Category - Entrepreneur

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1
Starting Your Own Business? Here’s What To Do First
2
How To Deal With A Giant Competitor
3
7 Key Skills of Business Leadership
4
4 Small Changes To Reinvigorate Yourself As A Small Business Owner
5
Business Systems For Success

Starting Your Own Business? Here’s What To Do First

Are you thinking of starting your own business?

Exciting times! Let me congratulate you on deciding to take your future into your own hands!

It is an exciting – and also a little frightening – experience as you work out what to do and where you want to go and how to start. What’s the first thing to do?

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How To Deal With A Giant Competitor

Do you feel the fear trickling down your spine when you hear “Amazon”?

Does your business have a similar industry giant coming to town and you’re wondering how it’s going to affect your business?

These big boys really can shift tectonic plates in the marketing world, but you shouldn’t panic – you should get ready.

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7 Key Skills of Business Leadership

Let’s get down to brass tacks – as a small business owner, you are not a “manager” who organises work. You have to be a business leader, who inspires, sets agendas, and creates opportunities.

What you need to successfully grow a business today are leadership skills. You probably started your business as a subject-matter expert with those specialist skills that made you produce your product or services.

But as your business grew, and you took on employees, the role of the small business owner has to shift from “do-er” to “leader,” from specialist subject-matter expert to generalist, and from problem solver to agenda setter. You need to create strategies that find opportunities, and the transition is not easy for people who became specialists and subject-matter experts by working for someone else.

So, what are the key skills you need to be a business leader?

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4 Small Changes To Reinvigorate Yourself As A Small Business Owner

Out of the top 5 areas that cause stress, the top two are in the areas of “Jobs and the Workplace” and “Financial Problems.”

So as a small business owner, guess which areas you spend most of your life in? In your business, in your workplace, and often wrestling with some kind of financial problem!

Small business owners work hard, often long unrewarded hours. They deal with everybody’s problems, starting from their staff to those of their customer, and including the impact of their business on their family. There is no one else to turn to because the buck in your business stops with you. It is no wonder that over stretches of time, small business owners feel jaded and feel in need of a lift. You may be tired and jaded at a time when your business most needs new ideas or a strategic direction, but a tired sleep-deprived mind isn’t able to be creative and innovative. The worse thing is, unless you have been working on your business the way I have described in this blog, you probably can’t afford to take time off for a holiday to refresh yourself – or at least you think so.

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Business Systems For Success

Every business, no matter how small, can only improve with the addition of clear, documented systems.

You may already have some systems in your business – perhaps how to file documents, or what paperwork to fill in, or how to use the computer system. Yet most small businesses grow their systems informally as they themselves grow and unfortunately many such systems are verbally passed on, remain in the mind of the founder, or variations are made by people as time passes.

What this or even worse, no systems end up as is a mess.

Whether you have or don’t have systems does this sound familiar?

  • Someone leaves and you have to spend a lot of time training a replacement
  • Employees do their jobs, but there’s always a holdup somewhere that has to wait for you to tell them what to do
  • Outcomes of work processes are unpredictable or inconsistent, depending on who is working on it
  • You can’t really leave your business for a vacation without being tied to email

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