Why Small Business Matters

My heart swells with national pride when I think of the impact American Small Businesses make on all of our lives, our communities, and our economy. Where else in the world could we ‘the people’… just your average Joe… dream up an idea and venture out to make it a reality with almost limitless possibility and potential? As a result, they create jobs, bring necessary services, commerce, and prosperity to our communities. It’s a beautiful thing. 

The Presidential Proclamation for National Small Business Week 2019 “honor[s] America’s entrepreneurs who take a risk on an idea, invest in their neighborhoods, and create jobs for others. Small business owners exemplify the American spirit by developing new ways to provide goods and services to consumers. As a Nation, we reaffirm our commitment to the free market so that American small businesses continue to thrive.

America’s 30 million small businesses are central to our economy and our communities. Their courageous innovation make our cities and towns vibrant places to live, work, and raise families. Small businesses employ almost 59 million workers, more than one-third of our country’s labor force. These companies foster environments that reward problem solving and accountability, enabling workers to develop skills and valuable hands-on experience that propel their careers.“ (Source: https://www.whitehouse.gov/presidential-actions/national-small-business-week-2019/)

I have dedicated my entire career to building successful small businesses and helping other entrepreneurs do the same. It is truly my passion. It is where I do my best work. The creative and flexible space that American Small Businesses operate within is totally unique in the world. The depth of potential and breadth of creativity inspires greatness in me, and I do everything in my power to pass along that inspiration (as well as a lifetime of expertise) to everyone that seeks it in order to do my part to support our communities and our economy.

Some people are firefighters, police, military, nurses, teachers… I am an entrepreneur. My contribution matters. Not only to me and my family, but to our community and the whole of our economy. I am proud to be an American Small Business owner!

Join me in the sBs Community on Facebook where you will find support and resources you need to grow and succeed in your Small Business. We will help you make the impact you dream of.

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#ineedhelp #sbsgrowthcoaching #businesscoaching #businessconsulting #startups #smallbusiness #smallbusinessmatters

How to Kill Your Small Business or Startup

Here are just some of the fastest ways to kill your small business or startup:

- Building something no one wants or that you can’t sell at a profit 

- Inadequate business planning 

- Lack of clarity or focus

- Hiring poorly

- Failure to ask for help

- Ignoring social media

- Lack of appropriate financial accounting and internal control practices

- Spending too much money and/or being underfunded

Unless killing your dreams is actually your goal… you must be asking “How can I avoid these things??”… read on 

1) Are you trying to sell something people don’t need or aren’t willing to pay (enough) for?

Before you ever start a business... the first thing you have to do is extensive early market research and testing. If, in your product or service's earliest stages, you aren't seeing conclusive proof that people want what you intend to offer, and at a price point you can profit at, it's best to keep working on it before investing in a full launch.

2) How comprehensive and complete is your business plan?

Ever heard the saying... ‘a failure to plan is a plan to fail’? When it comes to a comprehensive business plan... this is absolutely true. Many new entrepreneurs fail to appreciate the need to engage in a thorough business plan process. They ‘fly by the seat of their pants’ and in a lot of cases... have no idea what they don’t know. Until... they find themselves in a bind later down the line. Planning ahead for every conceivable scenario IN ADVANCE and then continuing to use your business plan as an active tool to stay focused and on course is absolutely vital to long term success. 

3) How clear is your vision and how focused are you on your goals?

This goes back to your business plan which is vital... but it’s more than that. It’s the ‘bigger picture’. It’s ‘your why’. It’s the vision you had when you started. But did you ever take the time to really flesh out every aspect of your vision? Did you set clear and attainable goals to start? Have you updated your goals as you have achieved them? If you haven’t done this work - you will never realize your full potential and it is likely that you will fail in trying. 

4) Hiring the wrong people. 

Many new entrepreneurs have no idea who to hire or how to go about it. Many have never hired or managed others before. This is a whole area of expertise that you will have to become familiar with as a business owner. But don’t be disheartened... there’s a science to it. It starts, though, with clearly identifying the role/job description you need to fill. Then there is an important step many businesses fail to take - which is to clearly identify their company culture (or begin to build one) which is based on your core values and your vision - and then figuring out what type(s) of individuals best ‘fit’ into your culture and your vision. Before you can even begin looking for someone to join your team... you have to know exactly what you’re looking for. (Yay! More planning!)

5) Failing to ask for HELP! 

Oh this is one of my favorites! Look around you... small businesses make up the vast majority of our commerce and support our amazing American economy. Small business, while it is a daunting adventure at the beginning... is not a new thing and there are a wealth of professionals out there just waiting to assist you. ((PICK ME!)) There are also networking groups and professional development resources (free and paid) that you can take advantage of. Do not go it alone... tap into the knowledge base of people that inspire you. Stay connected to people and groups that will educate, encourage and help hold you accountable. There is absolutely no need to try to reinvent the wheel as a business owner. 

