Running your own business or heading up a small to medium enterprise is no mean feat. There are several pitfalls and traps you should avoid falling into if you want to retain your focus on providing a brilliant service – while climbing upwards on your industry ladder. Here are a few key ideas you can take away today and apply to your everyday routine.
Think With Your Head
Business deals require a cool head– one that can quickly analyse a situation and ascertain whether they are worth getting into. Don’t be led by feelings and emotions alone – be probing, be analytical – until you’re certain you’re making the right deal for you.
Appreciate Your Own Worth
It’s easier than you think to undersell yourself – in fact, far more of us do it than oversell. Do your research – know your industry – and understand that your time, as well as expertise, is valuable. Never do deals for the sake of doing them – or if you want to avoid saying ‘no’ even if something feels wrong.
Stick to Your Own Path
Don’t get distracted by unnecessary noise, ‘yes’ men and others’ business plans. You need to consider your own survival and evolution as a business – and this means that you should also put up clear boundaries at all times. Never buy into pity – it’s a ruthless world out there!
Nourish Healthy Relationships
Understand that there are going to be poor business people out there. People who aren’t punctual. People who never deliver – or who make excuses. People who promise the world and deliver nothing. People who delay with meeting after meeting after meeting. Don’t indulge or encourage this behaviour – and certainly don’t copy it, either.
In business, you are going to need to be selfish – remember that a deal is never done until you’re confident you have everything you need to know – and until you have at least a modicum of money transferred over. Follow these concepts and you’ll be on the right path to survival as a small fish in a massive pond.