It never ceases to amaze me that most new businesses begin with a concept which the new business person turns into a business implementation with no concrete market analysis of need for the business or short or long term financial or marketing implementation plan designed. Usually a prospective business owner will need to solicit the input and advice of her accountant, lawyer, financial planner or business consultant to determine the feasibility of the new venture and to seek assistance with the financial projections and marketing strategies needed to implement a successful start-up. Armed with a clear plan the implementation then begins. Implementation, depending upon the type of business, typically involves the purchase of real estate and equipment and sometimes the hiring of new employees or purchase of business support services. Then the new customer acquisition process and initial marketing begins.
Nothing can compensate for the lack of good planning when it comes to small business development.
President Calvin Coolidge must have had some experience with small business since he is quoted as having professed the following sentiment. Nothing in this world can take the place of persistence. Persistence and determination alone are omnipotent. While President Coolidge may have overstated his case in relation to life in general I do think his comments apply very appropriately to small business ownership. He maintains an office in Oswego at 106 West Utica Street and lives with his wife and three children in the city of Oswego.