I constantly realize that there are things that I would have liked to know before. Owning a small business is a challenge, but there are six tips that will make the road easier:
1. Follow your passion and don’t let it go. Your business probably came out of something you are passionate about, but over time, the day-to-day business will make it harder to keep that passion alive. Feed her every day by reminding you why you started it. Make sure you fall in love with a problem , not the solution. If the first measure does not work, remember what you are passionate about finding another solution for your client.
2. Money is king. Having a business is an art and a science. Art is your passion. Science is your business model . Make sure you understand your business model, it is not something that can happen to someone else. Knowing when money comes and goes is essential for success. If you know how the business works, you can celebrate your success or plan to get more money.
3. Hire smartly. Hiring a team is exciting, but it’s scary. Take your time to choose the right people for the job. Say goodbye quickly if they don’t do things right. As a small business owner, you can do many things, but you can not do everything! The people you hire should love what you hate to do so you can focus on your dream and evangelize your passion.
4. Communicate with your partners. This is a great step to attract complementary talent to grow the business, but together, as in a marriage, it is critical that you know how to communicate your values and expectations.
Make a “ prenuptial agreement ” of the business. As in any relationship, have appointments at night and remember why they started that business together in the first place. You can use this opportunity to brainstorm or talk about difficulties in a less stressful way.
5. Protect yourself from the unexpected. Think about the obstacles you can go through. Hope for the best, but prepare for those stumbles. It’s normal for things to happen that you can’t control. Do what you can to protect yourself. Apply systems and processes in your business so you can have vacations or time with your kids. Make sure things don’t get out of control if you’re not present. Respect yourself enough to make sure you can take care of yourself out of business.
6. The responsibility is yours but … You don’t have to do it alone! As a boss, it can be alone to make all the decisions. Ask for help. Not every person has the courage to start a business, but most of the people will want to help you. Learn from other entrepreneurs. Those who have some years of experience will give you very good advice. Someone who has just began can give you energy and creative ideas. The best advice I have received is from other businessmen.
Having your own business is one of the most exciting and challenging adventures you will have. Take care of yourself while setting the tone and business culture . Protect yourself to make sure the business survives the ups and downs. Take the time to plan it so you can continue doing what you love.