Before the internet existed, any new business followed the same advertising procedure: flyers, newspaper advertisements, radio adverts, etc.

Domesticate, automate, forecast, build relations, incentivize: minimize lead time for efficient supply.

Estimate, outsource, contract, reduce production, review: practical cost-cutting for business profitability.

Diversify! Mutual funds, contingency funds, real estate, and tax-saving options for smart small business growth.

Essential studies for small business success: legal, technical, operational, economic, financial analysis.

Minimize business risk: identify, strategize, act, monitor, evaluate, & control.

Small businesses face economic, competitor, financial, marketing, & natural risks. Advance preparation is crucial due to limited funds.

Osterwalder's Business Model Canvas is a 1-page template with 9 segments: customers, value, channels, relationships, activities, resources

SWOT, PEST, Heptalysis, competitor, & customer analysis are key business tools. SWOT: internal/external. PEST: environment.

Start a business: idea, SWOT, environment analysis, competitor research, plan goals. Dedication and analysis are key to startup success.

SMEs vital, yet face funding, materials, tech, infra, market issues. Funds are key. Government support needed for SME growth.