10 Different Ways to Grow Your Small Business
When it comes to ensuring the growth and development of a small or midsize business, the best way to keep the proverbial goose and golden eggs on your front is by executing certain efficacious strategies. So, whether you own a small business or just manage a department, here are ten effective strategies to ensure a long term business growth. Take a look.
1. Be goal oriented
The growth and development of any small business begins with focusing on the quality and targeted goals. A goal oriented strategy will also take you and your employees off the superfluous misalignment and goof-ups.
2. Ask your peers
Sharing and taking experience from other entrepreneurs on a regular basis will bestow you with untouched business knowledge. When you will be in a crucial business crisis, these experiences will later on take you off the ledge.
3. Take advantages of social networking tools and online media
To attract traffic and make others acquainted with your existence in the international market, make use of blogs, websites, twitter or facebook. Awash your digital market space with effective and attractive videos and blogs. This will eventually drive more companies to your business and will help you carve your niche among your target audience. Remember, promotion of your business and services is the key to success.
4. Hire effective employees
More than half of your business success is dependent on how effective your employees are. Don’t hire people that have an executive position in their former company; look for doers that could achieve targets within the provided deadlines.
5. Don’t sweat the small financial loss
Of course, any sort of financial setback harshly affects the morale of the business. But, rather lamenting your failures and losing your cool over your employees, examine what went wrong. Take a scrutinized look at your forecast sales and cash flow, and work accordingly.
6. Centralize on the long run
Instead of investing all your time and resource in the shorter purposes look into the bigger picture. You would not want to have something that only comes handy and meaningful in short run. That’s why, reassure yourself that your hard earned money is working for you and is continuously renewed in the process.
7. Plan a backup door
Look beyond the certain target audience. Business which particularly manufactures products in-house can pitch in with other smaller firms, if it allows you to gain a larger order. Don’t give a second thought if you are not making expected profit as long as your business is supported with a few good market opportunities.
8. Make long-term partnership with firms that could expand in near future
To avoid any under-delivered promises, you need to research for companies that can scale with your business potential. Find out which firm holds the possibility of making it big in near future, and try to establish a healthy relationship with its employees.
9. Don’t fall in the same stream
To get an edge over your competitors, you need to do something innovative and experimental. This will rev up your sales and eventually your business development.
10. Re-analyze your business
Once you have noticed that your plan is falling into the place, don’t just sit down and relax. Rather, run with the flow and find out the next emerging possibilities for your business. After all, achieving one success doesn’t define your business prospects.
With a small business comes limited resources; therefore, effectively planning your business strategies is the only best way to ensure the growth and financial stability of your firm. Just, keep these aforementioned points in mind to persuade your small business in the line of successful companies.
About the author: Diana Maria is a blogger by profession. She loves writing on technology. Beside this she is fond of autos. Recently an article on Motorola DEFY plus attracted her attention. These days she is busy in writing an article on chicken pox treatment.
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8 Qualities of a Successful Entrepreneur
When you think about the people in the world who are highly successful, making money beyond their wildest dreams, and hear their success stories, do you wonder what it was that brought them success? Were they just lucky, or superbly talented, or did they just have a product that was seriously needed in the marketplace?
What exactly are the qualities these people possess that brought them success? Does everyone have those qualities, or is it just reserved for the few millionaires and billionaires who seem to turn everything they touch to gold?
Well according to Loral Langemeler, a financial coach and strategist, and founder of Live Out Loud: “You may think that successful entrepreneurs are free-spirits who despise structure and are renegades who would rather work alone, only reluctantly hiring a team because there’s no other choice.”
This is not the case – and it’s not as difficult as it may seem – most claim it is the behaviors that successful entrepreneurs possess more than personality, or intentions.
Behaviors that have proven to be successful, time after time. After all, an entrepreneur is just a businessperson with a belief in him/herself, who takes risks, has a mission, and organizational skills beyond the norm.
Have a mission:
Successful business owners had a mission, they knew what they wanted to do, and had a very detailed business plan in which to accomplish this mission.
