(Photo by Morgan Lane Studios • Source ThinkStock)
(Photo by Morgan Lane Studios • Source ThinkStock)

Many folks think about what it would be like to own your own business. But, many have no idea where or how to start. Here are a few fun facts about how new business owners think and how they make their small business a reality.

Fun Facts About Business Startups

  • 49 percent of business owners got the idea for their business at their previous job, 16 percent got inspiration at the kitchen table, and 9 percent while on vacation, at a party or some networking event.
  • 34 percent started their business in the spring, 23 percent in the summer, 22 percent in the fall and 21 percent in the winter.
  • First Priorities: 21 percent began promoting their business by networking, 18 percent started by writing a business plan, 17 percent got needed equipment, 10 percent got advice from entrepreneurs, 9 percent concentrated on finding a business location and 7 percent looked for financing.
  • Motivation to be Successful: 37 percent report personal achievement as their primary motivation for success. 28 percent are looking for financial stability, 12 percent want to give back to their community, and 10 percent want to develop great customers.
  • Pride in Firsts: 29 percent would take pride in their first award, 15 percent hosting a company celebration, 15 percent would take pride in being able to pay employee bonuses, and 4 percent reaching the point of providing employee benefits.
  • First Technology Investment: 53 percent get a laptop or desktop computer, 13 percent a scanner, printer, fax; and 9 percent look for a cell phone.
  • New Technologies: 41 percent intend to use social media as a business builder, 32 percent are exploring mobile media, and 10 percent will be using the cloud for storage or flexibility.
  • Starting another business: 45 percent say yes they would start another business, 31 percent would consider it, and 15 percent say no way.
  • The Five Year Plan: 46 percent would concentrate on growing or expanding their business, 28 percent just want to stay in business, 8 percent would like to pass the business on to a family member or someone else, and 4 percent want to build something they can sell.

Some Final Thoughts

There’s an old saying, “It’s never crowed on the extra mile.” Meaning that many people are just not prepared to tackle the arduous task of starting and running a business. It’s getting up one more time than you are knocked down.

Will this be your year to build your dream?

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