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Preparing Yourself for Small Business Success

 

Are you thinking of starting a small business and need to know how to prepare yourself to be successful in that business.  Below are five essential steps to developing your launchpad for small business success.

 

Make the space for your Business

Make the space in your time, in your family and in your life. Start this off by making the physical space. At least get a file and write on the front in big red letters Small Business Success, then a filing cabinet and, better still, a separate room with a desk, filing cabinet, a whiteboard and/or notice board and your own sound system, some lush green plants and some posters on the wall. Keep this room organised.  Get your family involved.  It is going to affect them so get their involvement, commitment and support early. Their input, understanding and support will be invaluable, if not essential.

 
 

 

Clarify your business vision

What do you really want to achieve with your life and how does your family feel about this.  Do you wish to make lots of money, employ lots of staff, develop innovative and useful product, provide a career for family members, travel a lot, meet lots of people, stay fit and healthy, make the world a better place to live, become well known. Remember that your business is only a vehicle to achieve your own personal objectives, not an end in itself and it is only one of many vehicles you have to achieve your goals.

 

Think like a businessperson

While your professional or technical skills or your ability to work hard and put in long hours is valuable they are not sufficient to enable you to survive. So, think of yourself as a businessperson not as a technician. You need to realise that the actual income producing work of the business is only part of the work that needs to be done.  The businessperson is about how you can make the best use of the resources you have at your disposal.  It involves your ability to develop systems, to communicate with and motivate your staff and your ability to plan for the future to research the market place and understand the real needs of your clients.

 

Develop your knowledge and your skills

How are you going to update your knowledge of your industry and of management generally? How are your skills for: bookkeeping, understanding and using financial statements, marketing, staffing, negotiation and meetings.

 

It is also important to develop non-business skills. This provides you with an enjoyable challenge and an interest outside the business as well as the opportunity to develop creativity by looking at things from a different perspective. Any learning helps develop the brain and makes you a more effective thinker.

 

Develop a personal maintenance plan

The health of your business is directly related to your health. What is your plan to ensure you have sufficient sleep, adequate exercise, enough time out for relaxation and a balanced diet.

 

Business Success Summary

Business should be fun.  The fun is where your motivation and energy will come from.  Your long term fun will be enhanced when you have a focus and a plan to reach that focus. Read the steps to grow a small business it will provide and outline for things you need to do.

  

Θ Business Hurdles                                                                

 

 

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Contact details:  mindbiz@mindbiz.com.au     

 

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