Work on strengths:
In starting a business know your strengths and weaknesses, and rather than try to work on those weaknesses, build your strengths and hire your weaknesses according to Langemeler. Hire the people who can compliment those weaknesses making the business venture stronger, because your strengths are emphasized and your not so strong points are covered.
Courage:
Know that this venture is not going to be a cakewalk – in other words, it is going to be great some days, and really tough other days, but the conviction in yourself and your business will carry you through. Be fearless and strong and don’t let the little details that are mounting and troublesome get you down.
Set Goals:
Detail (on paper) the vision you see for the business, and measure your progress. If you don’t see progress it is typical to want to give up, especially on the most difficult days, but when you see progress, it inspires you to keep going.
Be Resourceful:
Use others successful business to model your own, not exactly of course, but keeping on top of who is doing what, and what brings success will allow you to spend more time building customer bases, than trying to figure out everything on your own.
Learn how to seek advice and guidance when you feel overwhelmed. Ask others for help who are successful, and more times than not, you’ll be surprised at how willing they are to guide you.
Persistence:
Never give up on your dream or vision. Many times things go pretty rough, and some people will think it’s time to throw in the towel, but if you have a great business, and know that it deserves success – stick with it through thick and thin and think positive. Never think that failure is an option.
Form the managerial mindset:
Find your driving force and realize that even though you want to break away from that 9 to 5, and do things your way, you cannot do it alone – you’re going to need a team, and some help. You cannot have that strong do it yourself attitude if you want to succeed. Be the manager of your business!
Most failures of the self-employed entrepreneur is that they try to do everything themselves – and burn out. And remember the strengths and weaknesses section? These are vital to the business mindset.
Design a business that can run with or without you, and remember that getting help is not failure, but the next step to entrepreneurial success.
Build your personal skills:
Successful business owners are relaxed and secure relating to others and building relationships in the business world as well as with employees. The more extroverted they are the more approachable and likable they are and in turn leads to people wanting to do business with them.
These attributes lend a better working environment, as well as success with employees and their needs to communicate and interact. It creates a strong team and allows others to flex their positive muscles, and be more apt to interact with customers in a more friendly way.
Of course not all executives possess all of the characteristic that bring success, but the ones who don’t make up for their shortcomings in hard work. They lean on the people on their teams who do possess what it is they lack, and are competent, supportive and great leaders.
They are respected, admired and looked upon as an expert in their field of business, through plenty shoe leather, or credentials, and never doubt their abilities.
Although there are tons of books written about being a successful entrepreneur, the basics are listed here to get you started, but attending a seminar or buying a great book would be highly beneficial – and having a good product and a good dose of self-respect doesn’t hurt either!
About the Author: This article is from Will from Credit Card Finder. Discover some of Australia’s leading entrepreneurs at the Credit Card Finder Inspirational Australian Female Entreprenurs Awards.
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8 Businesses You Can Start Today With No Cash!
If you’ve been wanting to get into business for yourself, but money is holding you back then don’t fret! There are plenty of opportunities available to those who don’t have the start up cash in their pockets. While having a little money on hand for business cards or fliers certainly helps; here’s some businesses that scrape the bottom of the barrel to get you going.
1.) Lawn Care
People are lazy. They don’t want to mow their grass. I’m one of those people and I happily pay somebody else to come and cut my grass for me. If you’ve got a truck, and a mower you could already be on your way in this business. Print up some fliers, start offering to mow friends or family member’s lawns, and post an ad up on Craigslist. A small investment in a magnetic sign for the side of your truck doesn’t hurt either!
2.) Cleaning Service
Again, people like cleaning about as much as they like mowing the lawn. Starting a maid or cleaning service can also be a quick business to get going. Try going door to door to local businesses that are full of busy professionals in small offices. If they don’t have their own full time cleaning staff they may be interested. Again, Craigslist is a valuable tool for starting a local business fast.
