Business Advice: Advice from Small Business Owners

Becoming a business owner is not always easy, but becoming an entrepreneur is definitely exciting and inspiring to say the least. To do what you absolutely love, makes all the risk taking so worth it. However, starting a small business takes more than a dollar and a dream. It takes toughness, discipline, and a sense of leadership to be successful. We take a deep dive into the mindsets of these local business owners right in the backyard of the Capital Region, New York.

SMALL BUSINESS

ADVICE

Nicole Daly, Master Stylist & Colorist, is the salon owner of Hair Journeys LLC, located in Albany, NY Visit: Hairjourneysllc.com So you think you wanna start a business. Entrepreneurship is not for the faint of hearts but it can be done and you can be highly successful if you’re consistent with a few things. Being an entrepreneur for 10 years, I’ve learned along the way that there are a few tips that should be a part of your routine. These are things that you should be thinking about and putting into practice:

• Writing your ideas down. You will get lost in the business when it starts running, so writing things down helps you to stay focused when you get distracted. (And you will get distractions) • Sales - Marketing and management is important. Understanding who you are serving and why you want to serve them is very important. What are they looking for? Are you meeting the needs of the people you are serving? • Customer service - People are very forgiving when your customer service is on point. Being polite and staying professional always keeps you on top and will keep your sales rolling in. • Professional Services - Spend the money and get a good lawyer and accountant. They will give you insights before you find yourself in a bind. They help set you up for success so you don’t have to worry about your business being safe. If you can’t afford one, there are organizations that do probono work to help small businesses. Check with your local small business center. • Positive Mindset - This is important because as you grow in Entrepreneurship you will have seasons. Planning these seasons prepares you for the ups and downs of the journey. Staying calm, having faith(spiritual practice) and balance will keep you resilient. • Motivation - Why do you want to do this? What drives you to do the business every day? Make sure it’s something you can do for a while because it may not always be easy

If you keep these up, you will see your business grow and have the success you’ve been longing for.

“Entrepreneurship is not for the faint of hearts but it can be done and you can be highly successful if you’re consistent with a few things. “ - Nicole

Support a Small Business & You Support a Dream. Buy or Seek Services From These Local Companies.

Sandeep Sachdev is the Founder and owner of Appkudos and Menu2Order, a software technology company providing online food ordering solutions for restaurants Visit: www.Menu2Order.com

Paul Park is the Founder and owner of Bespoki Bowl, a Hawaiian Barbecue and Poke Bowl, and Asian Eatery restaurant located at 122 4th St., Troy New York Visit: Bespokibowl.com Over the years when I started my business, one thing that has always remained on my mind is to never stop thinking about how to delight customers. When you wake up, think about it, during the day, think about it, and at night, dream about it. There’s no substitute for hard work. People say there’s luck, but the harder you work the more results you get. As a business owner, you’ll encounter failures and difficulties but you must learn from them and move ahead. Don’t forget to think about your business and how to take it to the next level.

Being an entrepreneur can be a roller coaster ride. You will have great days, not-so-great days, and even awful days! But you must stay focused and keep your feet on the ground. Keep a clear mind about your strategy of why you are different and how you are adding value.

Value your relationships and never stop building relationships with customers and other people in the industry. Look at your competitors as potential partners and collaborators who can help positively impact your business.

Don’t give up, don’t take anything personally, and don’t take no for an answer. You never know what you’re going to learn along the way. The people who told me “no”, were eventually the people who told me “yes”, so don’t forget it.

The final piece of advice is to think honestly about who you are, what you want to achieve, and what mindset you need to have to get there.

If I could only give one piece of advice to entrepreneurs, it would be to TAKE THE RISK. When I first had the opportunity to start Bespoki Bowl, there were no Hawaiian poke restaurants in the entire Capital Region. Not knowing what the demand was or if people would even like my poke was extremely nerve wracking. But because of my fears and doubts, I did my research and worked on my business plan until I was confident and ready. The “risk” is what instilled a sense of responsibility I didn’t have before. Understand all the risks you’re taking and use it to motivate yourself to do what’s necessary to be successful. Whether you succeed or fail, you will know you did the absolute best you could do, and that’s because you dared to take a risk.

One of the biggest realistic fears most people have about owning a business is failing. More than 20% of businesses fail within the first year of owning a business and about 50% of small startups fail within the first five years of operating. While this fact may sound discouraging, these statistics should inspire you to overcome the risks by understanding why businesses fail to begin with. While you cannot eliminate all risks, having a strategy should phelp prepare you when they arise.