Running a business isn’t without its challenges and we all need a helping hand to get us through those shaky stages when all isn’t quite as you’d like it. Here are our pro tips for running a successful business, from the basics to the less obvious.
1. Be prepared to work harder and longer than you ever did for anyone else
There are so many benefits to running a successful business that it is barely surprising more of us than ever are choosing to do it. However, whoever said it would be easy was wrong. It is almost guaranteed that you’ll work harder and more hours for your own business than you ever have for anyone else. The beauty is that you’ll be the one directly benefitting from all those extra hours of hard work as the business grows.
2. Don’t try to get too big, too quick
There’s a tendency for businesses to respond to busy periods by immediately feeling the need to scale up but try to avoid getting too big, too quick. Any successful business experiences ebbs and flows in workload but the key to remaining profitable and scalable is to give real consideration to when you choose to grow your team. Before you employ, decide whether other roles could grow and change to diversify first.
3. There’s no such thing as too much networking
There are few successful businesses built without networking in some sense of the word. That said, it doesn’t always come naturally to many of us; introverts will be quick to share the feeling of dread that comes with standing up in a room full of your peers to introduce your business. Networking opens doors no other form of marketing your business can, so be prepared to do a lot of it – both at business networking events and in your day-to-day – if you’re determined to run a successful business.
4. Don’t be ashamed to outsource
In a world where being seen to be busy equates to being seen to be successful, outsourcing can tend to feel a little bit like cheating. The reality couldn’t be further from the truth. As discussed by Tim Ferris in his hugely influential book ‘The 4-Hour Work Week’, outsourcing tasks like admin and mailing frees you up to focus on the parts of the business that allow it to earn and grow. There’s no shame in outsourcing and it’s a great way to grow your business quickly without hiring employees.
5. Find a mentor and learn from the best
We’re raised not to copy others and to find our own way, but there is always someone to learn from in business. You become the people you associate with, so make sure your time is spent with like-minded individuals who share your passion for business and success. They’ll be the ones to point you in the direction of industry bodies or to chat over a coffee about that new legislation your friends don’t know a thing about. Having a mentor or two to turn to when business is booming – and when it isn’t – is invaluable to being a success.
