Why the Cloud is the best place for your business documents & data

April 1, 2023

Let me tell you a story ~

About 15 years ago, I had a computer catch fire right on my desk! (faulty internal fan😳) Fortunately I was right there to deal with it but I lost ALL my precious photos and tons of important documents and information. Everything.

I learned a very painful lesson and began searching for better ways to protect my data. At the time, the best and most accessible solution was external hard drives and manual backups. Before long though, I had an external drive die (again with all my data on it) Fortunately that time, I still had most of it on my computer as well.

Yet again, I learned the hard way there had to be a better way.

If this has never happened to you, you're lucky, and I totally understand if the thought of keeping your important, confidential, and proprietary information 'out there in the Cloud' strikes fear in your heart. Honestly, at the time I originally started using the Cloud it may have been less secure, but things have totally changed. Nowadays it's far safer than keeping data in any physical form (drives, disks, etc).

Skeptical? I get it. Here's the facts....

WHY USE THE CLOUD?

The Cloud is reliable, affordable, secure, and more flexible than physical drives when it comes to managing data. That's because internal and external hard drives can easily be damaged, lost, or stolen. Using the Cloud protects and gives quick access to your data wherever you are and whenever you need it. Best of all, the Cloud always stays current and never needs to be replaced or updated. Computers and other devices come and go. Your data remains safe and easily accessible.

WHY THE CLOUD IS MORE SECURE

The Cloud provides the highest level of security. Just as clouds in the sky shade you from the sun, Cloud computing protects you from the many digital security concerns you face. It's a lot more likely data on a local drive will become corrupted, be hacked, or accidently erased. Not to mention natural disasters like flood, fire, or just a cup of coffee spilled, will irrevocably damage your hard drives, but when your data is in the Cloud you can rest assured, your data is safe and sound.

WHY THE CLOUD IS MORE CONVENIENT?

The Cloud is available anywhere you are. Whether you’re updating your social media with new photos, sending an email from your mobile device, or streaming your favorite movies, it's all happening in the Cloud. It's everything and everywhere. You're already using it. If you aren't taking full advantage of the technology to make your business run more smoothly and efficiently... it's time.

WHY THE CLOUD IS A SAFER PLACE FOR YOUR DATA

Today, the Cloud is a part of everyday life. If you're not using the Cloud — your data is at risk unnecessarily. The Cloud provides great data backup for unexpected events and it's an integral part of a data security plan. Information stored in the Cloud is far more likely to be secure than local files unless you happen to have a robust IT security company and/or on-staff experts working constantly to keep your data safe. Why? Because Cloud companies rely on far more robust cybersecurity measures to protect your sensitive data than most small businesses could ever have. It's just built in. So unless you are an IT company or already have massive IT security protocol in place... you're likely at much greater risk by continuing to keep things local.

SO WHAT’S THE SOLUTION?

There are many Cloud based file services available now. Which one will work best for you depends on what your individual needs are (how much storage space you need, what features are most important to you, how you use it, etc) and cost, of course.

Popular options include Microsoft OneDrive, Google Drive. Another is Dropbox.

In essence they all work in a similar way. I've used them all. I prefer Dropbox for my business because it integrates in a more functional way with my computer and the programs I use. It lives right in my file directory so it looks, and acts, just like the local files. It's super easy to use. It's accessible from all my devices. And the app is PHENOMINAL.

If you would like help choosing and setting up the right Cloud based file service for your needs, please schedule a call with me to talk about it.

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~ Becky O’Neill, Author
Founder of Specialized Business Services LLC

Would you like help?

Working with an expert when making important decisions in your business is a powerful tool to create significant growth and lasting change. It really helps to see things from a fresh perspective and consider ideas and concepts that may not come to you on your own.

It’s not necessary or important for you to know how to do ‘all the things’ in your business. What’s important is who you have on your team and what THEY know that you can use to your advantage.

If you would like to explore working with me, I invite you to schedule a Discovery Call. 👇

Is it time to increase your fees?: Two things to consider in your decision

December 20, 2022

This is the time of year when you may be thinking about increasing your fees. I know pricing is a tricky subject with a lot of factors to consider and we won’t go into all of them here - but I want to give you a couple things to think about.

