Key to business success is to be flexible and adaptable
The Arizona Sonora News Service recently published a 3-part article on Arizona Small Businesses and their efforts to stay afloat in the though economy. Part 1 emphasizes the incredibly hard work ethic that most small business owners have, which has led to many currently thriving independent businesses in our communities.
The article highlights many important components to making sure that your business thrives no matter the state of the economy. Local First Arizona's Lisette DeMar gives a helpful tidbit in saying, “If you’re not being flexible and adaptable you’re not going to last very long.” Here's what the rest of the article had to say:
Arizona small businesses working hard to remain profitable
Most small businesses don’t start off with a plan. They just open their doors and hope for the best.
Along the way they find that the key to their success is to eventually develop a strong business plan to keep their shop doors open.
In Arizona, small businesses have increased more than 30 percent in the past 10 years, according to the Arizona Commerce Authority (ACA), an organization created by Gov. Jan Brewer in 2010.
Even though there was an increase of small businesses over the past 10 years, during the recession, there was a 1.5 percent decrease in small business development.
A business in Safford, Ariz. is one example of a business that defied the trend during the recession.
Sorellas Elite Fashion first opened its doors at the start of the recession in 2008, and are now celebrating its forth year as a successful business. Most small businesses have trouble staying open longer than three.
“Most businesses fail in the first three years,” said Ernie Webster, the manager of the Small Business Utilization Program at the University of Arizona.
The Small Business Utilization Program helps small businesses throughout Arizona by offering them networking opportunities and advise on the necessary steps to sustain a successful business.
Rachel Peck, one of the Sorellas Elite Fashion’s owners, said her mother’s first thought was “ ‘Oh, please, girls, you don’t know what you’re doing.’ But when she saw our passion for it and how serious we were, she knew she had to get involved.”
This is just one example of a business that was able to withstand the three-year fail period because of the owners’ passion, and skills within their specialty market.
Peck said that their business plan when they started was to market themselves through promotions and to through social networking.
“You’ve got to make it work, you can’t wait for people to come to you,” said Peck...
You can read the rest of the article at the Arizona Sonora News Network.