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'Golden era of small business' is beginning, says entrepreneurial expert
By ANN SILVERSTEIN
Posted: 2/1/2010 10:35:49 PM

In a USA Today piece, entrepreneur and writer Steve Strauss asserts that now is the perfect time to start a business.

While acknowledging economic uncertainty, Strauss points out the opportunities afforded by the internet, developing technologies, and globalization. He names some key points for entrepreneurs to remember while developing their businesses.

Many small business owners are guilty of "mistaking passion for business acumen." Though enthusiasm for the project is important, an entrepreneur should capably and comfortably handle the day-to-day duties of a businessperson.

Another balance worth striking is between what Strauss calls "vacuums and waves." This means both locating areas where a business can stand out and be unique, and keeping up with widespread trends.

One such trend is online marketing. The accessibility and affordability of online marketing tools makes it a vital part of any small business' success. Other technologies - software, gadgets, mobility - can be equally useful.

Strauss does caution starting entrepreneurs from emphasizing their originality too strongly. Risks may be better taken after a business is established and stable.

Calling small business startups "critical to a sustainable recovery" of the economy, outplacement firm Challenger, Gray & Christmas conducted a study finding that 8.6 percent of laid-off workers started their own business last year, up 3.5 points from 2008, says the New York Times.




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