1) Costs

I know I don’t have to tell you about how much costs have gone up. Have you taken a look at your profit and loss statement lately? Look at your YTD Net Profit. Are you happy with it? Are you surprised by it?? Chances are, it’s a little more slim than you’d like if you haven’t raised your fees lately.

📌(side note - if you’re not actively using your financial reports to make decisions, I strongly recommend that you do. How much cash you have flowing in and out of your bank account is not a good indicator of your financial situation. If you’re not sure how to interpret your reports or your finances are not in order, let me know. I can help.)

2) The psychology of pricing from the client perspective

Where is your pricing compared to others in your market? If you are too low, current clients (and potential new ones) may view you as less experienced or credible. Clients may not take the work as seriously as they need to or they may even stop using you altogether. If you are too high, you may experience a challenge in landing and keeping clients due to price tolerance. There is a whole science around price tolerance and we don’t have to go down that rabbit hole now - just consider where you are in your market and what amount of industrywide ‘wiggle room’ you may have.

No, I am absolutely not saying you should base pricing on competitors, but it is something to consider in your overall pricing strategy. The client perception is very important in the psychology and success of the relationship. They need to perceive you as an expert.

Raising your fees may be necessary, if not inevitable, for the health and sustainability of your business as well as your personal financial success.

Basically, when raising prices, the goal is to keep most (no, I did not say ‘all’) of the clients you have, and still be marketable to new clients at a higher rate so you can remain profitable. Finding the sweet spot is key.

There are many ways to look at pricing and lots of things to consider. These are only two of them. You need to have a strategy and it should be revisited at least yearly, if not more often.

Make sure you are earning enough to be profitable. Have clear goals and understand your numbers so you’re not chasing profitability.

If you are not sure, or would like some help, let me know. Let’s get together and talk about it.

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~ Becky O’Neill, Author
Founder of Specialized Business Services LLC

Would you like help?

If you would like to explore working with me, I invite you to schedule a Discovery Call. 👇

NO'vember is a great time to create boundaries

November 10, 2022

If you find saying ‘No’ difficult, you are not alone.

Women, in particular, are prone to feeling the urge to say yes to just about everything. Learning to say ‘no’ can be challenging but it is VERY necessary to preserve your sanity, your energy, and to create more joy in your life.

If you are a chronic people pleaser, overachiever, or if you find yourself with more to do than time to do it… THIS is for you!

Now that we’re past Halloween most of us feel compelled to throw ourselves into holiday mode, and that can feel great but also very stressful and overwhelming.

If you love every second of all of the activity, shopping, and goings on, then, by all means indulge!

Always do what your heart desires.

If, however, you tend to become tired, stressed, or overwhelmed this time of year then now is the perfect time to consider and PLAN what you’re going to say ‘yes’ to… and what you will say ‘no’ to in order to moderate and fully enjoy the holiday season ahead.

PLANNING EXERCISE:

It may help to settle down with a comforting beverage and a piece of paper and write down all the things that you are responsible for and events that you attend over the holiday season. Then take a look at the items on your list and ask yourself if you want to say ‘yes’ this year or if you prefer to opt-out. Try to avoid the dreaded ‘should’ as a decision maker. My personal litmus to these decisions is ‘if it’s not a ‘hell yes’ then it’s a ‘no’. Feel free to apply this technique to your process!

This simple exercise will give you perspective and allow you to consider your options in advance so that when it comes up, you’ll be ready to flex your ‘no’ muscle if that is the right choice for you this year.

If you would like to download & print a worksheet to use for this exercise, click here 👉 WORKSHEET

REMEMBER:

You don’t have to over explain your decisions. You are fully entitled to them. People understand. And if they don’t, too bad. I know this sounds a little harsh but you will find that once you establish boundaries around your time and efforts, most people will quickly observe and respect them.

‘No’….is a complete sentence. It is a game changer… a life saver… a freeing expression… PRACTICE EXERCISING YOUR ‘No’ MUSCLES and enjoy your holiday season more this year!

If you enjoyed this post and would like to keep in touch…

👉 Please join my email community using this link:

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~ Becky O’Neill, Author
Founder of Specialized Business Services LLC

Would you like help?

