Great Small Business Owners Know How to Take From Their Business
It’s about sacrifice right?
Being a small business owner is about working harder, longer and smarter than everyone else, right?
And then, if you do that, over and over and over. . . then the payoff!
But what if it doesn’t work that way?
What if the payoff only comes if you take it first?
Hard work is critical to building a business. If you’re not willing to give that maximum effort, don’t even start. But if you want to be able to build a business you can sell someday, a business that’s desirable to a potential buyer, you must be ready to take something from the business. And you can’t afford to wait.
You must be willing to protect the business’ only irreplaceable asset: you.
It’s good for the business when you take from it.
It’s good for the business when you take care of yourself.
Your business is never going to volunteer to give back to you. In fact, it’s going to get more and more demanding of your time, money and energy as it grows. It will take all you give and still demand more.
At some point, if you’re serious about surviving as a business owner, if you’re interested in seeing some tangible pay-back for your investment, you need to stop, and say “It’s my turn.”
When looking at the players in any industry, there are usually a handful of businesses that stand out ahead of the pack. So what exactly goes into making some more successful than others? More often than not, it comes down to the kind of leadership they have steering their efforts. Being a strong small business owner is an elusive enterprise, there is no one secret recipe to achieve. If there was a sure-fire way to be a dynamite small business leader, it would undoubtedly include the following 7 components:
The Forbes article titled 7 Habits of Great Small Business Owners goes on to describe 7 elements key to “being great” — and you might be surprised that the first two elements listed have to do with you, the owner, taking care of you.
1. They take care of themselves
2. They have lives outside their business
3. They look forward
4. They are organized
5. They nurture relationships
6. They make decisions
7. They cut the fat
Give to the business.
Grow the business.
But you must not be afraid to gain from the business.
If you are afraid, or unable, to provide yourself a payoff, don’t expect a buyer to do it for you.
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