Building Your Financial House - Set your foundation with commercial-free information about money
Website Accessibility InformationSkip Navigation

Small Business Development


Skills HALF

Have you ever considered starting a business of your own?  Starting and managing your own business can ask a lot more of you in time, energy, and talent than most other jobs ever do.  It may require a significant investment of your own money and might be risky, but it may prove much more rewarding than a regular job.  Running your own business can give you the satisfaction of using your talents and doing work you enjoy.  It can be financially rewarding, too.

So where do you start?  The US Small Business Administration lists the follow six characteristics and skills associated with success entrepreneurs.  Ask yourself, am I:

- comfortable with taking risks? Starting your own business means a lot of uncertainty, for a long time.  You have to be comfortable with unpredictable outcomes and delayed gratification.

- independent?  Running a business means you have to make tough decisions, on your own, and accepting responsibility for outcomes.

- persuasive?  A business owner has to convince customers to buy and investors to support them with facts and confidence of success.  They also have to brush off occasional rejection, learn from it, and move on to the next call.

- able to negotiate? Standing your ground and knowing when to compromise is a skill that a business owner uses repeated to keep a business running smoothly and profitably.

-creative?  Being able to think outside the box for new ideas and strategies is necessary to stay on top of the business, recognize opportunities, and circumvent issues before them become major problems.

- supported by others? Starting a business takes sacrifices that will affect those around you.  Having a strong support system that understands and assists when necessary can make a big difference in your success.

What’s next?  If you answered yes to the above, time for some serious consideration.  The PA Small Business Development Centers are state sponsored programs serving all 67 counties that assist small businesses that are just an idea, starting out, looking to grow, or keeping it sustainable for the long-term.  The centers provide no or low-cost confidential consulting and training programs that address business planning, funding, financial management, marketing, operations, technology, etc.