I find working with someone that I can bounce ideas off of and who will support me in making important shifts in my business and my mindset is the key to lasting change. There is power in working with a neutral expert. It really helps me see things from a fresh perspective and consider ideas that may not have come to me on my own. Despite our best efforts to be objective, the input of another qualified person is often the missing link. This realization is actually the reason I became a coach!

If you would like to explore the option of doing this work with me, I invite you to schedule a Discovery Call. 👇

4 Important Questions About Money

May 11, 2021

When you are working to develop a truly successful Business Mindset, one of the first things you need to assess is your comfort with MONEY. Why? Because in business, money changes hands regularly and your relationship with money is a key player in the decisions you make every day. You can literally win or lose as the direct result of how you think and feel about money.

Everyone initially thinks…. oh, I don’t have a problem with money. I love money (or the things that money can buy). But is that really true?? When you scratch below the surface you’ll see it is a rather complicated subject.

Most people have underlying ‘money issues’ that they have unsuspectingly brought with them from childhood and early development. In fact, I believe EVERYONE brings a certain bias to the subject of money and accumulating wealth and they are not even aware of it.

When I was a child, we did not have much but I never felt “poor”. I know now, that we were and that my parents struggled to keep food on the table and a roof over our heads for much of my young life. My mother worked very hard to gain degrees in higher education all the years I was growing up while simultaneously working two jobs. Needless to say… I didn’t see a lot of her. I respect her totally though for the hard work she gave and the example she set for me.

The thing I remember most about money, or money issues, was actually from when I was a teenager and my family had risen out of poverty and were what you might consider ‘middle class’. Not well off, not poor. Stuck in the middle where most people find themselves.

There was a strange feast or famine type of relationship with money in the household. Often times I would hear it said “we can’t afford that” but then my mother would go to the wholesale club store and come home with massive quantities of supplies and food. She would spend hundreds of dollars stocking our home with things we didn’t need 20 of…. but not allow herself to buy a new outfit… and certainly not a new car or piece of furniture EVER. It was an odd paradox and it did not go unnoticed by me.

This began my interest in understanding money and why you make the choices you do with it… where the motivation comes from to make those choices… and how those choices ultimately affect your success or failure in acquiring financial freedom or wealth.

If you want to explore your own relationship with money… I’ve included 4 simple prompts to contemplate. Consider the way you feel in your body as you respond to the prompts and ask yourself if you are being totally honest with yourself as you answer them. Dig deep for a few minutes and consider each one. You may be surprised to find you have some underlying tension in your body or outright discomfort that comes up surrounding the subject of money. It’s a very interesting thing that happens.

Try these prompts on for size at a time when you have about 10 minutes, things are quiet, and you are relatively relaxed. Write down your responses and the feelings associated with them so you can look at them later. For now - just do the exercise and be careful not to judge yourself for what comes out.

1) I want to be rich!

(Say this one out loud with some gusto! I think you’ll find this one is tricky because everyone says ‘yes’ but pay close attention to how you FEEL when you say it. Are you too embarrassed to even say it out loud? What else comes up for you?)

2) The first significant memory I have of money, or lack of, when I was growing up is _____ and how that affects me now as an adult is _____.

(Initially you might think your exposure to money, or lack thereof, has no effect on you now as an adult… but if you think and feel on it for a while… your eyes may be opened to the fact that there is absolutely a direct correlation between your childhood experiences and your relationship with money now. I call this ‘programming’ and it is a very powerful motivator and/or block to accumulating wealth.)

3) I want to be more financially successful than my parents are/were.
(There is a very interesting thing that happens when you think directly about surpassing your parents, or other important family role models, and becoming significantly more financially successful than them. There is often an underlying shame associated with it. Notice this as you consider this and see what your level of confort is with it.)

4) If I were rich, I would (a) want everyone to know, or (b) not live in a way that made it obvious to others.

(This offers an interesting view into your comfort level with wealth. Do you want people to know you’re very wealthy? Would you feel conspicuous or even embarrassed if people knew? There’s no right or wrong here… but it can be enlightening to consider because it tells you about the ‘story’ you have in your head about whether it’s ‘ok’ to be wealthy or if there is shame attached to it.)

