Personal Passion and Flexibility Drive Small Businesses
Yahoo! Small Business supports those who follow their dreams to start their own business. The Yahoo! Small Business survey shows:
- Twice as many small business owners than non-business owners say they are doing their dream job.
- 79 percent say the best thing about owning their own business is a flexible work schedule.
- 61 percent of non-business owners say they want to start a business so they can earn a living while fueling personal passions.
- One in two (51 percent) have either dreamed about starting their own business or actually done something about it.
Yahoo! Searches for Business Plans Spike in January 2011
Further evidence that Americans look to start the New Year by creating their own business can be found by looking at online search trends. In January 2011, Yahoo! Search saw a dramatic increase in searches on planning, funding and starting a business. Yahoo! Search data includes:
- Searches for “how to write a business plan” are up 746% on Yahoo!
- Searches for “starting a business” are up 451%
- Searches for “government small business loans” on Yahoo! are up 303% and “small business loans” up 145%
- Searches for “business ideas” are up 135%
Fear and Money Woes Biggest Barriers to New Small Businesses
The survey data also shows the vast majority of those who dream of owning their own business say there are barriers to achieving their goal. The number one barrier is money, with many also blaming the economy as a high-risk factor.
Yahoo! Small Business provides the following tips for people who want to overcome the “fear factor” and start an online business:
- Pursue your passion. You’ll be more successful if you sell products and services you love. The enthusiasm will be contagious!
- Establish your business credibility. Having a website, being listed on local directory sites, and being findable in Internet searches are musts. More than ever, customers do their research before making a purchase decision.
- Seek trusted advisors and partners. From your website to your accounting services, seek the help of trusted brands and trusted advisors.
- Minimize your start-up costs. For example, online storefronts can cost as little as $40/month to start up.
- Communicate with your customers. Make sure you capture email and physical addresses, when possible, to enable you to develop long-term relationships with your customers.