3.) Junk Removal/Scrap
My friend’s Dad helped put her through college doing this. If you have a truck or ideally a trailer so you can haul more stuff you can make a pretty penny with scrap or junk removal. You can either charge people to come and get their stuff or just pick metal up for nothing and sell it to the junk yard. There’s plenty people who just drive around on trash day and pick up washers, dryers, and other big metal appliances and are literally picking up dollars off people’s driveway. The home owners are happy to have it gone because they would have otherwise had to make a special call to Waste Management which they may have to pay for themselves. Most people also don’t have enough scrap themselves to bother taking it to the junk yard. It’s a bulk sale type of business.
4.) Start An eBay Business
If you’d prefer to do something online you can start an eBay business. Ebay is generally a very quick way to get started selling online, because the traffic is already there. You can get started immediately by selling things you have laying around your house. This could be old electronics, clothing, ect. A lot of people buy things from yard sales or Craigslist locally and then sell them on eBay where the price is much higher. You could also think about finding dropship suppliers if you want a more reliable product sourcing method and want to upgrade your eBay business.
5.) Start A Consignment Business
Technically this also goes into the eBay business category, but not exclusively! Don’t have any of your own stuff to sell? Why not sell somebody else’s! A consignment business advertises an item for sale by a third party and then collects a commission. If you have a place with high visibility or you know how to move merchandise you could make some cash doing this. Several people in my town with property on busy roads sell cars off of their lots.
6.) Start A Internet Service Business
The internet is also full of busy people who don’t have time to do everything. Web masters are one of them! If you can do something useful like write articles you could turn that into a business as well. The thing about web masters is they usually have a lot of sites to run and don’t have time to write for them all consistently. If you’re a good writer they could be willing to pay in bulk for your writing services. Try signing up for sites like Fiverr or posting on webmaster discussion forums like Digital Point. Many of these places have a market place where you can sell services like this!
7.) Design Service
If you have any skills as a designer either through graphic arts or web site design you could start working for yourself. There’s probably a lot of small business owners in your area that would like a website or need a high quality logo created for them but don’t know how to get it done. Try marketing your business to local people. If you can meet any face to face at an event it would help you out a lot most likely. The only start up costs for this business are your time and a computer to work on.
8.) Pet Sitting Business
This one is incredibly easy, but can make you a surprising amount of money. I know several people that do this regularly. Most of the time they just go to the person’s house and baby sit their dogs for the weekend or while they are on vacation. If you love animals then this could be a great fit for you. Try advertising in the paper, offering this service to friends, and online. You could also try asking places where people with animals visit if you can put up fliers on their window or cork board. For example the vet, dog groomers, or the pet store. An additional business tactic? Offer the business owner a referral fee if any of their customers purchase your dog sitting service!
These are just a couple ideas, and I’m sure there’s plenty more you can come up with! Do you have any ideas for a great business you can start this weekend with little or no up front capital? Post it in the comments section!
Penny writes more about online business, finance, and investing on her personal finance blog. If you’d like to see more articles from her you can check out PennySeeds.com!
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Why Every Entrepreneur Needs a Blog
In this fast paced world, things are becoming more technical. We have entered the digital economy and most people nowadays are dealing with the largest network in this universe, the internet. Almost everybody, during week days, spend time in their offices in front of a computer, surfing and working through internet. During week ends, they are at their homes, still slumped in front of their laptops, desktops or tablets, spending their days off with what Facebook can offer them.
Gain Online Presence
At one point of your existence in the cyber world, you have ‘googled’ yourself (no need to deny it, I’ve done it myself). Google is probably the most checked site by everyone. It is fascinating that this site could know almost everything about anything.
If you want to be found by your target market, make yourself visible by putting up your website and market the products or services you offer. Make it more interesting by having a blog site as well. It is more convincing if the approach you use is on a first person basis, like talking directly to your niche. People greatly consider anecdotes and testimonials to support their decisions in acquiring your services or products.
Inform The Market
A blog site is meant to inform people. For example, you have this on-the-spot-promotion like some airlines do nowadays. You can easily do that kind of promotion to your blog site. Such announcements can be very viral that it can reach your whole market.
You can also use your blog to describe your products or services extensively. If some of the viewers would have comments or questions, you can respond to them immediately since you are the administrator of your own blog site. The Blog-Site is meant to inform both your market and you yourself as an entrepreneur. It’s a two way communication.
