It can be intimidating to start your own business, but the first step is one of the most rewarding. Now that you’ve taken the plunge, here are some great tips new business owners can use.
1. Know your worth
Confidence comes from within. Positive self-talk and professional growth are key to recognizing your worth. You can become the best in your industry by giving yourself the training and tools you need. You'll be able speak more confidently, present your business to others and provide better service to your clients once you have the right attitude and cold hard skills.
2. Don't keep it in the family
Although you love your cousin, would you choose her to be your roommate or best friend? How about your best friend, mom, or husband? Ask yourself if you are able to treat them like any other employee before you offer them a job.
This is a great piece of business advice to help you get far and avoid awkward family gatherings. :)
3. don't micromanage
How did you feel when your boss micromanaged you? You were likely frustrated, resentful, or stressed. This is not what you want to do to your employees. Micromanaging not only creates a stressful and inefficient work environment but it also defeats your purpose for hiring someone to help. It costs time and money to use something that you don't fully utilize. In essence, it is like doing half the job of another person.
Micromanaging because you don’t trust an employee might be a sign you need to get in touch with your inner self. Do you have control issues? Do you think your way of working is the only way? Unpacking the reasons you micromanage can create stronger relationships with your employees.
Employees who feel fulfilled have autonomy, respect, and feel they are valued. The happier your employees are, the more productive they will be for you.
4. Excuses, excuses, excuses
Fess up if you make a mistake. Mistakes are inevitable, and recognizing them is a sign of maturity. (And a commitment to becoming better at what you do.)
Apologize for your mistake, identify the root cause, create a plan to prevent it from happening again. Consider how you would feel if you were the client or colleagues, and what it takes for it to be fixed. Next, take action. Transparency and honesty are key to building trust.
5. Keep your cool
Clients should not see the chaos behind-the-scenes. Be calm, no matter what happens. To get your plan in place, take a few hours to reply to emails. Before you take it to a client, make sure to talk to everyone involved. Go for a walk if you are feeling frustrated or upset.
Clear heads solve problems better than panicked ones.
6. Everything is a lesson
Every business owner knows that you'll make a mistake at some point. It is inevitable. The wisest people see every failure as an opportunity to learn. This allows you to continue looking forward while continuing your development in a productive way.
These are just a few of the numerous tips I’ve learned as an entrepreneur. Looking for more? Check out more of my articles.