In small business, there is a small handful of core inquiries always in circulation, asked and answered again and again. Mount takes a relatively brief space to ask two business-leader-turned-writers (Ken Blanchard and Scott Shane) what, in their professional opinions, are the most important factors to small business success.

Some people are under the impression that increasing the number of business opportunities in America is a key step toward strengthening our economy. When asked how small business impacts the national economy, Shane agreed in part but went a little deeper. It’s important for a Right at Home home business owner to be a good businessman who can stand the test of time, but if he has no excitement for offering in-home aid to elderly clients, his business will only be a lifeless shell.

Likewise, a Flicko’s franchisee with a heavy passion for video production will be able to work from home for long hours, but if he can’t manage a business well, there will be no work for him to do and the business will fail. Success, and thus economic stimulus, relies heavily upon having a heart and mind for the franchise business.

An Inadequate Reason for Business

The two also briefly discussed reasons for starting businesses: both the good reasons and the bad. “Starting a business for the reason most people do – because they don’t want to have a boss – is a bad reason,” Says Shane. A completely independent (aka rebellious) spirit is a problem in business. Though owning a franchised small business does involve some business freedom, it is not complete autonomy, and anyone who doesn’t want to play by proven franchisor rules is not cut out for the business.

How do You Set a Small business Apart?

When trying to set their businesses apart from the crowd, some small business owners make the mistake of trying to offer the cheapest prices. You can’t compete on price if you can’t compete on cost. After over two centuries of free market business in the US, the discussion on the best small business practices continues, and it’s not likely to end soon.

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