Answer: Although it’s true that many new small businesses go under within their first year or two, there are usually reasons that can explain their failure. If you’re aware of the pitfalls associated with the start-up of a new enterprise, you can take steps now to maximize the chances that your business will succeed.

Don’t start a business you know nothing about. If you’re a pastry chef, don’t open an auto-body shop. Your experience, skill, and knowledge of the business you wish to run are key to its success.

You’ll want to conduct extensive market research to determine if the product or service you will offer is currently in demand. Define who you’re marketing to and target your message to them. Also, consider the most favorable time to market your product or service (e.g., toys at Christmas). Of course, another key to your success is location, location, location. Finally, plan your advertising campaign and consider how you will distribute your product or service.

Pay attention to your competition. Be sure your product or service offers your customers something your competitors do not.

Set up a written business plan detailing the design of your business growth. Organize a start-up team of people who have abilities you lack. Determine how you will obtain the capital to finance your project, and be sure you have adequate capital. More importantly, make sure you have enough to live on. Many new businesses do not generate income immediately. Finally, include in your business plan an exit strategy for closing the business should things not work out as you had hoped.

Hellooooooo Northeast PA!

We’re excited to launch our first official blog for CONNECTIONS MAGAZINE. To some we’ll always be print but, times are changing and CM is changing with them. We are now online with a great new website and this blog. We’ll come at you from all directions giving you exciting things to think about and to comment on.

From the publisher, editor, sales, production, and writers standpoints on issues, we’ll offer different perspectives on everything from the arts, entertainment, recreation, lifestyle, and on issues affecting our area….in real time with real information.

We hope this blog provides you with a deeper insight into our magazine, who we are at CM, and what makes northeast PA and beyond tick.

We’re very excited to be out here talking to you! Let’s keep the line open, decent, and positive so we can ALL stay connected to each other and to what matters in our area.

At the end of each post, you can click on the author’s name to get bio and profile information. We’ll also have guest bloggers from advertisers, professionals, local government, and prominent people that make things happen providing you with additional perspectives and insights.

Keep on the lookout for upcoming posts from our staff each month. If you’re interested, RSS feeds are available for all posts or specific categories.

Thanks so much for visiting our blog. Enjoy!

- Connections… stay connected to what really matters.

PS: Enjoy our very first submission by Davis R Chant, the king of real estate. Dave just celebrated his 70th birthday in December and his company is celebrating its 45th year in serving NEPA’s real estate needs in 2010. Congratulations Davis R. Chant Realtors! You truly have set the standard for hometown service and big real estate results!

Deborah Bailey,
Publisher

The $64,000 question is do you think we are about to enter real estate’s next evolution???

I think so. I think we are going to see the Baby Boomers, many now reaching 62 years of age, coming to Connections’ neck of the woods to find a McCottage rather than a McMansion.

The McCottage buyers want to be no more than 2 hours drive from their homes, whether it be in the Big Apple or the surrounding urban area, and when they get to our great Tri State area, what a great place to enjoy super weekends, to golf and ski, and art gallery weekends and holidays until it is time to retire in what we call “Chant Country”.

I think that time is now and with real estate at its greatest investment level yet, the market is ready for those buyers that want an excellent deal at an excellent interest rate in a Near Country area with an excellent quality of life.

I bet you agree with me, don’t you???

DAVIS R. CHANT
DAVIS R. CHANT REALTORS
800-372-4268
570-296-7717