What to Expect When Owning a Business
Asked by Ruth- Entrepreneur
"Becoming the owner of your business is a blessing but can present a challenge. What sound counsel would you offer to the person that set out on the journey of maintaining their own business"?
Steve's answer: "Owning your own business is a mindset shift as much as anything. Recognize that in the beginning, you will be responsible for everything. The only way you get paid is to generate your own income. Disciplines you might not have depended on in the past, will be critical to your early survival: organization, decision making, money management, priority setting, planning are some of the more important. You must be totally committed to the business idea or model you plan to build. Building a successful business is rarely is short term endeavor.
You must be willing to risk your security, accept and rebound from failure and be tenacious enough to withstand lots of 'NO'! If you stay focused and stick with the basics, after about 18 months, you should be in a position to start looking for help in areas like book keeping, taxes, leagal matters, etc.
What you must always be focused on, and involved in is marketing- acquiring clients and generating revenue. Without these, you will struggle to survive.
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Steve Smith applies his extensive business background to every client challenge. Bring him your toughest challenges and receive solutions you can work with.