Tips for Small Business Survival.

WHY DID YOU GET INTO BUSINESS.
Most of us don’t go into business to work 80 hours a week, have no time with our family and no time for vacations. To be underpaid or have our work undervalued, or to be overwhelmed with the stress and anxiety of running our business alone. It is usually the complete opposite. We want work life balance, more time with friends and family, time for vacations and the ability to make money and be successful. There is nothing wrong with wanting to make money. When we are successful, we actually tend to extend that success to other people. You are able to spend more money and support other small businesses when you experience success. 

Don’t feel guilty about wanting and needing to make money or wanting and needing to be successful. These are things we strive for. 

BUDGET & PLAN
Budgeting is not just about getting the basics, such as licenses and cost of classes and literature for those classes. You have to integrate marketing, advertising, networking, expenses and cost into your startup cost. If you decide to go into say real estate, and it’s a saturated market, you will need the budget for marketing and advertising to get your name out there in front of potential buyers. It takes marketing to do that. There is a lot of thought and integration that goes into your budget and plan in order to be successful.

KNOW YOUR VALUE
Know your value of the service you provide or the product that you have. When you are just starting your business you will have people who want you to do work for free, barter with them, or will be hunting for a deal or discount. Don’t devalue your work. 

MINDSET
Know when to ask for help or hand off work when it’s taking too much of your time and know that eventually you will need to outsource work to keep your mindset and focus on your product or clients. 

MARATHON – NOT A SPRINT
Stick with it. Make your marketing plan. Plan on some failures along the way. Owning a successful business is a marathon, not a sprint.