Small Business Minute #30- Want To Get Better? Work At It!

Small Business Minute #30

I regularly tell business owners that you don’t have to be an expert in every area of your business, but you have to good enough at everything until you can afford to hire someone who is better than you in a specific discipline.

This is pretty simple advice but it can be challenging for the entrepreneur because they don’t know where to begin. As humans, we tend to gravitate towards the things we like or good at and avoid those things we don’t understand.

Chances are you got good at something because you spent time doing it and eventually became proficient at it. Same applies to learning anything new, you must work at it. Of course, learning anything new can be tedious, but the more information we consume on the subject, the easier it becomes, and before you know it you start to become confident in your newly acquired skill set. Continue reading

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Small Business Minute #29- We All Need Two Mentors

Small Business Minute #29A wonderful piece of advice we can all use is that we should all have two mentors. One that is older that can share the wisdom that comes with age and can helps us avoid the many pitfalls that they’ve experienced.

The second and younger mentor, and by younger I mean at least one generation behind us and not just a few years our senior. This mentor or group of mentors will be the ones that keep you in tune with the new trends and applications that are changing as quick as the seasons. Continue reading

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Small Business Minute #28- Worry Without Action=Stress

Small Business Minute #28Being the creator of our future is part of the allure to being an entrepreneur, however one of the costs of doing so is the increased stress we experience while chasing our dreams.

The thing with stress is that although we all experience it, how we deal with it can be far different. Some even look upon it as a badge of honor and fool themselves into thinking that stress is a great motivator and therefore they’re making progress, when in fact they could be more effective if they could just reduce their stress.

Funny enough, one of the easiest ways to do that is to get things done. You see, stress is not a result of having too much to do, but of never finishing anything. As entrepreneurs we always seem to have far more priorities or ideas that we want to implement than we have time. Continue reading

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Small Business Minute #27- Fear of Decisions

Small Business Minute #27As entrepreneurs, we are faced with a daily buffet of decisions we must make. Some days the sheer quantity can overwhelm and dishearten an individual. Granted many decisions are simple and require little or no effort, however they all aren’t and this can really cripple an individual if they’re afraid to make a mistake

The saying “I’ve learned more from my failures than my successes” is one often expressed by many successful entrepreneurs. They learned early on that failure is a big part of being successful. What you learn and how you apply that lesson, is the true test of your ability to survive the entrepreneurial journey. Continue reading

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Small Business Minute # 26 – The 80/20 Rules For Sales

Small Business Minute #26

 

Wilfredo Pareto discovered the 80/20 rule when he wanted to determine who owned all the lands in Italy in the 18th century. He found out that 80% of the lands holdings were owned by just 20% of the families. As he continued his research he soon discovered that many things fit that profile.

So how do we apply the rule to sales? Well as entrepreneurs we seem to manage to bog ourselves down doing all sorts of non-productive activities. Sure we justify them as necessary activities but in many cases we’re just doing busy work that could easily be delegated or maybe not even done at all.

Because sales are such a critical element of our businesses, it is the #1 item that owners ask for help or guidance when I advise them. Continue reading

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Small Business Minute # 25 Teaching Moments

Teaching Moments, Small BusinessLet’s face it, employees will screw up. But how we manage the situation can have greater importance and do more damage to your business than the actual mistake.

It has been my experience that most mistakes occur because the information or directions issued were not clear or detailed enough yet as managers we assumed they understood.

In many situations, we’re so busy or stressed that we’ve issued just enough instructions to get the item delegated without considering whether they have ever done the task before or are clear about the end result. The employee on the other hand may not want to look foolish, or frustrate you any more by asking questions all in an effort help you out. Continue reading

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