Follow the Green Lights – Small Business Success is a Mixture of Strategy and Intuition
Work is life and life is work for small business owners. The lines are blurred between work and everything else — family, friends, faith and self. It is not always easy to balance the demands of business ownership and living a powerful purpose driven life. To have the best of both we have to rely on our resources, our experience, our talents, skills, and take advantage of all our opportunities. Yes, it’s that simple. To succeed as a small business, simply engage a few basic strategies and follow the ‘green lights’.
Of the approximately 543,000 new small businesses that start each month, only 50% will survive 5 or more years. Small business ownership is a life and a lifestyle that the owner chooses. It offers everything they want in a career, and it is an opportunity to create income and security for today and tomorrow. So, why do they fail? The most common reason is the owner does not have the business knowledge and experience they need to run the business. They know what they have to offer but not how to do so fast enough, efficiently enough, or as profitably as is necessary to maintain a healthy business. As the business struggles, so does the owner. Personal satisfaction is almost always tied to business success for the brave individual that risks it all to have the work life they want most.
So, what does it take? It can be challenging, but any business owner can deploy the strategic and practical aspects of small business ownership. Simply:[wcm_restrict]
- Know what you want from small business ownership. Be clear on what benefits you hope to gain: flexibility, control, money, feed your passion. Be clear on what role you want it to play in your life and your schedule.
- Take time to plan. Winging it does not work.
- Align the plan with your life dreams, values, and priorities.
- Be accountable to the plan. Be committed to the dates, deadlines, and actions.
- Do what you do best… always. Delegate or outsource the rest.
Additionally, there are some secrets to success that have more to do with your internal message center than knowledge, experience, or training. They are those soft and sometimes transparent skills of intuition, attitude, perspective, and acceptance. Practice these:
Accept that success takes time. It is rare for a business to be profitable in the first year. Reaching revenue, profit, business development, personal income and other goals typically takes 3-5 years. Having a safety net and back-up plan are critical. Prepare today to survive the long term.
Boundaries are critical to a balance between work and life. You are the only person that can set boundaries for the way you work and the way you live. You need boundaries for work and all other areas of life, boundaries with employees, and boundaries on personal and business money and investments.
It is not easy to relinquish control, but it is critical to know when you need help and ask for it. Be willing to ask for help and accept it – personally and professionally. Your ability to hire staff, delegate and outsource can help you reach your professional and your personal goals much quicker.
Surround yourself with the right people and resources – in work and in life. Every business owner has a need for resources and support. Select them carefully. The right team can help build your business, develop professionally, and inspire you to create more than you ever dreamed possible.
Have the right attitude. Attitude is free and powerful. Focus on creating and maintaining – optimism, mindfulness, respect for self, and respect for others. When you make the positive choice, your outcome is higher productivity, better business results, and a more joyful life.
Trust your Inner Voice. Your inner voice will keep you out of danger and help you to avoid pain. It will help you sort out the differences between work and life.
Finally, it is critical that you take advantage of your opportunities. We will call these the ‘green lights’. When you are clear on what you want the answers will often just ‘show up’. Learn to recognize them as opportunities and move in that direction. Take advantage of all those situations have to offer.[/wcm_restrict][wcm_nonmember]
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About the Author
Small business consultant and expert Sherry B. Jordan has spent the past 15 years working to develop ways to help small business owners move from making a choice to own a small business to living a lifestyle they love while making a living. Her new book, Plan It! Do It! Love It!: Be Outrageously Successful in the Small Business Lifestyle