I can't believe how much information is thrown at small businesses. All the information is intended to be helpful but it becomes too much and difficult for anyone to make decisions. From social media strategies, financial resources, investor pitch competitions and government programs it all becomes a huge opportunity that requires analysis to determine what is right for your business. In the end, how to do you know what to do?
I am a small business owner and as a small business consultant I have been following relevant entities that support small businesses. My Facebook feed is full of trainings, software and other items that claim to drive customers and crack-the-code of limitations. What good is this if you don't have a solid business launched yet? So how does someone get their a solid business launched? One step-at-a-time. I recently joined a Facebook group of women small business owners. It was a fantastic group, but a bit too large for my comfort. What I loved about the group is women were showing their websites and/or sharing their business vision and were getting feedback. Not just "looks good" or "needs improvement", but tangible feedback with changes to make it better. I also saw many other small businesses offering to help them. This is the type of small business community that will help entrepreneurs be successful. This may be a bit off our topic for today's topic, but I have to challenge small businesses to shop at small businesses. I recently heard a small business ordering printing from an online company instead of ordering from their local print shop. Lets shop local even when we see we can save a few bucks online. Back to the topic, here are the three must-have's every small business owner needs. The rest will organically fall into place as you build your business with your expertise and vision. PROFESSIONAL EXPERTISE You will not operate your business successfully without an accountant, an attorney and insurance companies. The landscape is changing and you must make sure that you have the professional expertise to navigate your finances, legal matters and insurance. The accountant will help you with payroll, taxes, budget, accounts payable, accounts receivable and other financial matters. Your attorney will help you with establishing your business, contracts and/or other legal matters your business encounters. You may need one or more insurance companies that will handle your business liability insurance, cyber insurance, medical insurance and other voluntary benefit insurances. Make sure you shop around and are comfortable with the professionals and/companies you will be working with. When you encounter a situation you will want someone that makes you feel safe, heard and supported. MARKETING EXPERTISE It is hard for me, even as a small business owner with marketing expertise, to see how much time we spend in marketing when we could be working on our business. I understand starting out the budget is limited but as you obtain traction invest in marketing expertise. Another way to talk about marketing is your brand. Being able to have a cohesive online and print messaging will build loyalty to your products and/or services. What do I do? I am still doing my own online marketing, but I use my locally owned Minuteman Press for all promo and print materials (double-sided business cards, pens, notebooks, clothing and more). BUSINESS PEER COMMUNITY In a previous article I talked about the importance of community. This community can be a chamber, a mastermind group, a local entrepreneur group or one that you put together for your own needs. What this community will do is allow you to talk and have others understand what you are saying. Most people who are employees don't ever understand what the decisions and/or challenges their employer faces. You will also bring your expertise to be able to support other small businesses. You are not lonely at the top. Thanks for reading, I hope you got something out of this and I would love to hear your thoughts. Have a great weekend. My weekly chamber connections had us break up in small groups and discuss the advice we were given in our current career. I was with an electrician working for his dad's company and an IT guru who owns an IT company. They shared work hard and don't stop learning. Great advice!
Whenever I am asked the advice I was given, I always remember a mentor of mine said "It is lonely at the top.". I had no idea what this meant until I found myself as the owner of a pregnancy retail shop and spa. From launching, growing and implementing the vision many days I remembered my mentor's words of loneliness. I did have a lot resources and so many people who wanted to be a partner with their own business to my business, but not an active partner in leading my business. When I had to make the difficult decision to either close or sell the business, it was a tough decision because I had two fantastic young employees who would be displaced with this change. I was so grateful that I found someone who was interested in buying the business and rebranding it to a new city. I supported my employees in their next season and I am so proud of both of them in their success of owning their own businesses. So this week has been a reflection of making sure that it isn't lonely at the top for my new consulting business. More importantly that I know how my consulting business can be the active partner that brings value to small businesses and nonprofits. Here are three opportunities of community to make sure that it isn't lonely at the top for you:
As you close out this week and prepare for next week, I challenge you next week to connect your business with community that wants your business to succeed. Your advice won't be "It is lonely at the top.". Thank you for reading. Please share how you make connections in your business next week. I have empathy for the demands of the small business and nonprofit leadership however I hear in my day-to-day life from so many employees that they wished their employer offered benefits. I do live in a world of small businesses and nonprofits, so I am mostly hearing from employees of these type of organizations.
What is keeping small businesses and nonprofits from offering voluntary health benefits to their employees? Here is what I have been hearing as I am out working in the field. I don't always get a chance to meet with the leaders to go deeper to understand their point-of-view, but from what I have heard I am sharing in the first Weekly Reflection by Faith newsletter. Why small businesses and nonprofits have said they aren't offering benefits.* "Lack of financial resources to contribute." - Yes, this make sense when you see the high cost of healthcare and you think that employees want you to contribute to it, it is easy to brush this off. What if your employees just want to have the opportunity to have financial protection for their paycheck, an accident, a disease or death. "No time to implement." - Yes, we understand this also when we know the demands of small business and nonprofit leaders. What if you knew there was benefits company that would not only provide the voluntary benefits, but also provide benefit counselors and the infrastructure to implement with systems you are already using. Why would you say "no"? "I asked the employees if they wanted voluntary health benefits that they will pay for and they said "no"." Yes, that makes sense especially if they didn't have all the details of what the benefits were and the rates. Get the facts including rates and invite a representative to explain the products to your employees so they can make a good decision. Quality employees are an asset to your business. Small businesses and nonprofits can be competitive with benefits to retain and recruit quality employees. We look forward to hearing your feedback. 3 Reasons why Training Matters in |
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