow through.

One organization that can help aspiring and practicing business owners to ‘get it right’ is the Small Business Development Agency, founded by Andrea “Annie Gee’ Graham. With some twenty-eight years of experience in small business, Miss Graham fits the bill of someone who knows how to be successful in business.

Miss Graham states that the agency was formed out of a vision to assist developing small businesses to realize their true potential. They provide expertise in business plans and proposals, business restructuring, rental and lease problems, staff training, raw material sourcing and more.

“The first question that many aspiring business people ask is: how do I get the money to start up?” She says that many people don’t carry out the important step of planning exactly how the business is going to be operated, before looking for start-up financing. Miss Graham insists that reviewing your business ideas is crucial before committing time and money to a venture that may not be viable.

“I encourage people to think through their business ideas in a one-hour ‘Shock and Awe’ session,” Miss Graham reveals. In this discussion, aspirants are taken through the realities of the business world, looking at marketing, cash flow, external forces that will impact their business, among other factors. “They will leave with a good picture of what it will cost to start and operate their business idea.”

For persons currently in business who are facing challenges, Miss Graham says they offer a holistic approach to find solutions. “We dissect the business to look at what is really causing the problems and make appropriate recommendations.”

Some of the questions that may need to be raised include: Is the equipment being fully utilized?  Can the business afford to pay two family members?  Can office space be rented out? On-site visits to the business places can also help their experts to arrive at workable solutions.

Miss Graham also points out that motivation and mindset are important tools to success in business. With this in mind, she often facilitates aspiring or struggling businesspeople to speak with established entrepreneurs who can give them practical advice and share their success stories.