Service Business Startups

28 Sep Service Business Startups

Service Business“One thing that really helps a state like New York is having a service business community that’s very attuned to the needs of entrepreneurs,” said Eric Thompson, an economics professor and director of the Bureau of Business Research at the University of Nebraska-Lincoln according to a recent Bloomberg Businessweek article. He continued to say that the Northeast and west coast states are top contenders for startups.

But why?

These states, according to Thompson, have the highest number of potential investors and concentration of experienced entrepreneurs. Hmm.

I say, service business startups, or entrepreneurial endeavors of the same vein, don’t really need startup money AND I know there are experienced entrepreneurs all over the country (and the world). But even if you’re not experienced as an entrepreneur, you are experienced and have marketable skills. I know you do! Don’t worry about getting going, entrepreneurship can be learned very easily. That’s what I teach!

However, don’t get the wrong impression. I’m not arguing with Thompson or the article about his findings. His statement about having a service business community attuned to the needs of entrepreneurs is a great revelation. And it’s one that more people should pay attention to.

We’ve got to finally come to the conclusion that traditional employment is a thing of the past. We are literally running out of jobs. Too many people are unemployed and under-employed for us to hold on to that past. Our young folks, 20 and 30 somethings, seem to know this very well. They are getting into service business startups in droves. And they are succeeding at phenomenal rates.

This is a great thing! I’ve said hundreds of times, small businesses and entrepreneurs are the backbone of our nation and our economy. And service businesses are a great place for anyone wanting to get in the entrepreneurial game.

Being your own boss isn’t the only benefit of starting your own business. You can easily make more money than you would in a traditional job. You can work a schedule of your own choosing. You can hire employees and eventually replace yourself so you can have more time for yourself and your family. Plus you can give yourself a raise simply by expanding.

It’s all about marketing, but anyone and everyone can sell business services because each of us has skills, knowledge or experience that other people need and are willing to pay for. Service businesses can perform the service, share knowledge/consult or even teach a skill.

Even young kids can, and often do, run service businesses – such as operating lemonade stands or babysitting and after school care. There are no boundaries. And if a kid can do services for others to raise money, why can’t you?

You know you have the skills. All you have to do is make the decision and get started. Are you ready to get started? What are you most concerned about? Let’s have an open conversation about this, right here, right now.

1Comment
  • Deb Augur
    Posted at 16:57h, 28 September Reply

    Love this, Loral, and I completely agree. My business is a service business and when I first started up I needed very little money to get it off the ground. I’ve been successful for ten years now. Service businesses rock!

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