These are just a few quick things you can play with some time when you are alone. Knowing where you stand in your relationship with money is important to developing a Business Mindset that allows you to receive success. Often times we have no idea - but we are actually standing in our own way and even sabotaging ourselves with our ingrained programming and habits simply being unaware.

Unlocking it can be as simple as understanding where certain ideas and ‘stories’ come from… and that they are not our own. They are the product of our programming. And you can choose to change your mind about it if you wish to.

Large Companies Understand the Value of Systems: Applying This Wisdom to Small Business

April 6, 2021

In my work as a Business Growth Strategist, one of the single most common issues I see that prevents growth for businesses has to do with systems. With start-ups and newer businesses, it is the LACK of systems. In more established businesses it is OUTGROWN or OBSOLETE systems.

Large companies understand the value of systems. The ones that have good systems have good results. The ones who’s systems have been allowed to become obsolete begin to fail. It’s easy to see which ones have good, properly functioning, systems and which ones do not based on the experience you have with them and the quality of their goods and services. If you start to pay attention in your travels through the world, take note of your experience with large companies and look for their systems.

What do I mean by systems?

A system is a(n):
- Documented
- Effective
- Efficient
- Consistent
- Repeatable
PROCESS that allows for the execution of tasks or operations within a business.

Why do systems matter? At its core, a business is no more than an array of processes that produce a particular result or outcome that is an income generating ‘thing’. A system is a documented process. Without systems, businesses are largely disorganized and unable to consistently recreate the income generating ‘thing’.

It may seem that all businesses are unique and complicated, right? They may have employees or maybe not, offer different types of products or services. They seem to have a lot of layers and moving parts, right? This is true but, interestingly, there are more things that are ‘similar’ within businesses than there are ‘different’. One of the similarities among all businesses, large and small, new and old, is the inherent need to have systems in place to grow. It is what I call a ‘universal principal of business’.

In order to grow your businesses, everything needs to have a good system. Everything. Every role. Every task. Every operation. Every function. There are 3 primary business functions. While there are others, nearly all businesses have at least these three main functions within their organizations:
- Administrative (the work of maintaining the business itself)
- Sales (the work of obtaining clients and contracts for the income generating activity)
- Operational (the work of producing the income generating activity)

All three of these areas must have good systems established and maintained for them to function at maximum efficiency and allow for growth.

Good systems are made up of the following 5 things:
1) Documented - the process must be written down in a procedural format
2) Effective - it must be a practiced and proven as a means of execution. In other words, it works. It gets the job done right.
3) Efficient - it can be done in the least amount of time and with the least amount of effort and expense
4) Consistent - it can be done consistently over and over and produce the same result each time.
5) Repeatable - it can be repeated or reproduced over and over by more than one person (if only one person can do it... it’s not a system)

Think about it this way. Large companies that we encounter all the time have systems. Right? They understand the value of systems and they have invested in having every process documented and systems created. They don’t leave things to chance. From the smallest things to the largest. They have a system for everything. Why? Because it’s the difference between success and failure. Profit and loss. Everything has been analyzed, the best ways of doing things have been established and documents, and then that becomes their practice.

When businesses have great systems you can easily see it. Think about Chick-fil-a as an example. You can go to any of their locations and get the same thing and it’s consistent. Their people are pleasant, they’re trained to say and do the same things, and your experience is consistent, right? They have great systems.

Think about an airline like Southwest. They have systems for everything. Everything they do is universal and consistent across the board. They allow for the individual personalities of their employees to come through which is kind of unique among large businesses... but the employees all still ultimately do the same things over and over. Every employee, every flight. Good systems.

I challenge you to start thinking of your business as an array of systems. Where they are lacking... build them. Where they are ineffective... fix them.

Contact us today to discuss options for help in developing a strategy for the growth of your small business. We can help you create a roadmap to quickly and confidently grow your business in a focused way. Don’t grow it alone.

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

#ineedhelp #businesscoaching #businessconsulting #startups #smallbusiness #freshperspective #systems #businesswithbecky #businesssystems

Intuitive Business Consulting - What It Is And Why You Need It Now

September 3, 2020

In these unprecedented times of sudden change and uncertainty - there is NO advice anyone can give you, no matter how great they may be at their profession, that is proven or concrete. Every business advisor, no matter their field of expertise, is pulling from knowledge and experience that is not specific to the set of issues we now face. The reality is... it's all conjecture.

