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Think Like a Business Owner | Mary Biever | One Writing Mother

Think Like a Business Owner

After being half of a mom and pop family business for the past 13 years, I’ve realized that my owning a business impacts my perspective in  my teaching, volunteer efforts, speaking, and writing.  The mindset required to keep a small business viable, to meet new challenges each year, means that I recognize going with the status quo is no longer a recipe for survival.

How do you think like a business owner prepared to meet new challenges?

  • Listen and watch the world around you. As times change, you must understand what is happening. Then you’ll better predict future trends.
  • Adjust for changes. Last year’s solution may not solve this year’s problems. Be willing to approach challenges from new angles for success.
  • Raise the bar. Don’t accept mediocre service or results. With each project, always be on watch to continuously improve the process and your product. When we decide we no longer have room for improvement, we might as well put the seal of failure on our business ventures.
  • Build your dream team. Surround yourself with people focused on successful outcomes. Avoid those who live for drama or advocate mediocrity.
  • Have fun. Attitude is everything. The more you enjoy what you do, the better job you will do.
  • Refuse to settle. Don’t settle for lower standards and a “good enough” mentality. You can always do better.
  • Remember profit and cash flow. Businesses will not survive if they lose money. When a business is having problems with profit and cash flow, it’s time to change the business model and/or marketing mix.
  • Give back but don’t give everything. Give back to the community and to the causes you care about. Of course you’ll give to your clients as well. At the same time, remember that profit is not a 4-letter word. Sometimes making sure your business generates a profit means you will have more flexibility to help other people.

I wouldn’t trade the adventure of entrepreneurship for anything. But I never realized, when we started on this path, how it would change my whole life.

 

 


One Response to “Think Like a Business Owner”

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