Co-relate With Other Entrepreneurs
One cannot grow without the help of other people. Competition is not always the case. Sometimes, an entrepreneur also needs new ideas or suggestions from some experts in the same field. Blog sites, being in a more personal approach, help entrepreneur bloggers to co-relate with each other. You can learn from them and vice-versa.
Having your own blog can help you gain more contacts, in connection, to your business or market niche. I believe everyone has the potential to be the next world renowned business tycoon. This only means that there are things that you know but others do not, sharing them through your blog will give you authority and people will look up to you for the great content that you share with them. Letting your business relationship grow helps you as a person and your being an entrepreneur. Your experiences can be a great deal of help to other upcoming entrepreneurs, or vice versa! Business people can benefit from having their own blog site. Not only they can inform their market about their products or services, but it can also offer relevant information to other businessmen who may need it.
One should not be satisfied with their current market reach. There are a lot or other mediums to reach out to potential clients, especially in the World Wide Web where people are online 24 hours a day, 7 days a week. Make entrepreneurship a more fulfilling experience by sharing your own experiences and ideas in your own blog site. Be an inspiration to many!
About the Author: Jessica Francisco is a cheerful 25-year-old with an odd sense of fun. The least of her broad range of hobbies include swimming, hiking and listening to the music of Michael Jackson. Jessica is also one of the editors of Luke Roxas.
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To Startup or Not To Startup? Five Things to Consider Before Launching Your Own Company
Why start your own business? After all, it may be one of the most masochistic decisions any individual can make.
To begin, startups come with financial risk, and impact of failure on one’s finances can be severe. Moreover, starting a new business is a sure-fire way to distance oneself from friends and family. Startups can be all-consuming, leaving little time for much else—including personal relationships. Finally, starting a business can take a heavy physical and emotional toll. Late nights and meals at one’s desk are not a healthy lifestyle, and the highs and lows of the startup game can drive a person mad.
Here is why I love being an entrepreneur. In short, starting a business is one of the most exciting, challenging, and rewarding ways to spend my working years. Yes, it can be hard and cruel, but six years into it, I haven’t experienced a single day of boredom.
Startups are not for everyone. Here is some advice if you are considering whether to get into the game:
(1) Get some experience first
Some recent academic literature has concluded that the ideal age for entrepreneurship is 40. This is no doubt because can help to have working experience before you start a business. For one, it provides an opportunity to save up some potential capital to invest. Moreover, you will inevitably pick up some useful skills and knowledge along the way—some of which could prove handy, even if your new business is in a field outside of your expertise. In addition, as you work, your network of contacts will grow. This can prove useful in a variety of ways, including client development, recruiting, the pursuit of capital, to name a few.
(2) Analyze your opportunity costs
If you have nothing to lose, it is easier to take the leap into entrepreneurship. If you are the sole breadwinner for a family of 5 with a limited nest egg, it probably makes sense to save up some cash first, and think very carefully about the impact that a bombed startup would have on your life. One other word of caution here in a different vein: Be aware of the risk of your opportunity cost rising too high. Although an increasing employee paycheck is generally a good thing, the higher your salary rises, the more difficult it can become to quit your job and scratch that entrepreneurial itch.
(3) Build a detailed financial model for the business and test your assumptions thoroughly
Once you begin reducing the business to a spreadsheet, the realities of the numbers will begin to emerge. Taking into account all of your expenses and revenues, as well as when they should occur, will give you a sense of whether the business can make money. It will also give you a sense of how much capital you will need and by when. While there are always financial surprises in the startup experience, waiting to build your projections until after you commit to a business is a dangerous proposition.
(4) Speak to potential clients
Treat your new venture as a sophisticated investor would treat a new potential investment and determine whether your idea can be monetized. Do some due diligence and explore whether there is interest in your product or service. Ask client prospects whether they like your value proposition. If you are entering a competitive industry, ask what it would take for clients to switch providers. Knowing what potential clients want and need is critically important to know if there is room in the marketplace for your business.
