Technology has made it a great time to be an entrepreneur, the Internet is making the world a smaller and faster place than ever before. You now have access to more information that helps you make informed decisions so much faster.

As a small business, you are more flexible, faster and lighter on your feet than your big business counterpart. New markets can be targeted more quickly and you can make decisions on a dime.

Here are some practical tips to help you when you first get started in the ‘business of your dreams’.

Don’t Quit Your Job

If it’s an online business, consider starting out online and part time while you have a steady income. It takes approximately 6months – 1year to get a business going and you don’t want to run out of money before you’ve even started!

Start with what’s in your means and scale up as your business grows.

Find a Niche

Not everyone can make money with a personal blog, so try and find a niche to sell to. Online, people are looking for stores that specialize in specific products. You can’t compete with the ebays and Amazons so choose a very niche product/ service and milk it for all it’s worth.

Have a Presence Online

Even if you’re not starting out an online business, having a website is a must. It broadens your customer base and may bring in leads that you would never have considered before.

That’s the power of the Internet, being in places where you can’t be yourself and sometimes in mainstream media can’t get to either.

Don’t Quit. Keep on Trying.

Yes I know it sounds so cliche, but the problem that most Internet marketers or new entrepreneurs face is the urge to quit when the going gets tough.

Learn from your mistakes and use them to better yourself and your business. Quitting before you’ve really given it a chance would mean that you would have just wasted your time and your effort.

Some people don’t realize that when bil gates became big with Microsoft 3.0, he failed with Microsoft 1.0 and 2.0 first. But he kept on trying.

And so should you.

-William Lee