3 Things Every Small Business Owner Should Be Doing

Would you like your business to succeed? Want to know the common traits of successful small business owners? Want to reduce the chance of failing?

I thought you might and today I want to share with you three things I firmly believe every small business owner should be doing.

You see while your business is unique…there are key common ingredients to success. Looking back over the course of history there are common things that determine the level of success you will achieve.

Social media, the internet, computers haven’t changed these common ingredients for success. They still ring true now as they have ever done.

But what are they? What are these ‘secret’ ingredients to success?

Well, they’re less secrets than key points that are commonly known but rarely put to full effect. When they are…success often follows.

I am no secret holder or anything. I haven’t discovered these ingredients. I have learned them from others over the past 7 years.

In books, seminars, webinars, videos, Instagram posts, courses, coaching these key ingredients come up time and time again.

If you’re ready to learn these ingredients here are the my top three ingredients for predicting small business success…

#1 Working On Your Business NOT In It

Whatever business you run there are times when you’re stuck below deck making your business work.

The problem is that if you don’t stick your head above deck, every now and again, chances are you’re going to lose direction and go off course.

It’s crucial that as the business owner you make time to work on your business.

Whatever happens to the business day to day it’s critical you’re not pulled back below deck to sort things out at the cost of navigating to where you want to get to.

This might mean blocking out half a day per week, ideally more, the key is that you have dedicated time to work on your business.

To look at your strategy, adjust your plan, look at look at what lies ahead, see what needs fixing and all those key things that matter to the long term future of your business.

Make time to work on your business rather than it.

If this means that little problems occur in your business because you’re not on hand to sort them out, then so be it.

The cost of a couple of little issues every now and again is nothing compared to navigating the long term future of your business by chance.

#2 Building An Audience

The second thing every small business owner should focus on is building a community.

This community could take various forms.

It could be a Facebook Group. A forum. A loyal social following on the latest social platform. An email list. A networking group. A loyal group of customers who love your product.

The key is that your business is focused on building and nurturing a community.

Why? Within this community will lie all the market research and customers you ever need.

If effectively nurtured this community will become your biggest asset in your business.

Start to explore what amazing community you can build for your business. Take your time and don’t rush into it. The most common mistake is to jump in too quick without having thought it through.

Have a think about your business, what community could you build? What community would help your business? Take time to think it through then commit to making this community like no other.

#3 Continuous Personal Development

The third key area to focus on is personal development.

That’s right, developing you.

As the owner, entrepreneur, leader, mastermind, CEO or founder you must ensure that you look after yourself, ensure you grow and explore your full potential.

The level of success you experience in business will be directly related to the level of personal development you commit to.

Rather than ask other people what to focus on or see what you come across you…you need to be more intentional with your personal development.

This requires a plan…a personal development plan.

What do you need to learn to achieve your goals in the next 6 months? What area have you been struggling with? Which aspects of your business are struggling due to a lack of knowledge?

Take time to look inwards and brainstorm what aspects you want to work on. This is a plan for you and what you want to achieve.

Draft out this plan out what you need to learn and focus on. Then explore ways to solve those learning needs. This might be a book, course, coaching, daily habits etc the solution is up to you.

As you plan more and more include estimated time and costs into the plan so that you can again ensure you have the resources to complete the learning.

Base your plan on what you need to change or improve upon in order to progress on your life and business plans.

This will ensure rather than taking ‘the best training ever on topic XYZ’ which you don’t implement as it’s not relevant to you right now…you only focus on personal development that matters most to you.

There Are No Quick Wins

If you’re looking for quick wins the above won’t help you.

But if your someone who knows success isn’t made overnight and you’re willing to put the hard yards in these ideas can transform your business.

Take each area and start to explore how you can apply it in your business.

Take time to think and plan these areas through for the long run.

You might see others getting ‘quick wins’ but know that you’re playing to be there winning at the end.

Paul

Post by Paul Bassi

Founder of Your Virtual Mentors.

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