(5) Ask yourself whether you have the right DNA
Jumping head first into a startup is not for everyone. If you are the type who needs others to motivate you, or who has trouble staying focused when times get tough, starting a business is probably not be the right move. But if you have self discipline, a fair amount of confidence, passion, and a good deal of intestinal fortitude, you may well be the perfect fit for entrepreneurship.
Keep in mind that starting a business is not for everyone. But for those who have what it takes, becoming an entrepreneur may be the most fulfilling professional path.
About the Author: Paul Mandell is a Founder and the Chief Executive Officer of Consero. In this role, Mr. Mandell provides strategic leadership for the company with a rigid focus on excellence at every level of the business. Prior to founding Consero, Mr. Mandell founded and was the President of a national legal support company that was acquired in 2007. The successor entity was recognized as one of the world’s top legal process outsourcing companies during his continued tenure as President the following year. Prior to entering the business world, Mr. Mandell practiced law at Arnold & Porter LLP and Sullivan & Cromwell LLP in Washington, DC, and New York, New York, respectively, where he focused primarily on antitrust and pharmaceutical litigation. Prior to his law firm experience, Mr. Mandell clerked for the Honorable K. Michael Moore of the U.S. District Court for the Southern District of Florida.
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What an MBA Won’t Teach About Starting a Business
There is much discussion about how beneficial an MBA education is for entrepreneurs starting a business. The debate is about whether the skills required for success as an entrepreneur can be taught and whether the current MBA curriculum allows its graduates to succeed in today’s business landscape. Entrepreneurs must decide whether to invest in a top Online MBA as a prerequisite for starting a business, or rather instead to invest that money directly into a new business.
According to the article, “Seven Essential Qualities of a Successful Entrepreneur” published in the Wall Street Journal, having a vision and being passionate about pursuing that vision are believed to be key requirements for entrepreneurial success. Given that most entrepreneurs accept this driving force as a critical component for entrepreneurs, the question germane to the MBA debate is whether you can teach a student how to think in an innovative manner and to come up with a new idea that they are willing to pursue with an intense and ongoing commitment. Considering the enormous commitment and sacrifice that most new companies require, if an entrepreneur does not make a business dream a top priority in the beginning, it will be very difficult to stick with it when the big challenges arrive.
Education Cannot Teach Passion or Innovation
Considering the large number of highly successful entrepreneurs without formal MBA training, a persuasive argument can be made that entrepreneurs do not need an MBA to succeed when they have a good idea and are willing to pursue it against all odds. Some of the better-known entrepreneurs who are recognized as high-profile contributors to society without an MBA include Bill Gates, the billionaire co-founder of Microsoft. Steve Jobs, the co-founder of Apple computer is another entrepreneur that must be recognized as one of the most celebrated entrepreneurs without an advanced education. These visionaries created technologies that have directly impacted the lives of most people in technology-savvy cultures. The problem with MBAs is that its curriculum teaches students what’s worked for businesses in the past; it doesn’t teach them what being innovative and determined are.
People Skills
While many innovative entrepreneurs in the technology industry have not suffered from a lack of people skills, in many other industries this lack could prove a block to success. We’ve all heard the saying that it is not what you know, but whom you know that makes you successful. If this is true for most entrepreneurs, then it is easy to understand why so many people who are well liked do so well in business.
Networking is promoted as a plausible way to find business partners and key employees. An entrepreneur must be able to depend on talent and commitment to make up for a lack of other resources to compete. This is where leadership and charisma play a key role in recruiting the talent necessary for success.
Conclusion
The debate will continue about whether an entrepreneur needs an MBA to succeed as an entrepreneur. Some questions that any new entrepreneur must consider is whether they can commit for the long-term, and whether they can withstand the pressure to compete under duress. Some of the considerations to think about are financial demands and a support system. Entrepreneurs’ challenges are often not limited to business competition, but also include family concerns. Having a spouse or partner who is also committed to an entrepreneur’s dream can make a substantial difference in whether an entrepreneur succeeds.
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How to Run Your Small Business (Instead of Having Your Small Business Run You)
Owning your own business is like going on a new adventure every day, without knowing where it will take you, what dangers you’ll face along the way, or even whether you’ll make it out alive. That last part depends mostly on the business you’re in, but hey, it can certainly feel like your small business is going to kill you, or at least get the better of you on any given day.
