Shrink to greatness is a phrase I’ve often had to use when working with clients. To be honest, it’s rarely received well by those I’ve had to tell because everything we read about how to be successful in business says you must grow. So, this contrarian approach can be a little challenging for the recipient to accept as it goes against everything they’ve been led to believe.
What if, you had the chance of starting over? What if you could reboot your business? What would you do differently? Theses are questions that I regularly ask small business owners, especially when I come across those that are struggling, stressed out and unhappy.
The answers I get range from, “I’d hire better people” to “I would not have tried to grow so fast”.
Burnout is one of the leading causes of small business failures. The thing about burnout is that it usually gets justified as just hard work. Of course, entrepreneur knows that being self employed is going to require sacrifices and therefore, burning the candle at both ends is the price of admission to a better life. To that I say, yes and no.… Read More
Small business owners are faced with a myriad of challenges every single day. If it isn’t sales, then it’s receivables and if it isn’t receivables, it’s operations. Add to this the hundreds of thoughts they are juggling trying to sustain their enterprises. Always at the top of their worry list is how to keep their staff focused and motivated.
Unlike much larger corporations, small business owners usually don’t have the financial resources to implement sophisticated incentive programs.… Read More
In its heyday, the Kodak company used the following tagline in their advertising: “Make it a Kodak Moment!” This phrase was used when taking a picture of someone at a particular moment that will never be forgotten. It even made its way into everyday use to highlight anything good or embarrassing that happened to an individual, even when it wasn’t captured on film.… Read More
Many entrepreneurs’ struggles can be traced to their inability to bring focus to their business. It is said that if you try to be great at everything, you’ll end up being good at nothing. I like to use the example of sunlight to explain the power of focus.
The Power of Focus
Most day our world is full of sunlight and even on the hottest of days there’s little risk of it setting anything on fire.… Read More
Entrepreneurship is currently all the rage. It’s the Pot of Gold at the end of the rainbow. It’s the magic elixir that will fix everyone’s problems and so many people are spending hours daydreaming about the life they will enjoy once they get into business.
Unfortunately for the uninitiated, going into business is very hard work and for the most part the reality of being in business doesn’t come anywhere near your dreams.… Read More
At one time or another, many owners are faced with a business that has stalled out, and often it’s a simple matter of a sluggish economy and with a little patience things recover and growth resumes.
Look under the hood
For others though, their business has just plateaued and are at a loss as to how to regain their rhythm and push through to next level.… Read More
Going into business is easy, running a business is hard and until we get in it we don’t realize how very hard it is. Oh sure we talk a good game by telling people that we know it will be difficult but that the hard work will pay off in the long run. The reality is, we haven’t got the foggiest idea of what lays ahead.… Read More
Validating your idea, is one of the best pieces of advice I can give start-ups as well as existing business owners. This one item should be at the top of your to do list if you’re considering starting a new business or thinking of adding a new product or service to your existing operation.
You may think it’s a great idea and all your friends and family nod their heads in agreement, but frankly they don’t matter.… Read More