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Archive for the ‘Small Business’ Category

What is the difference between success and failure?

Saturday, January 20th, 2007

I get asked this question a lot and it is not an easy one to answer. Sure we can all look at a bank account balance but if that is the only indicator to measure an entrepreneurs success it would be a sad world indeed. Personally I believe that anyone who is brave enough to step out of their comfort zone and enter the challenging world of being self employed should already be classified as a significant success because there is no doubt that running your own business is tough. However, I have noticed that most financially successful entrepreneurs share common personality characteristics and an over riding desire to be good at what they do. I cover these characteristics throughout ‘The Secrets to Building A Winning Business’. Often this is what drives people to be entrepreneurs in the first place – they are good at what they do and they know it and they would rather make money for themselves than someone else.

But if I had to pick one defining characteristic that separates success and failure it would have to be passion. Those entrepreneurs who are passionate about their businesses will not accept half measures – they sincerely want to be the best at what they do. They are passionate regarding their products and services, their customers and their staff. This passion enables them to embrace change and face the everyday challenges that all business owners face head on. Sure they encounter set backs but they don’t get caught up in the negatives, preferring instead to move forward, learning from their mistakes and refining the way they do things. They are passionate enough to share their triumphs and tragedies in a philosophical way and they will help other people to succeed wherever they can.

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The more successful you become the more distractions that will appear!

Friday, January 12th, 2007

This is a fact, as your business grows and you become more successful, more distractions will begin to appear around every corner. This is a dangerous time for any business and any easily distracted entrepreneur.

It is easy to argue that these distractions are wonderful opportunities coming your way and I am sure that many of them are, but keeping a focus on your core business is essential. If you lose sight of this, by the time you regain your focus it may be too late.

I have witnessed this many times with growing businesses. The focus shifts from the business to the new opportunities and before long the main business starts to suffer. It is all about finding the balance between being open to new and exciting opportunities and still keeping an eye on your main business.

The hard part with this is that distractions are often more interesting and exciting. They often appeal to our egos. The wonderful thing about distractions and opportunities is that they are not limited – if you miss one today, another one will come along tomorrow. Accepting this takes some of the urgency out of responding to every one that comes your way.

WHAT CAN YOU DO TODAY? When the next opportunity or distraction heads your way, stop and think how is it affecting what you do? While contemplating this new possibility are there other parts of your business that you are neglecting? Being aware is half way to solving the potential problem – the other half is having the discipline to say no.

Hug a Small Business Owner Today!

Tuesday, January 9th, 2007

There was a time that small business owners were considered pillars of society. They were respected, they were looked to for leadership in times of crisis and they were the backbones of most economies.

In more recent times the significance of the small business owner and the role they play has been lost in our community. They have been overshadowed by the larger, more vocal and more media focused corporations. But not out of any malicious act, rather small business has simply lost its voice and identity.

How can customers know when they are buying from a small business? Unless they know the owner, its hard to tell but most people are really keen to try and support small business wherever they can – it is the Australian way.

As a community we need to encourage people to start small businesses. We need to support them, buy their products and services and help them to grow and expand. They employ many people, they spend their money here in our community and they grow as a proactive part of our world.

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I want small business to reclaim its voice. To stand up and be counted. I want small business owners to be acknowledged for what they do and what they achieve. I want small business to regain some of the pride and standing that it used to have in the community.

This starts with small steps and works itself into a crescendo. Put out a sign saying “Proudly small business”. If you own a small business be proud to tell people what you do. Encourage other small business owners to shout out loud about what they do and make a point of telling your customers that they are supporting a small business.

Lets work together to restore some of the pride and vitality that small business used to have. So hug a Small Business owner today!