A very close friend of mine, who happens to own his own apparel company, came to me recently, shaken, unshaven, and obviously stressed. He began telling me how he was missing meetings, losing track of time, neglecting personal relationships, and generally forming more bad habits than he could keep up with, on account of his business was taking over his life.
I definitely related to his situation, and then started thinking about ways to help him (and other small business owner like him, myself included).
Here’s what I came up with:
Know How (and When) to Say No
Small business owners should have four legs, we scramble so much. And while the world appreciates our hustle, we often agree very hastily to much more than we can actually take on, in the hopes that we can cut a better deal here, or get more funding there.
Much of this hustle is necessary, but much of it is not. Yes, it is important to make contacts, to pitch your product, and to get funding, but missing meetings because you have too much on your plate is much more damaging to your reputation than saying no ahead of time. If you are feeling like your business is running you instead of the other way around, than examine your current commitments to see which are essential, acknowledge to yourself that it is OK to say no, and then, in the future, say no to the things that aren’t.
Plan Every Second of Your Life
No, I’m not exaggerating. What kills many small business owners is ambiguity in their schedules. Don’t allow this to happen. Get a planner, a journal, a piece of notebook paper, or a napkin — whatever it takes — and write down exactly what you have to do that week, and when you will be doing it. Zero in as microscopically as possible, to the point that you include such details as “eating ham sandwich alone at 12:05,” or “meeting with (x) investor at Starbucks on 1234 Main at 1:39pm.” Specificity in activity and time count. Don’t leave any “wiggle room”; free time is time that is unaccounted for, unless, that is, you schedule it in. See how that works? You can’t feel guilty about free time if you knew you were taking it.
This should go without saying, but often we small business owners need to hear what goes without saying, so: DO NOT VARY FROM THE SCHEDULE. Once it is written, DO IT.
Take Free Time
This is extremely important. There’s a reason the normal work week is only Monday to Friday: Neither the human body nor the human mind were designed to work 24 hours a day, 365 days a year. With that in mind, plan some free time, and even some vacation time, into your week. You will be able to focus better, and will feel more in control of your life if you do things outside of running your business, and, best of all, you will be able to run your business better when you are refreshed and thinking clearly.
By the way, after I presented my friend with these strategies, he adopted them, and while I can’t vouch for his business, I can vouch for his health and happiness, and I can say that after following my advice for a few weeks, he looked like a million dollars, and felt like it, too. And you can’t run a business if you feel like anything less.
About the Author: This is a guest post by Eliza Morgan who is a full time blogger. She specializes in writing about business credit cards. You can reach her at: elizamorgan856 at gmail dot com.
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Is There Ever a Bad Time To Start a Business?
Do you dream about starting a business, but don’t know if it is the right time? Are you concerned that the economic recovery still has a long way to go, so now might not be the right moment? Are you letting fear stop you from following your dream of owning a business?
Starting a business is something that can be done, no matter the economic climate. You may have to adjust your plan, but if you are savvy enough, you can find the customers your new business needs.
You cannot wait for the perfect time, or you will always be making an excuse as to why now is not the right time. The fear will always be there, so embrace it instead of running from it. Harness your fear and direct it in a positive way to ensure you are making smart decisions and thinking before acting.
The Right Frame Of Mind
The one thing that you need to have before starting a new business is the right frame of mind – the right attitude. If you are not mentally in the game, then don’t even bother. Conceptualizing, forming, growing, and running, a business takes a lot of time and energy, and creates a lot of stress and uncertainty. If your head is not in the game, then your business is doomed to fail from the start.
A great mental attitude can trump your lack of business knowledge. You can always gain knowledge, or hire someone smarter than you, but without passion, you lack the drive to be able to have a successful business. Having the right mindset is something you need before becoming an entrepreneur. You have to believe in yourself, and you have to be willing to sacrifice a lot while you build your company.
