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ground? If your business is not growing, it could be the result of a poor business idea or plan, a lack of advertising, or the mismanagement of your business’ resources. Let’s face it. Running a successful business enterprise is not the easiest thing to accomplish. Your struggles could be the result of factors beyond your own control or factors within your control --- your own actions and decisions. FACTORS OUTSIDE YOUR OWN CURRENT CONTROL If your business is stagnating or dying, there are several factors that could be the cause of your current financial discomfort: · Your local economy could be suffering stagnation or negative growth. · Your competition might be fiercely competing for your customer base. · The building, into which you have signed a lease, might be seen by local residents as the home of businesses that fail, so they will not support you until you have proven your long term viability. · You could be in a terrible location and trapped by your lease. FACTORS WITHIN YOUR OWN CONTROL On the other side of the coin, there are several more factors that could be causing you pain that are well within your control: · You are not spending enough time planning for the future of your business. · You are not spending enough time or resources on developing and distributing good advertising. · You do not have enough staff available to fill incoming orders or to serve interested customers. · You are simply mismanaging your financial or human resources. THE MOST ABUSED HUMAN RESOURCE IN MOST BUSINESSES By watching the activities of many small business owners, one has to ask themselves if the business owners are masochistic? Source: http://dictionary.reference.com MASOCHISTIC - adj : 2. The deriving of pleasure, or the tendency to derive pleasure, from being humiliated or mistreated, either by another or by oneself. 3. A willingness or tendency to subject oneself to unpleasant or trying experiences. How is it that I can even venture to suggest this definition fits the behavior of many small business owners? Simple. Small business owners often submit themselves and their families to the demands of their business. Sometimes to the detriment of those involved in their lives. Of course, one could argue that the small business owner is sacrificing his or herself for the long-term benefit of their families and themselves. Well, one could argue that. And in some cases, the argument would be true. In other cases, the argument would not even remotely be true. THE DANGER IN FAILING TO UNDERSTAND THE VALUE OF YOUR OWN TIME The deadliest consequence in any business is the owner’s failure to understand the value of his or her own time. Even a thriving business can die under the weight of an owner who does not place the proper value on his or her own time. Some owners work long hours for little return because they do not understand their own value. Some of these owners will eventually quit their business for a job that could provide a higher living wage. Others, while thriving, may keep themselves doing tasks that can be and should be done by others. Sometimes, the business owner wants to believe that he or she alone can do the task, or they want to do the things they most enjoy. In the end, these folks fail because the important tasks that should have been done for the purpose of growing the business or meeting the demands of the business have gone undone. The business collapses because they did not take care of the most important facets of their business. PLANNING, GOAL SETTING AND MEASURING COULD CHANGE YOUR FUTURE PLANNING will permit you to see where you want to go and how you hope to get there. GOAL SETTING permits you to make certain specific determinations about your business. One such goal that should be set early and regularly is the level of income that you want to derive from your business. MEASURING lets you see the true state of your business at any one point in time. Measuring at regular intervals lets you see a moving slide show that will deliver an honest picture of the continuing state of your business. Additional measuring will permit you to see how much your time could be worth and how much you are really paying yourself. Your measurements should also permit you to put a cost on the specific tasks and functions that are required in the operation of your business. MAKING THE RIGHT DECISIONS If the amount that you want to be paid and could be paid is higher than the cost of doing the task that you are doing, then you should wisely consider having someone in your employment handle the task. Properly managing tasks and delegating the work at hand can make or break your business. Make the correct decisions and you will be treating yourself better than the average small businessperson. I wish you and your business the very best.
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Advice Home Business Technology Online Advertising Motivational Internet Marketing SEO Help Online Games Science Articles Happiness More Articles:1. Over 50 and Looking for Work? Please consider this article for your website or ezine. Permission to reprint if byline stays intact. Courtesy copy appreciated.TITLE: Over 50 and Looking for Work? AUTHOR: Susan Dunn, MA Clinical Psychology, The EQ CoachWORD COUNT: 685WRAP: 65URL: http://www.susandunn.ccMailto:sdunn@susandunn.ccPhoto available: http://www.susandunn.cc/images/susaninstripe1.JPG“Over 50 and Looking for Work?”by Susan Dunn, MA Clinical Psychology, The EQ CoachAs a midlife transition career coach, I often encounter… 2. Can I Really Make Money On The Internet? Yes, you can. Actually, I guarantee that you can makemoney on the Internet. This is not a bold claim.I know you've heard that 95% (probably even more) people fail to make money on the internet. I know you think you've tried all and everything. Probably you have been through enough garbage on the Internet, spent countless hours, possibly a fair amount of money and if you've earned more than a hundred bucks then you have been really lucky.Why is that so?There are to possible reasons why you and th… 3. The Top 10 Daily Mind Discipline Practices Do you find yourself choosing to make changes in your life, wherein you do well implementing your new plan for a few days to a few weeks, only to lose momentum, give up on your new plan and wonder what ever happened to the motivation you once had? If so, you could benefit from adhering to a well thought out plan that incorporates daily mind discipline practices that, when adhered to formulate new habits, and facilitate making desired changes in your life. The following are ten of the Daily Mind … 4. Vision - The foundation of success If success is a destination then vision is a guide for giving us the direction.It would be great if someone could pluck the vision from a tree, but unfortuantely this is not the reality. Here we have to be the creator of it.Vision is like a child, who grows with the time. It depends on you how fast it grows. You have to water it with your imagination and cherish it in your brain till you get success from it.It comes in small ideas which are very difficult to care and every idea contains a slogan… |