As small business owners, we are always looking for opportunities. (I know I certainly look around.) It is important to know and understand the possibilities. It’s even more critical to know what works and does not work for your company. You have to weigh the options. I recently had to examine a project and determine how it fit in with my vision.
It’s National Small Business Week! This is a time to celebrate small business owners. Research shows small businesses account for half of our workforce. Support is essential from those looking for services/products. How can we as high growth entrepreneurs continue to work with our customers and provide the best we can?
I am thankful that my business continues to grow. I put in a lot of hard work and long hours. This is no surprise to many entrepreneurs. I laugh when my mother asks me, “Why can’t you get all of your work done during the day?” It doesn’t always work that way. I don’t know about you, but I learn something new every day. I want to share some tips that I have picked up along the way.
Growth and an increase in revenue are at the top of every small business owner’s list. According to James Cash Penney, the founder of JCPenney, “Growth is never by mere chance; it is the result of forces working together." Don’t you love it when a plan falls into place? When it happens, you have to be prepared for the boost.
There are so many resources to assist small business owners. Please do your research and take advantage of the opportunities. The daily grind and hustle of trying to make it all work definitely keep you busy, but you have to find the time to network and apply for bids or projects. Please know that I do try to abide by my advice. I spent several hours for two days this week doing the necessary paperwork to help my business grow.
Small business owners often stay on the go. We are busy with our clients, in meetings, posting on social media or researching ideas that help us stay ahead of the game. I don’t know about you, but I find it hard to make time to do the little things. I am talking about logging mileage, making my 10 - 20 calls (some of them are cold calls) a week or doing other administrative work for the business.
We always have to make choices. Some of them are super easy to make. Other decisions may take some soul searching. As business owners, we, of course, are the leaders of our companies and have to face those challenges. But, that is leadership. Leadership is about taking a stand. It may not be popular with everyone and that’s okay. You have to do what is right for your organization. We know along the way that some people will not follow the rules. As leaders, you have to find ways to make sure they don’t cut corners or be willing to part ways with them.
I continue to learn in my new venture as a business lady. Just when I thought I was on a roll and had everything under control, a more seasoned business owner threw a curve ball. That messed up ball is the tax man. As a start-up business (with just one person), I thought this tax thing was going to be easy. I have held on to my receipts. I track how much I make and how much I pay subcontractors. I set aside money for taxes.
We cannot be afraid to showcase our talent. As business owners, we have to continue to grow, take chances and try new things. I talked with a friend recently about how people often want you to be stuck in one place. Don’t let that happen. Continued training is vital. Entrepreneurs, take time to do research in your field. I must confess that I love reading articles on Pinterest. You can find great information. Also, you should attend conferences that can assist with your expansion.