Running a small business can be tasking to run and a bit overwhelming also especially if you are new into business. This is due to the uncertainty that may arise along the way due to your newness in the business.
You may also feel the pressure of making decisions sometimes and you are not just sure if its the right one or if you are doing things right or not.
If you are in such category, don’t quit the business or doubt yourself you can get all you need here.
Hi everyone my name is Timileyin and in this post i will be discussing with you about the 5 things to avoid while running your small business.
Take your time as you go through this process.
The first thing to avoid is to
Going to partnership sounds really cool, but as a small business it is more preferable to be careful when making that decision to go into partnership.
This is due to a lot of reasons, your business may necessarily not need being in a partnership for it to survive, maybe it needs a little bit of something else so be very very sure of that decision before resulting into a partnership.
Do not get caught up in this, just because someone is your best friend /significant other/relation doesn’t mean you should go into a partnership with the person.
If indeed you need to go into a partnership with someone, then the person should have set of skills that complements yours which means that you can cover more grounds without having to have more employees.
The second thing to do is to
Entrepreneurship or owning a business especially when its small is a lot difficult to run and in most cases one may lose hope and then just quit.
This can be caused by frustration from either lack of adequate capital or profit isn’t flowing in, but if you have a compelling picture about the future of your business (vision), then you will understand that those challenges were there to make you strong and if you can just pull through you will be glad you did.
Also be aware that running a business is a long and most times rough journey, therefore you have got to stick to it and find means of coming out of that challenge. Dont be a quitter !!!!!!.
The third thing to do is to
This is important to every business owner but especially to those who are about giving up on their business.
Everyone who is now a business magnate has been through that hurdle before, maybe even more than you and challenges that are worse than yours.
Irrespective of those challenges they still persevered but one of the things they did was to constantly remind themselves of why they started the business in the first place.
Doing that alone can set a lot of positive change into motion in which the emotions of the person involved will be so full and re-energized.
The fourth thing to do is to
When trying to start a business, bear in mind that you will need a couple of guys to assist you on a couple if things.
A wise man once said, he said ” sometimes the best thing to do is to ask for help” . Asking for help could mean employing a set if individuals to help you on a task or reaching out to that friend who is good at a skill that could be useful for you and so on.
Do not claim to know everything therefore you can do everything, well doing so will consume your time, money ,health and so on.
I know a man who started a company with about $500 and decided to do everything on his own without the help of anyone else, he then realised that he was doing more than he initially thought he would do and it costed him a lot more than he expeected.
The next time he started another business, he didn’t repeat it again lol, he gave out half of the task and it worked for him.
The fifth thing to do is to
Change is an inevitable aspect of your business, if you do not constantly and reasonably evolve or change some things in your business, situations and market conditions will force that change on you.
This is why its imperative to know when to evolve and upgrade in somethings in your business as seen fit to.
When running a business especially a small one, there are several threats to your survival but it also could be channeled into an advantage for you to also evolve to still function a viable business but when compared to a business that has been functioning for ages, that business will find it a lot difficult change.
The best way to remain relevant and maintain growth is to keep your eyes open for changing tides and your mind opened for new ideas about how to further better your business.
Read, practice and share