The Right Idea
However, the right frame of mind will only get you so far. You also need to have a great concept for a business. This doesn’t mean that your idea for the perfect business has to be something that nobody has heard of before – it just needs to be unique.
While there are probably plenty of unique businesses that have yet to be thought of, you don’t have to be a pioneer in order to be a successful business owner. What you do need is to bring something original to the table. If you are going to compete with existing companies in the marketplace, you have to have your own unique selling point. What makes you different from the other guys? Why would consumers (or businesses) choose you over your competition?
Take The Bull By The Horns
You can analyze yourself to death and never take the first step to realizing your dream of being an entrepreneur. While it would be foolish to throw caution to the wind, quit your day job and devote all of your energy to starting a business, there is nothing to say that you can’t commit to moving forward as quickly as you can, under your current circumstances.
Figure out what type of business you want to start, and assuming it isn’t a totally unique concept that the world has never seen, figure out how your business is going to be able to set itself apart from the competition. Commit to yourself that you are going to actually become a business owner sometime in the foreseeable future.
Don’t procrastinate any longer thinking now isn’t the right time to move forward. You have the power to convince yourself the time is never right. You also have the power to take control and move past your fears. Working for yourself is like nothing else. Why would you want to delay this opportunity any longer?
About the Author: Marshall Davis runs Talking Small Biz, a website where small business owners and budding entrepreneurs can learn about products and services to help them become more successful. Read his blog and learn more about becoming a successful entrepreneur.
Photo Credit: milos milosevic
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5 Reasons Being Your Own Boss Makes You A Better Person
We are a culture that celebrates leadership. We glamorize generals who lead men into battle, and admire the entrepreneurs that built Silicon Valley. There is no question that being the one in command has its appeal as well as its perks.
On the other hand, people in leadership positions also have to make tough decisions, and at times are not looked upon fondly by the masses. In the corporate world the boss is a pejorative term, the very word associated with a draconian taskmaster who will flog an employee for every second they are late returning from break.
So the question is, does being the boss make you a better or worse person? Does the anchor of responsibility make you more mature or more of a jerk? The following are 5 reasons why being your own boss ultimately makes you a better person.
1. Leadership
As your own boss you are responsible for the direction and hierarchy your business assumes, including everything from the marketing strategy to the delegation of duties. You will have to make tough decisions and have the conviction to exercise them.
2. Expanding Your Creativity
As a company drone you are nothing more than a tool, following the orders given to you. The brain goes on auto-pilot the second you clock in. As your own boss, you must think creatively to expand your business and stay ahead of the competition. You must fight ways to be more efficient and
3. Dealing With Pressure
Owning your own business means dealing with the pressure of success and failure. A salaried employee whose income is not tied to the bottom line has little incentive to care. At times it may not feel as if it makes a difference if he or she shows up at all. As the proprietor, however, your livelihood depends on the growth of your business. Exposing yourself to the crucible of business makes you more equipped to handle the pressures of everyday life.
4. Learning to Motivate
In addition to learning how to handle pressure, making your business thrive also represents a challenge. Regardless of whether it’s sports, education, or business, setting a lofty goal and attaining it provides a valuable experience and helps you grow as a human being. Furthermore, as your own boss, not only do you learn how to succeed, you learn how to stay on top. Finding ways to stay ambitious and motivated are key components in keeping your business growing. Finding the energy to keep customers and employees motivated will help you grow to become a more pleasant and affable person.
5. Empathy
Being your own boss means you are responsible for the satisfaction and safety of both your customers and your employees. You must handle disputes amicably and foster strong relationships with your client base. As an employee, the courtesies you extend to customers are perfunctory, a rote phrase spoken to appease a manager with no authentic enthusiasm. For a boss, however, these customers are the arteries of their business, and learning what they think is critical to improving the product or service they provide. Being a boss makes you a better listener, a more gregarious person, and teaches you the empathy required to be an effective manager of people.
In the end, the qualities that make a good boss are the same traits we admire in all human beings. As your own boss, you will find that as your business grows, so does your character.
About the Author: This article was written by Joan Evans of PublicLiabilityInsurance.org, Joans writes on a wide range of business topics including employers liability insurance.
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