Mix of key factors help LLCs thrive

An entrepreneur with some experience is always a good sign for a small business, but finding the right mix of business qualities can help an LLC succeed.

Many small businesses just starting out often try to work out of a home, hoping to avoid rent and other operating expenses, so a business type that doesn’t require having a substantial inventory on-hand is easier to manage in the early stages, according to entrepreneur Leran Dahari writing at BetterNetWorker.com.

In a recovering economy, luxury goods or services are not always a safe bet. Dahari recommends a product that people need – and that will bring people back to buy again. He notes that the secret to long-term success is repeat customers.

Many small businesses succeed because they have developed alternative revenue streams – a gas station may also offer a car wash, or a tax consultant may also offer bookkeeping. Opening up new markets with a variety of products or services can help a business survive during tough times.

Sometimes simply offering a second product or service at a location – even if it’s a separate business – can improve revenues. For example, a business at a busy intersection can bring in additional customers by renting part of the property for a local farmer’s market or a Christmas tree lot.

Melissa Clark
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Melissa Clark

Head of Content & Customer Marketing at Incfile
Melissa sets the vision for Incfile's content marketing and customer relationship management. Melissa has more than 10 years experience in various marketing roles, and a passion for supporting small businesses as they incorporate and grow. She loves sharing information that will help business owners maximize their LLCs, Corporations and Nonprofits. In her spare time, Melissa is an active member of The Junior League and enjoys running half marathons.
Melissa Clark
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