Running a successful business isn’t a piece of cake.
But, by keeping a few simple things in mind you can really nail it and make it successful.
1. Nail those numbers
Now before you say ‘I’m not good at maths’ or ‘I hate numbers’, just bear in mind that you don’t need to be a whizz at maths but as a business owner you do need to know your numbers.
I promise you, it will make things so much easier.
I’m not a numbers person at heart, but working in the corporate world in Finance for 14 years has been very valuable to me running my business.
I can easily set up financial targets, budgets to track and I do love a spread sheet with colour coded cells. It doesn’t have to be complicated. It doesn’t have to even be a spreadsheet. You can choose whatever form suits you, as long as you know certain numbers:
a) how much income / sales / turnover you want to make this year
b) your expenses
c) your profit = a – b
Once you know these, write them down and track them.
It can be really simple and it doesn’t mean you have to do all the paperwork side of it – your accountant can handle that (and should), but know those numbers and run your business with them in mind.
By writing down your financial targets and constantly tracking them, you will most likely reach them.
2. Get a support group
If you are a small business owner running a business from home, you can feel really isolated. You no longer have work-colleagues to discuss ideas with. Exchanging ideas and sharing challenges and wins with other people like you is really important. It can be online or offline. I do both. I do like the actual connection of meeting up with someone, but at the same time love the global world we live in and to be able to connect with other business owners around the world.
So do some research, find out what groups are out there and if need be create your own!
You can’t do everything. And if you do want your business to grow, you are going to have to let go of everything that doesn’t actually need ‘you’ in it. It will free up time for you to focus on what does actually need ‘you’.
I’ve done it and wouldn’t have it any other way now.
4. Invest in yourself
You need to keep learning new ways of doing things in your industry and keep up to date with that, as well as working on how you can make progress and develop yourself. Your business won’t grow properly if you aren’t growing with it.
You are running a business, so you do have to sell, even if you think you hate selling.
Without sales, you don’t have a business, you have an expensive hobby. Which is fine if that is what you want.
I hope you have enjoyed these.
Let me know in the comments below which ones you are nailing and which ones are still a struggle.