Are you one of the many who lost their jobs because of the recession? Have you ever had an original idea for a business but you're too afraid to pursue it? If your answer is yes for both questions then you're in a good start to having your own small business. Here are some bits of information that may help you decide to push through with your business idea.

Big companies like Microsoft, FedEx, America OnLine, Nike, and Ben and Jerry's all started out as small businesses. For instance, Nike is a product that started out as a small business project for an MBA class of Phil Knight. At first, Phil Knight bought running shoes from a Japanese manufacturer and sold it at the back of his trunk. Phil Knight also asked a colleague's help to think of a logo that will suit his company and paid $35 for it. Now, Nike is one of the leading sports apparel manufacturers in the world. A big factor that can contribute to the business's success is your passion. Phil Knight for one loves athletics. Back when he was a coach of a university's track team, he couldn't find lighter shoes in the American market for his athletes and this fueled his idea. He took the opportunity to invest in his passion.

Another important thing to do is to develop a good business plan and marketing strategy. When Ben and Jerry's started, they opened their first shop on a renovated gas station. During summer they held free summer movie festival at the garage to attract more customers. Later on, they decided to make their ice cream on pints so they can sell in groceries and restaurants near their area.

If you are not confident enough with your idea you can consult different government agencies and private organizations. Small Business Administration (SBA) is one agency that you could turn to for help. This agency provides professional expertise, mentoring and most importantly financial aid to people who wish to run small businesses. Right now, they are encouraging more women and people of color to get into their own business.

Mistakes are inevitable. Gina Alexander is a small business owner of personalized hand bags. She lost her job in a bag company, so she decided to put up her own. She started by renting stalls but the economic setback made it difficult for her to pay the rent. She didn't give up. What she did was to negotiate the rent's amount comparable to the recent economic change. Today her handbags are featured in Vogue and Elle and are creating a buzz in Hollywood.

According to findings, small businesses provide part-time jobs and jobs for older people. In the long run, you're not only helping yourselves but others as well by creating jobs for other people. So jumpstart that small business idea now and get going.
Keywords: small business, phil knight, marketing, mba