Every fresh-faced, young entrepreneur believes they have a killer product and/or service and it will just be a matter of time until they make it big. Unfortunately, finding success when starting a small business isn't as easy as many people think. Before starting off with their new enterprise, entrepreneurs must make sure to have a few things in place to ensure their business flourishes. Here is a list of essentials entrepreneurs need to run a successful business.

A trusted team
Many entrepreneurs want all the glory for the prosperity of their business, but in order to reach those profitable days, they will have to bring in a knowledgeable and efficient staff. A few of the types of employees entrepreneurs should hire depending on their experience, include an IT professional, an accountant, a marketing guru and an idea person. Having this team in place will make sure entrepreneurs don't need to take care of everything, and can turn to skilled professionals for their IT or business budgeting needs.   

An online community
Entrepreneurs can't expect people to just simply know about their business; they must do their best to give people a chance to learn about what their firm has to offer. Before launching their business, entrepreneurs should engage social media (social networking sites, blogs, discussion boards) to give potential customers an opportunity to talk about the business, as well as read up on information about the new firm.

A source of capital
There are many places entrepreneurs can look to receive the funding they need to keep their business afloat and sustain its operations. Business credit cards, venture capitalists and traditional bank loans are a few things to research. With money stashed away, entrepreneurs can focus on cash flow forecasting to get a better feel for what their firm will look like six months to a year down the road.

A worthy competitor
Embracing competition is important for entrepreneurs because there will be very few businesses that don't have to compete for customers. Entrepreneurs that see how their business stacks up to other firms in their industry will be able to determine their strengths and weaknesses so they can make the necessary improvements to make their firms more successful.

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