THINGS EVERY BUSINESS OWNER SHOULD THINK ABOUT

Of the many general business ownership principles, the most fundamental go beyond recognizable core philosophic management tenants to the very heart of the business owner. The first principle of business success is understanding what it takes to succeed in a business. The few top questions you should ask yourself as an entrepreneur may surprise you. Hint: They’re more about how you’re thinking about your business, its future, and your future than about the actions you need to do each day in managing your business.

quite an understatement to say there are lots of moving parts in business ownership. So, naturally, most entrepreneurs still have a lot left to learn...

What don’t you know about what you need to do to achieve your version of success in your business? What more do you need to learn in order to do everything you need to do to accomplish your goals? What else should I obtain through school or self-education to be as prepared as I need to be for leadership success? What don’t I know about my industry, management, financing, contracting, strategic planning, my target market, the competition, supply chains, etc.? These are all bedrock questions for aspiring entrepreneurs. It’s quite an understatement to say there are lots of moving parts in business ownership. So, naturally, most entrepreneurs still have a lot left to learn through the early years (and the latter ones too). To get up and stay up to speed, do the basics:

Ask questions and listen carefully to people, any people — friends, family, employees, peers, experts, and anyone else who offers information or an idea.

Read books, magazines, and reports on everything from the history of your industry, advanced sales, generating capital, employer branding, IT for scaling, etc., etc. Especially, digest stories of small business growth and struggles toward success. Watch Ted Talks, YouTube videos on business risk-taking, financial planning, technology, etc.

Joining an industry peer group can offer amazing benefits of knowledge and support. Also, join your city’s continued on page 26 toward your ultimate business success starts with determining the size of your dream.

Chamber of Commerce, local organizations for business owners, civic committees, etc. Meet with your local SBA agent to learn about financial, educational, and networking resources in your area. Ask your customers what they like about your services and what they suggest for further improvement.

Each business owner has his or her particular vision of success for his or her own company and personal life. It’s a matter of individual perspective on what a good life is. The proverbial first step of the thousand-mile journey

Throughout the United States and the world, there are millions of successful small business owners enjoying their lives during and after achieving their kind of success. Their dream may have been for a lively little mom-and-pop store with steady Main Street foot traffic. Or, they may have been driven to make their product or service regional, national, or global.