3 Must Have Business Tips For New Small Business Owners

According to the Small Business Administration only 2/3 of all small business start-ups survive the first two years and less than half make it to four years. With those kind of statistics it would behoove a small business owner to ensure they are using their available resources to the fullest. In this article you will learn 3 solid business tips you can quickly and easily implement in your business to help avoid failure and becoming successful.

Having the Right Perspective

When running a business, in order to survive and be successful, it is essential to have the correct mind-set. Not possessing the correct mind-set is one of the reasons why many businesses that start off on the right foot come to a screeching halt or completely crumble when they run into unforeseen problems. And like anything else in life you will most definitely encounter problems and obstacles in your business. There is simply no way to avoid this. However, keeping an open mind and remaining flexible in your plans will help give you the perspective needed to over come most all these dilemmas.

The successful business owner usually posses an optimistic perspective and chooses to see the glass half full as opposed to half empty, or to use another popular cliche “make lemonade from lemons.” So instead of seeing a problem in ever opportunity like many other business owners they see an opportunity in the problem and approach it from this perspective. With this kind of open minded thinking they often over come the problem and sometimes go on to discover success and rewards they might never had realized if they hadn’t looked at the problem from a different perspective.

Know Your Strengths

Being a small business owner often requires wearing many hats, thus requiring different knowledge and skills sets. And let’s face it most of us do not posses all the knowledge and/or skill sets required to successfully run every aspect of a business. So it is important that you acknowledge your strengths and weaknesses in these different areas as soon as possible.

Start by focusing on your strengths and apply them to keep growing your business, while finding alternative ways to deal with your weaker areas. One such alternative would be to outsource these areas to different individuals on a job-by-job basis or perhaps hire a full time assistant who has the skill sets and knowledge required to fulfill all of your weak areas. Another approach that could help solve this dilemma is to create a network.

Networking

As a small business owner it pays to create a network of like minded business people, friends, and associates. Joining your local Better Business Bureau is a great way to network and meet other business owners in your area. Another good source to develop a network are forums on the Internet. Many business owners go this route and end up creating or joining a mastermind group that consist of other like minded people who posse different levels of business knowledge and skill sets.

Not only does networking provide support, feedback, and potential business opportunities. But it can sometimes be turned into a barter type scenario where different members provide their service expertize for free or at discount in exchange for the receiving member’s service expertize. Thus creating a win, win situation for both members.

I hope you take the time to implement and take advantage of the above 3 tips. Because by maintaining the proper perspective, acknowledging your strengths and weakness, and networking you will have a much better chance of success to over come the many hurdles you will face as a new small business owner.

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