Tuesday, May 14, 2024

The Bottom Line for Business Owners

 


 


       

          When you are first starting out in business your thoughts of living the dream can quickly turn to “Help, how am I going to survive!” You most likely are working alone and doing everything yourself while worried if you will ever make a profit.

       Being a business owner can be very daunting and exhausting and can prove to be very lonely and isolating. Like the saying goes, ‘It’s lonely at the top.” Finding others who are walking in your shoes and finding those who have made it to the other side will be an important part of your success.

        It is important for you to connect with like-minded businesswomen or men in your community. Support, friendships and mentorships will be a major gain and can launch your success. 


1.      Find Several Role Models

a)      Identify several role models in the groups you are a part of. Get to know them, watch how they handle their business and situations, ask questions about how they do things.

2.      Get Organized

a)      You can waste a lot of time when you are not organized. Cut down on your frustration levels and start operating effectively and efficiently.

3.      Take the Steps

a)      The first must if you are a business owner is to be BRAVE! Jump in, get started, go for that goal! You do not have to be perfect, nor does everything have to be perfect before you begin! Fear is not an option in business! Now Go!

4.      Ask for HELP!

a)      It is important to get more people involved in what you are doing! Do not be afraid to ask for help. Allow yourself to get freed up to home in on your mission and steer the boat ahead!

5.      Build a community!

a)      This is so important for your business and for your sanity! Join network groups, go to business mixers, look for online business leader communities, use social media to connect with likeminded folks.

6.      Own Your Success!

a)    I am giving you permission to do this! As women we tend to hide our accomplishments. I remember when I owned my first business, I was embarrassed and felt guilty about how much money I was bringing in. A good friend gave me permission to own my success! Keep great records of your accomplishments so you can’t easily dismiss them!

7.      Be Flexible.

a)    Being a business owner will teach you how to be flexible! And it will teach you that lesson very quickly! If you cannot be flexible, you will sink. You cannot have everything set in stone; you must be able to pivot on a moment’s notice. Ideas will need to change, parts of your business plan will need to be re-written, you might even have to re-do a bit of the mission if you want to survive. One business I worked for was afraid to do anything different from when it had started 60+ years earlier. They were afraid they would fail at trying something new, like keeping up with the times. Because of their inflexibility, they lost the business.

8.      Learn to Let Go

a)      Whatever picture you have in your head about how glorious it will be to own your own business, let it go. It is hard work. You must roll up your sleeves, get dirty, strap it to your body and soul like a girdle and go after it. Learn how to multitask, delegate, organize, prioritize, and execute!

THE BOTTOM LINE: Build relationships with like-minded business owners and learn from them. Do not reinvent the wheel if you do not have to! Listen and learn from other’s mistakes and successes. There is no need to walk down the lane of shameful failures because you decided to go it alone and learn the hard way.

 

Debra Lee, Author & Keynote Speaker, Biz & Life Coach

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