Tuesday, June 24, 2014

Growing Your Small Business

Important Tips to Making Your Small Business a Success

Many people say that planning and starting a small business is the most difficult part of the process to begin a startup business. Although no one would disagree with this statement, what happens within a business after it has opened and gotten off the ground is often forgotten. Running a small business and working to make it grow and be successful can also be a difficult process, but one that can be met with great reward if done correctly. Once the excitement of beginning the business wears off, and the day-to-day grind of becoming successful begins, there are some tricks to help the business continue to grow.

Be Mindful of Expressing Your Doubts

In order to launch and run a business, an individual needs to have passion and drive. Although these individuals are inspiring in that way, it does not mean that doubts don’t creep up every once and a while. As the leader of a business, there are many people looking to you – employees, partners and consumers all rely on the business owner for reassurance that the company will continue to thrive. When thinking about expressing doubts, be selective of with whom you share –rumors spread like wildfire through an organization and can have a negative effect on the productivity and confidence of employees.

You Cannot Be a One Man Show

Part of the allure of opening a business is for an individual to be their own boss. This is often associated with doing everything within the business that needs to get done and playing many roles such as owner, accountant, marketing manager, and sales representative. Although doing everything alone may work in the beginning, it will become impossible once the business begins to grow. Make sure to recognize when it is time to seek out talented individuals to help manage day-to-day tasks of the business and help you to focus on being the business owner instead of the chief, cook and bottle washer. 

Be OK with Hearing ‘No’

One of the only decisions an individual makes when opening a small business is the decision whether or not to open the business. Only they can decide to embark on the journey to become a business owner. After that, there are going to be other individuals involved in the decision making process and it is best to get used to hearing the work “no” early on. There are going to be lenders who say “no” when applying for funding, investors who say “no” when presented an idea and consumers who say “no” when you try to sell them on your passion. But when these individuals say “no” it should not be discouraging – “no” is an opportunity to revisit, rebuild, rework and try again.

Every aspect of a business will need to grow at one point or another in order for the business to continue to be successful. The space, the personnel, and technology – all of these things will need to be added to and upgraded to make the business run. The decisions that are made from when the business opens to when it begins to expand will all have an effect on the company’s potential. How a business owner handles this growth will directly determine how much success the business will see.

How is your small business doing? Would you like some help from one of the best small business mentors available today? Stacy O'Quinn has helped dozens of work from home professionals earn a six figure income by teaching them Dani Johnson training techniques. If you would like to learn more about Stacy and how he can help you, click here.

*Photo Courtesy of Richard Moross via Creative Commons License

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