Owning your own business can be highly profitable and rewarding or it can bankrupt you and make your life very stressful.
- Are you achieving a sensible work life balance?
- Is your business giving you everything you wanted when you first started out?
If the answer is no or even if there is a gnawing sense of dissatisfaction, ask yourself – Why is that?
It is likely you are spending too much time working in your business and too little time working on your business. Even if you do, you may be trying to reinvent the wheel when many of the solutions you require already exist.
It is also possible you start improvements and they quickly fall by the wayside simply because as the boss you are not held accountable for your results – except in the longer term you end up paying in lost profits and lost time.
Where should I start on small business development?
To me, the best place to start is with you the business owner. A small business is nearly always a good reflection of its owners.
Many owners believe in the following system:
- Desire something
- Set a goal to achieve it
- Plan a course
- Take appropriate action
- Gather accurate feedback
- Adjust point 3, 4 and 5 in line with feedback.
- Continue until the goal is achieved.
This is a great system and it definitely works but there is something missing. The thing that is intrinsic to the whole process is the person driving it. – YOU the business owner.
Who am I being?
If you are being too arrogant or pig headed, you refuse to accept feedback, you drive your team, suppliers or customers to frustration or implement any of the points badly due to how you think and therefore act at a fundamental level – will that not significantly reduce the chances of you being effective and achieving the goal?
My best advice is to take a twin approach to it. Work on your own personal development and your small business development at the same time. Both are a continuing journey with the business being highly dependent on the former.
Success does not come to you – You must go to it
Sure, you could build a very successful small business with no personal development work at all. So why bother? My questions to you are:
- Will you and the people you encounter along the way enjoy the process?
- Will your employees and family enjoy the process?
- Will you love the time you spend at work in the business so it seems more like play than work?
- When you eventually exit the business, will you look back and think “Yes, that was a great use of some of my limited time on the planet?
You may not think the questions above are important but nearly everybody wants to be happy in their lives and live with a sense of fulfilment. So even if you don’t believe they are that important to you right now – Wouldn’t it be great if you could achieve them as well as a highly profitable and successful business?
There is always a choice you have to make in everything you do – In the end the choices you make make you
A talented coach and a supportive mastermind group can really help you change your business and your life and will easily pay for themselves in little time but only a few people will benefit.
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