Small Business Tips
While owning and operating a small business can involve long hours, long days and numerous responsibilities and tasks to perform, there are a few helpful tips to increase your bottom line. And at the same time, help avoid the “burnout” syndrome so easily obtained by small business owners.
Small business owners obviously wear many hats, and almost need to “become all things to all people,” but we are no different than any other professional – the need for balance and success is an everyday process of figuring out the best options to achieve this goal.
It’s also good to remember or remind yourself, (If you’re like me, you’ll put at least 3 alerts on your mobile phone so you don’t forget!)…
- Small business hours are generally NOT 9 to 5. Yeah, it’s good to “try” to stick to that, but if you’re going to reach out to help customers as they need you, you may want to throw that theology out the window!
- Some say separate family and business. While that may work for some, personally we found if you have a healthy relationship with your spouse and family – get them involved! As also relationship coaches, we found that the more you separate your business and family, the more distance you will feel and make them feel. So, let it be a team effort, even if the most your spouse or children can do it be your biggest cheering section, at least you’ll be doing it “together.”
It’s been said that “time management” is the “ability to structure your life and keep tasks and information in order,” according to The Young Entrepreneur’s Guide to Starting and Running a Small Business by Steve Mariotti)
We advocate and encourage that your time allotted to your business does not exceed a “majority” of time and attention outside of your home and family. If not, while your business may grow and succeed, your family will fail. After all, research has shown that the divorce rate for struggling small businesses that end up failing is 5 times higher. So, whether you’re on your way up or down, do everything you can as a family and home unit. Remember, they were there for you before you succeeded, and you will need them in an epic way if you don’t succeed.
A few more helpful tips:
- Try to plan out your day – before the day!
- Try to priority what will take you longer and what is most important.
- Try to delegate any tasks that will lessen the burden or alleviate the clutter in the amount of tasks.
Praise and Correction
If you must give correction, remember the saying, “Praise in public, correct in private.”
Whether your employees or your family that’s offered to help, remember not to publicly ridicule, humiliate or embarrass them, especially in front of other clients, customers or business people.
Doing so will quench any desire or passion they may have to invest in not only you, but in the success of the business.
Mike, Trisha & Arianna Fox, Owners