A business built around your core passion is more likely to succeed than something that seems sexy or lucrative. It’s vital that your business is profitable that the numbers are up. But at the end of the day, be sure you’re happy managing and growing your business. Here are some other success strategies that will keep you on the right path:
Delegate Whenever Possible
The first step is finding out what cannot be done by anyone else. Next, delegate away. Be willing to do it all, but make the choice to do what you alone can do. You’ll come to realize that there are others who can do these jobs better than you can. This will free you up to think big picture and grow your company. Do what you do best, and let the others do the rest.
Focus. Focus. Focus.
Carpe Diem seems to be the motto for every fledgling business. Many newbie entrepreneurs want to jump at every opportunity and seize all the days. Truth is, many opportunities are plain ol’ distractions. Don’t spread yourself or your resources too thin. Be willing to adapt, yes. But if you constantly find yourself side tracked, that may say something about your original concept.
Look to Hire Foreign Help
The HB1 Visa makes it possible to hire extraordinary applicants in web development, software, and marketing—from oversees. This visa is being used by Google, Twitter, and many small- and medium-sized businesses. There are requirements that must be heeded, however. So be sure to do your due diligence when considering hiring from abroad. For example, this post on failing your interview during the immigration process is a good read on the matter.
The 30-Second Rule
Nope, this one’s not a stretch of the “3 second rule.” Also known as the elevator speech, always be ready to pitch your business. If it takes longer than 30 seconds, “Ain’t nobody got time for that.” Be enthusiastic and real. Make your mission clear and concise. It may take practice, but less is always more.
You can’t actually know everything. But here’s a 3-step process for knowing a whole lot:
- Know what you know.
- Know what you don’t know.
- Get to know someone who knows what you don’t know.
Surround yourself with mentors and knowledgeable individuals. Learn from these people and never stop learning.
Don’t Forget Your Start Up Days
Remember back when you were just starting out? How you pinched every penny and triple-checked every expense? Your company’s cash flow is its life blood. Forget the posh office spaces, shiny cars, and luxury amenities. Practice frugality, and keep expenses down. A lower overhead will give you a peace of mind that can’t be replaced by any fat expense account.
This is not license for fool-hardy, impulsive acts. And procrastination is different from intentional delay. Procrastination breeds guilt. Guilt bleeds your energy and can even lead to depression. Know where you’re headed, and do not put off even the more gritty jobs. Learn to do hard things. If you’re feeling stuck, remember, you don’t have to get it perfect. You do have to keep moving forward.
Say “YES” to Free Social Media
Before you rush out and blow the big bucks on advertising, take full advantage of social media. Blog habitually, tweet with humor, and make friends galore on Facebook. You’ll be amazed at how quickly and easily your brand can build a following without spending a dime on advertising.
Know When to Close Up Shop
You’ll be surprised at how many captains want to “go down with the ship.” Give your small business everything you’ve got. Then, know when it’s time to call it quits. When to keep the company small, when to be okay with a takeover, when to start over.