Happy National Small Business Week! Since 1963, the President of the United States uses this week to recognize the economic contributions of small businesses. One in two Americans either own or work for a small business, and these businesses are responsible for 60-80% of the new jobs in the country.
But owning a small businesses isn’t easy. There are pressures from being solely responsible for the success of the business and maneuvering the tenuous work-life balance. As a small business owner you are the product manager, marketer, sales team, finance department, production manager, customer service, and CEO. With all this responsibility and workload, some might think that working for someone else might be easier. But the small business owner has a dream, a vision, a passion, and a purpose. She has the desire to make the world a better place through a unique product or service while creating the home-life she desires for her and her family.
There are many ups and downs in business ownership. To ride these waves remember to be constantly evolving and constantly joyful.
I would love to share with you the one stop shop, ultimate solution for your business success, unfortunately it does not exist. The best I can offer is a system to keep your business growing through constant evolution.
Business planning is the foundation for your success. However, business planning should be viewed as an ever-evolving moving target not a document to create once and store on one’s shelf like a prized trophy. The marketplace is constantly changing. There are new competitors, new technology, new user needs. What you once offered may no longer be viable in its current configuration. Think of the heyday of Blockbuster video and what happened once technology introduced On Demand and convenience introduced Netflix and Red Box. It is important to roll with the ever changing flow of commerce or you will be left behind.
One way to stay ahead of the curve is to have quarterly or bi-annual plan reviews. This way you can be sure to stay abreast of the changing marketing place so you can act accordingly. The second way is to constantly review the programs you have put in place. Be sure that you are monitoring the results of your sales, marketing, and product/service plans. What worked yesterday, may not be working today. Adapting to the ever-changing marketplace is a key to success.
To help you during the low times of your business, remember your joy. Remember that you went into business for yourself to have the freedom and joy in your life that you desire. When work is no longer fun, ask yourself why not? What has changed to make the business challenging? What are you making more difficult than you have to? When situations get you down, step back and remember why you started. Then shift your mindset or your objectives so that fun enters back into the picture.
This week celebrate National Small Business Week by looking back at all you have accomplished and reset your eyes on your goals for tomorrow.