6) Social media - do I have to?!

Yes. You have to. I admit... I have been a little behind the curve myself. It’s a bit daunting but it is the way we connect in this modern age. Spend the time. Get acquainted with it. Learn about the various forums, formats, tools... and get started. If you’re truly overwhelmed or unable to wade in on your own, there are plenty of people and services out there that are educating business owners on the subject (again, free and paid). Find resources, make a plan, get busy. CONNECT. 

7) Financial accounting and internal controls. 

Unless you are an accountant or financial planner, it is likely that this topic does not excite you. That’s quite alright but it doesn’t mean it can be put on the back burner for ‘when I’m making money’. Part of your business plan will be financial goals. In order to meet those goals you will need a means by which to account and report your current status and be able to compare it - real time - and proactively to your goals. There are a number of other very important reasons why you MUST have a proper system of accounting and internal controls... such as tax planning, avoiding fraud and theft, preparing for future capital funding needs, etc. Suffice it to say, you MUST have a proper system in place to assure your success. 

8) Spending too much money or being under funded. 

This goes back to both the business plan as well as the need for proper accounting and internal controls. Without these things in place at the very beginning... you are almost certain to over spend or be under funded. Or both. When it comes to money and business, you really have to be a proactive planner and a good steward. Think of money, particularly in the beginning, as a vital resource for your success. You have to spend it in order to make it. You need to know how much you need, how much you have, where the rest it is coming from, and how you will ultimately pay back borrows funds. Then you need a budget to adhere to so that you remain solvent while your venture grows. With the right strategies in place and given proper attention to executing those strategies... your business will grow and so will your bottom line. 

Contact us today to discuss sBs Growth Coaching™ and Consulting options for help in developing a strategy to avoid the common pitfalls of startups and small businesses. We can help you chart a course for success that will be sustainable and will grow as your business grows. Don’t go it alone.

https://www.s-b-services.com/get-started

#ineedhelp #sbsgrowthcoaching #businesscoaching #businessconsulting #startups #smallbusiness

Are You Productive or Just Busy?

“Focus on Being Productive Instead of Busy” - Tim Ferriss

I am a self-proclaimed efficiency nerd and proud of it! I am hardwired to constantly be searching for better, smarter, faster, easier, more productive ways of doing absolutely everything. This quote by Tim Ferriss speaks to me on the deepest levels and inspires me. I had to share. 

As leaders and entrepreneurs... we are absolutely some of the busiest people. Others wonder how we accomplish so much in a day. People look to us for inspiration. Regardless of how productive we may be though, every one of us is guilty at times of being ‘busy’ but not always ‘productive’. Why does this matter? Our time is very valuable. 

Time is the most valuable resource we have. If we had more time... how would we spend it? Growing our business? Furthering our mission? Would we spend it with loved ones and friends? How about that vacation we’ve been wanting (no, NEEDING) to take? Whether it is to accomplish more in our work or spend more time in our personal lives... we can all agree that there is absolutely no time to waste being ‘busy’. 

When is the last time you have given careful consideration to the practices that you or your team focus on and spend time doing day in and day out? sBs offers a comprehensive Business Process Review & Systemization Analysis. Let us help you take a critical look at your business ‘habits’. We will offer valuable insight to the areas of opportunity for greater efficiency. Armed with fresh perspective, new tools & renewed clarity... you will be able to break through the ceiling and rise to new heights of productivity. You don’t need ‘more time’ in your day in order to accomplish your goals... you need to make the best use of the time you already have. We can help! 

Contact us today to discuss sBs Growth Coaching™ and Consulting options for help with reviewing your systems and processes to identify areas of increased efficiency that will open the door for more time to devote to making your goals a reality.

https://www.s-b-services.com/get-started

#businesscoaching #ineedhelp #sbsgrowthcoaching

Wise words from a wise man

Truer words have never been spoken…

“The secret of getting ahead is getting started. The secret of getting started is breaking your complex, overwhelming tasks into small manageable tasks, and then starting on the first one.” - Mark Twain

…but herein lies the issue. You have a project in mind. You’ve thought and thought about it. Discussed it with your team and decided it’s ‘a go’. But now you are so filled with ideas on the subject that your head is spinning and suddenly you are overwhelmed. Maybe you’ve even set the idea aside because where to start and how to execute was just more than you can navigate and, after all…, you’re a very busy person. Let’s pick up those ideas and make this thing a reality!

Contact us today to discuss sBs Growth Coaching™ options for help with creating a road map to success and using task management to break down that map into actionable items that will lead you to your goal.

https://www.s-b-services.com/get-started

#motivation #businesscoaching #ineedhelp #sbsgrowthcoaching