Have you ever considered meeting with an intuitive business consultant to guide you? Did you even know there was such a thing?!

A little known fact of who I am and how I provide such spot-on business coaching and consulting; I am highly intuitive and receive what some call "downloads" when I am working with clients. It isn't a woo psychic ability or magic. It is the ability to reach deeply into the intention and emotion of my clients and 'read' them and their business. I combine the information I receive from my intuition with the knowledge and experience I have growing successful businesses and offer the steps to take that make the greatest impact in the least amount of time specifically for you in your current business environment. It looks like conversation, but clarity and actionable steps come from it. It is a simple but very powerful tool.

I don't talk about it or market myself as 'an intuitive' because people have "opinions" about such things that can be harsh and exclusionary... and it hasn't been necessary for me to call attention to it until now. The information just happens in the background and my clients benefit from it without even knowing 'how' I know what I know. Given the results they receive, they probably say they don’t care where it comes from!

So why speak of it now at the risk of turning people off? Simply to offer help to people in a time when all other forms of business advisory are not reliable.

What can you trust now? What information can you truly rely on? Intuition. Only that. You have within you a deep intuition of what you can and cannot do, should and should not do... most people are not in touch with this gift but it is there for everyone. This is where I come in.

When I work with someone to grow their business, I rely not only on my vast experience, but also my intuition and ability to tap into the intuition of others. Basically, I bring a spotlight to the equation and can easily help sort through the layers people get lost in to find the steps to get unstuck, free from fear, panic and overwhelm, and move directly into clarity and, most importantly, to actionable steps that produce real results.

Want to learn more about how an intuitive business consultant can help you? Contact me.

Published by:

Becky O'Neill
I'm a giant business nerd 🤓 helping Women #HaveItAll by growing 🌳 strong independent 💪 service businesses 💼

Originally Published • 09/03/2020

Why Every Business Needs an End Game or Exit Strategy

November 27, 2019

“I’m just getting started... I’m not thinking about how my business is going to END...”

[…said every new business owner ever]

So why do I really need an “End Game” or “Exit Strategy”?!

EVERY decision about the structure and function of your business needs to be made through the lens of your chosen end point in order to assure that it arrives precisely on target in the most efficient, profitable and sustainable way possible.

If you do not choose a specific end point for your business and actively work towards it… you are effectively choosing to have it simply ‘end’ on its own and in some way that is NOT likely to be how you would have preferred.

📌 A business that has not been grown with the intention of having it go on ‘autopilot’ will most certainly NOT run itself.

📌 A business that has not been grown with the intention to ‘sell’ will be very hard to market at a desirable price point and will be very challenging to transition when the time comes.

📌 A business that has not been grown with the intention of ‘passing it on’ as a legacy will be very hard for your children to take over successfully.

📌 A business that has not been grown with the intention of ‘franchising’ will be next to impossible to duplicate.

📌 A business that has not been grown with the intention of ‘going public’ will most certainly NOT do well long term on the market.

Do you see where I’m going with this?? All of these very different end points require a completely different set of growth strategies in order to accomplish the end goal PROFITABILITY AND SUSTAINABILITY.

🤔 WHAT IS YOUR END GAME?

#endgame #exitstrategy #freshperspective #comegrowwithme #ineedhelp #sbsgrowthcoaching #businesscoaching #businessconsulting #startups #smallbusiness #businessgrowthstrategy #businessgrowth #smallbusiness #business #strategy

Focus on One Thing At a Time

November 24, 2019

What if we focused ALL of our attention on ONE THING at a time. Imagine how much more we would accomplish. Not convinced, read this article and consider it…

Why Small Business Matters

May 10, 2019

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 strike out to make it a reality with almost limitless possibility and potential? And in so doing… 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 makes 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 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.

https://www.s-b-services.com/welcome

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

Becky O'Neill, sBs Growth Coaching™, Small Business Strategist, Business Coach, Business Consultant, Accountant, Bookkeeper, Speaker, Baltimore, Maryland

How to Kill Your Small Business or Startup

April 8, 2019

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’ll 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 recreate 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’. No. 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