Hello SOTGC community,
When you’re starting to plan your own business, it’s easy to get caught up in the big picture. Images of fame and fortune due to your business endeavor float in your mind before your brand even has a name. While goals are certainly necessary in planning, it’s important to take each step one at a time to ensure your business’s success.
Keep in mind that running a small business is more like a marathon than a sprint. Oftentimes we want to control every aspect of our businesses and find it hard to delegate, but the people you hire to be a part of your business were hired for a reason and you need to trust them to get their work done too. If your employees aren’t finishing their tasks in a timely manner then let them know. You shouldn’t take it upon yourself to do everything or that could lead to burnout and fatigue- two things that could be catastrophic for your business. Take every day as it comes and every assignment one at a time. Making a to do list is a great way to map out what is most critical to finish first to last. Set the pace early to stay refreshed.
Another pro tip to get to the finish line to small business victory is to read up on entrepreneurs that came before you. Find inspiration in companies with whom you identify your brand with or would most like to be like. All of these businesses had to start somewhere too and reading up on their lessons and milestones can be a learning experience for any burgeoning president. Read interviews with your entrepreneurial heroes and even reach out to them for guidance and mentorship. Attending conferences such as the Small Business Expo or Women’s Business Conference can provide even more insight into the do’s and don’ts of starting your own business.
Don’t forget to do a hard analysis regularly- especially when things are going well. When everything is running smoothly, it is the perfect time to run a SWOT Analysis (strengths, weaknesses, opportunities, and threats) to pinpoint where the weaknesses are and focus on fixing them. See where your business has grown and where it still needs to improve. This will help you construct your goals for the next analysis you do! Not only should you be looking at your own business’s data but also that of your competition. Comparing yourself to others is a great way to achieve more successes if you are looking at what the competition is doing and what is different with their branding approach.
Starting your own business is a journey that should take its time. There’s no need to rush the adventure. Remember why you wanted to start a business and where you picture it in the future as you perform daily tasks. Like Simon Sinek said, “the big picture doesn’t just come from distance; it also comes from time”