You’re a small business owner – an entrepreneur, someone who envisions what they want and makes it happen. You are not just out there on Instagram sharing inspirational quotes and adding #hustle to posts. You’re actually doing it all while pulling off NYC living in style!
But hitting the break-even point might not be as simple as you might think. You will need to tick many boxes to build a holistic business for yourself and all those who work with you. Moreover, there is much to do if you want to ensure that your business is designed for longevity and success. So, protect the work you put in and use these tips to help you centre yourself and your business in 2019.
Get Your Finances in Order
Whether your company makes millions or significantly less than that, you must, must, must have sound financial hygiene. There are plenty of online applications that can help you with your money, but unless you’re a finance wiz, it’s probably best to have a professional do that work. A bookkeeper is essential for a biz of any size. They make life so much easier as do specialized financial experts, like a mortgage broker, for more complicated deals.
Write a Mission Statement
Sure, this is something that nonprofits have to do, so why would you need a mission statement? A few sentences or paragraphs that express how you feel about the company, the philosophy behind it, and what you want the business to be are invaluable. When writing this, feel free to get conceptual. Your passion for on the page will spill over to every aspect of your business. Use this mission statement when interviewing or onboarding to make sure that your employees are aligned with your goals.
Build a Team
The most important part of your business after the passion you have for what you do is your team. It is critical that you make sure everyone you hire is 100% on board to achieve the goals of your mission and is an excellent cultural fit. When interviewing, emphasize this and don’t worry if a person you like doesn’t have exactly the experience you’re looking for. If they have the drive and motivation to help the company succeed, that’s all you need. You can teach anyone a skill, but you can’t teach them passion.
Invest in the Right Technology
In order to ensure that your team offers you adequate levels of productivity and efficiency, you need to make sure that they have the tools to work with. This, of course, varies based on the industry you operate in, but a few common requirements for seamless business function see the likes of a strong bandwidth connection, quality hardware, and cloud back up run by AI with a recover guarantee. Apart from that, you will need to ensure that you invest in the equipment that makes work processes simpler, more efficient, and safer.
Pat Yourself on the Back
Finally, don’t forget to celebrate your big wins over the year. Pop that bottle of champagne, take the trip you’ve always wanted, or just talk about how proud you are of yourself and your company – you’ve earned it.
Starting and running a small business can be challenging, but with the right application of strategies, it can be a rewarding experience. Be patient and precise in your approach, taking the time to plan and execute your ideas effectively. By consistently offering value to your target audience, you can establish yourself as an industry leader and build long-lasting relationships with your employees, customers and partners.
