by Stephen Bredenkamp

Created on: September 16, 2010

The one common attribute of successful startup and small companies is the attitude of the owner. There are, of course, specific technical requirements for success, such as your business idea (leading to your business plan), your customer focus, and your cash flow management and these will be discussed below. But without the correct attitude your business is likely to fail.

Angel investors, private investors who help small businesses with startup capital, work on an 80-20 basis. Of every 10 companies they invest in, 2 will fly, 2 will crash horribly, 3 or 4 will make a modest acceptable profit while the others will gradually fade away. As they all have very smart financial business plans (a requirement for bank or investor finance) it is obvious that a business plan by itself is not sufficient for success. It is commonly agreed that it is the spirit, the passion, the will of the entrepreneur that makes the difference.

*Your attitude, your passion*

As a small business owner you have to try harder. You have to love your company, believe in it, and be passionate about it. You want it to be successful, you know it can be successful, and you are upset there are people who are so unfortunate that they don’t buy your products and services. It is your duty to inform them through marketing (on-line, social networks, flyers, word-of-mouth) just why you are so good. It worked for Richard Branson. It can work for you.

* Customer focus *

You passion is revealed in your customer focus. A large organization can afford strict office hours. But when you are called on a Saturday afternoon with a potential client desperate for a new fantasy dress for her daughter for school on Monday, your response is not “We are closed for the weekend”, but rather “Lets measure her and see what we can do”. Your name, and your fame, will grow.

*Your plan*

Your passion is, of course, backed by a good business plan. The plan is not as important for the figures (although they need to be good to obtain finance) as for the thought that went into it. You know your business is good because you’ve studied it, you know the market, you know your suppliers so you know it can work. 

You have researched your products and services, and found out that people like them. You’ve researched the potential clients in your area and know that even if you can only reach a couple of percent of them you will have a thriving business. You have researched the competition and

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