In early 2008 I predicted that we would look back years from now on 2009-2010 and see that it was the best time in our country's history to start-up a small business. Of course, that remains to be seen -- and many will question my mental stability -- but, you can still think of me fondly decades from now when you realize you and I were right.
Scores of people are being pushed off the sinking ships of corporate America. Throngs of others are choosing to leap off grabbing severance packages as they plunge into the choppy waters of small business. Meanwhile, millions of current small biz owners (the Small Business Administration tells us that 81% of all businesses have less than 100 employees, while 52% are home-based) are holding their breath and hoping THEIR business is minimally affected.
So, what can we do other than simply hoping? Can we do anything to control the rudder of our success? Absolutely! Here are a few ...
Re-visit and refine your gameplan, if you have one ...
"It's hard to change a tire at 100 miles-per-hour" ~ Unknown
Now is the time to determine if you're going in the right direction. Sure, your current strategy seemed the best thing to do at the time, but times are always changing. The big question is "Is it the BEST thing for my business at this moment?". Or, perhaps it's the only thing you know so it MUST be the best one .... right?
Here are a few thought-provokers:
- Is there something you'd do differently if you were starting out fresh?
- What is the biggest opportunity in your market? What need is arising that wasn't there a year ago?
- What are bigger businesses beginning to outsource? What problem can you solve for them or need fulfill?
- Is there a new audience now for your product or service? What will it take for you to pursue it?
As T. Boone Pickens says, "A fool with a plan can outsmart a genius with no plan any day". Imagine what you could do with your smarts and a roadmap ...
Learn to recognize your ideal customer.
So many times ... we (as entrpreneurs) simply cast our nets far too broadly in the market place. We quickly begin looking like everyone else because we're afraid to alienate ANY living, breathing POTENTIAL customer.
Ah, here within lies the myth. Everyone is not our potential customer. The truth is that the majority of our prospects are actually suspects. A suspect is someone who may hear about you. A prospect is one that truly has a need that you can uniquely fill and is an authentic reflection of you and your business. In other words, you are made for each other.
Think on these:
- What are the specific characteristics of those you find ideal to work with?
- With whom do you do your best work?
- Just like the filter on your sink at home, what are your filters you use to separate your ideal clients from the contaminants?
- What is the marketing message(s) you use to attract the business you desire?
- What kinds of suspects should not be your customer?
When you are fully and authentically expressing your values and mission, you will naturally attract those with whom your business is designed to best work -- while pushing away those who are not. Prune your vine. Refine your message. Magnetize your business!
Prepare your mind for action ...
In challenging business times, even moderate movement forward in the right direction can make you appear as if you're at light speed when your competitors are "caught in the headlights". One of the keys to succeed as a small biz owner is that you must be willing to take prudent risks and act!
Victor Kiam offered that "Procrastination is opportunity's assassin". Don't ruin good with perfect. My motto has always been that if I can't decide between two or three seemingly equal options, the most difficult one is likely the right one. Absolutely, you need to be a prudent risk-taker. The problem is, far too many of you are highlighting the merits of thinking (or hoping?) and not enough doing.
A few years ago, I read a survey of highly successful CEOs targeting their keys to success. When asked the question "Looking back, what one thing would you have done differently in your career?", the predominant answer was "Exactly what I ended up doing, but much sooner". Sometimes, action is the only preventative for failure.
Where are you not acting today where you could ... or should?
What can you do to build enough confidence to get out of your "Ready ... Ready ... Ready" mode? What don't you know? Who or what could help you with that?
Every human mind is a great slumbering power until awakened by a keen desire and a definite resolution to do.
~ Edgar F. Roberts
Be encouraged!
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