Rise of the Small Business Owners

Small Businesses rise from the Ground

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2016 is a promising year for little entrepreneurs and business visionaries. The improvement of present day business innovation gives little organizations the chance to grow minimal effort, undertaking quality items and administrations.

A Survey by Forbes Magazine

A survey did in the beginning of the year in January 2016 by Forbes Small Business magazine (which is the small business wing of Forbes magazine) showed that in the last year (from June 2015 to April 2016 , there we more businesses started and companies incorporated than the last 6 years combined.

Online networking, Internet promoting and ecommerce enable your business to achieve potential clients in undiscovered markets everywhere throughout the world. Staying educated on the most recent patterns in little business is pivotal to keeping up importance in the constantly advancing universe of trade.

The accessibility of Internet-based innovation gives little organizations more control over brand advancement, showcasing and client engagement. With a tweet, a facebook post or a youtube video, entrepreuneurs now have the power to get any content or video go viral! Overnight a video by a small business owmer on how his 4 year old solved one of his client’s pressing problems went viral and was viewed by ten thousand people. A facebook page with 983 likes almost crashed a baekery website because they could not handle the amount of orders they got on valentines’ day!

A plumber in California tripled his revenues in less than 30 months because his video blog on plumbing attracted 1000 visitors. He mentioned that the only thing he did different was he signed up for hootsuite which integrates the top three social media platforms and syndicates content to all digitalplatforms at the same time. A tree care company in Ann Arbor Michigan had to hire new staff and crew since their website landed on the first page of google and people found them and called them for their services.

Now a lot of businesses offer the same services, and may even be superior in terms of product and service offered. But what makes the difference is marketing and advertising. And that too advertising in the digital world – or digital marketing as it has come to be known!

You can read more about this survey and some tips on growing  your small business here.

Top Niches to start a Business

One of the most common questions our team gets almost on a daily basis is “whats the best niche to start a business in 2016?”

And we almost always answer the same – “it depends!”.

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Time to Elaborate

Well its time to elaborate on this. What niche you need to get into really depends on a a slew of factors – everything from what is your background, to what state and city you live in, to how much money and time are you willing to invest?

Think about it. You may have a background in medical sales. It may be a good idea to start a business in the medical appliance industry since you already have the contacts. Or your passion maybe cars, and then its obvious its better to get into the automotive industry. One thing we can definitely tell you is what niche NOT TO get into!  I can give you a hundred examples of  people who started a business in a field just because it seemed that there was a lot of money in it – and failed – and failed big in that!

Success vs Failure

One of the most common misconceptions is that if you get into a business field where there is a lot of money and is the latest fad, you can be sure you will almost always fail. Why?

  1. You dont know anything about the field
  2. You have no passion of interest in that area
  3. You are competing with companies and business which are strong in the area you are weak at!

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I know a business owner who started a Gas station 4 years ago when gas prices were high, just because it seemed obvious there was a lot of money to be made there. Well fast forward 2 years and gas prices have fallen to a record low and he had to declare bankruptcy! At the same time a good friend of mine started an internet business – a digital marketing agency in his area- and he flourished in 2 short years! If we analyze why he was a success, the reasons just stood out

  1. He loved what he was doing and was ready to work 24 hours a day. To him it was not work – it was his love!
  2. He had a background in Internet and technology. He had a Masters degree in Computer Engineering and even during the days he had a day job, he would spend every spare minute learning and doing websites etc.
  3. He started small – without giving up his job, and once his income through the business was more than his job income, he was able to comfortably walk away from his 6 figure income.

There are so many such stories. There is a friend of mine who started a wedding photography business and was able to succeed big time , because he loved photography! One of the most common reasons people succeed in a venture is because they love what they do. Here is a great video on wedding photography.

Businesses are Booming again in Michigan

Hey all of you guys! Welcome back! This is the place we will be reviewing different businesses and different niches in every state in good old US of A and reporting some cool news thats trending!

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So with that being said, lets dive into some statistics we discovered when did a survey to find out the top cities with the most growth in businesses ever since the great recession of 2008-2010

Some Contradictions to be Cleared

I know , I know , the last blog we had put up on the state of business in USA some information which seemed to contrast what the majority of the industry news was reporting. We figured it was time to clear a few misconceptions that are prevalent in society right now.

Number 1: Compared to few years ago, the overall economy is up and growing in a steady rate. The FTC and US Labor Commission reports that even in cities like Detroit which saw a huge slump in business growth in the last decade has bounced back and is seen double digit growth in recent times.

Number 2: Some of the niches and industries which are seeing geometrical growth are surprisingly new – meaning these are industries which were created thanks to the invention of new technology. We are talking industries like Cell Phone Repair which was not even existent twenty years ago!

Top 10 Cities for Business Growth

OK, lets dive right in. Given below are the top ten cities which have seen huge growth since the economy bottom of 2008.

10)San Antonio
The city still needs to work on hiring of new employees, but thanks to new environmental regulations and new tax rules, this city is a rising superstar.

9)Boulder, CO
Boulder scored highly in ease of starting a business and on health and safety regulations. It edged out state capital Denver and Colorado Springs for a spot in the top 10.

8)Fort Collins, CO
Fort Collins’ overall friendliness ranked No. 1 among all cities when it comes to training and networking programs. Houston has been a part of the friendliest small business cities ranking since 2013. It has a friendly state government which encourages small business’ growth!

6)Nashville
The city popular for country music city is a tax-friendly location and has a highly involved local government. It has one of the best overall cliamte conditions which is a factor a lot of people flock here. Austin remains one of the strongest cities to start a business and for entrepreneurial programs. Its usually in the top 3 list of best cities to live and work in US!

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4)Detroit, MI
Detroit is another surprise entrance in the top 10. Thanks to the now profitable big automotive companies, a lot of automotive suppliers have opened shop. The city also reduced taxes to companies which moved here, and have started a number of new initiatives! A top Detroit company, which goes by the name detroit-limoservice.com was featured in the local news to have an increase of 500% in the first 2 months of opening its doors! Visit Limousine Service Detroit for more info on this!

3) Richmond, VA
Richmond is a city on the rise. It has seen an exponential rise in confidence for job creation thanks to health and safety regulations and the rise of health care companies. Dallas comes a close 2nd for the same reasons.

Manchester-NH

1)Manchester, New Hampshire
Surprised? Manchester, New Hampshire, ranks #1 in our list for job creation, business growth and licensing regulations. This New England city is the friendliest city for small businesses.

For more information stay tuned to visit www.iman.com!