The Top Four Valuable Lessons Small Business Should Master

Every year there is a list of the top lessons small businesses should remember. Here are the top four valuable lessons small businesses should remember no matter what.

Valuable Lessons #1

Surround yourself with an excellent team. As a small business owner and or entrepreneur, you will come to learn a good team is priceless. You cannot do everything yourself, especially if you want to grow your business and talent is the most necessary collateral to a company’s growth. Vet them to make sure you are hiring for skill and the fact they are dedicated to building your company and not just their pockets. As a CEO, you’ll come to learn you’ll never have to ask a person who loves their job to do it, and they’ll treat the company as if it were their own while being a team player. These two traits are priceless to you, the team, and the building of the company.

Valuable Lessons #2

Never forget what inspired you to start your company you’ll need it when facing times of failure. When stuff hits the fans, you may begin to question yourself. It is times like that you need to remember WHY you started the business. If you can still find a reason to continue thru that answer, then you’ll find the strength to continue. We all lose our way from time to time, but this key point will also help you place perspective on tuff times. Remember, nothing good comes easy. 

Valuable Lessons #3

Learn from customers’ feedback. It’s the best advice you’ll ever receive for free. Small business owners and or entrepreneurs look for guidance, mentors, or advice from time to time. I’ve found over the years customer feedback is the best advice you will receive for free, whether it’s solicited or not. Pay attention, take notes, and process without an ego to utilize the best free resource to stay relevant in the marketplace. It may hurt to hear what’s being said but understand and see where and why the information was shared. You’ll come to gain more when you adopt the well-suited advice. Leave your personal feelings at the door and see it for what it is and where or when possible, make changes accordingly.

Valuable Lessons #4

Learn to take time off. I understand you started by running 24/7/365, but that will catch up to you faster than you think in more ways than one. Doing 24/7/365 has a toll on you, family, friends, staff, and the business. Don’t be a victim of your success. Learn how to separate work and home and, more importantly, disconnecting from work when you are home. This is the simplest way to achieve that work-life balance. You’ll come to value this practice the longer you are in business.

 

About the Author

Jacquéline Edwards is a Business Manager with over twenty years of experience for Business Pipeline, Inc, a business management firm designed to assist business owners with bookkeeping and business management needs.