Taking on the task of putting together your very own small business can be quite a bit of a gamble. Without the right amount of research, you could end up falling to the wayside like a lot of other small businesses who will tend to shut down within less than a year's time. 

It goes without saying that one of the biggest things that you should remember whenever you are opening your own business is the actual location. As you look into the areas where you could place your new business, you want to make sure that you will be the only one so that you do not have a lot of competition within close proximity. You want to be exclusive to the area so that you are going to be able to bring in the business and foot traffic that you will need to not only survive the first year but also carry you through for many years of success.

Take the time to research a good supplier as well when you are getting ready to start your own small business. The smartest business owners will have more than one supplier so that they will not get stuck in a bad situation. Staggering your vendors will help you to keep your supply fully stocked while also keeping the pricing low. To make it even better, you will usually find that many suppliers will compete in terms of pricing when they know that you have more than one.

You need to be sure that you have services and/or products that are desirable and never open a store without going and doing a decent amount of research. Advertising is going to also be the best way to help you get the word out about your business so that you can keep the customers coming. However, you need to remain well informed about the best advertising tactics and know when you should cut out methods of advertising that may not be bringing you results. Take a look at your demographic and look at the most common ways to reach them and you will be able to put together quality advertising campaigns. 

Keep your shelves fully stocked, keep your customers happy and never be afraid to evolve if you are going to run a successful small business.