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The hats you wear as a business owner and your success

Updated: Mar 7, 2020

Many small business owners run their own business by themselves, which means that on top of the area of they are passionate about, which made them open their business, there are multiple roles they have to play when managing the business.

No matter what sort of small business you have, the following should be managed, in order to avoid creating a barrier to your success.

Be aware of all aspects of business management

In order to create and maintain a successful business, you need to understand that business management can be a profession by its own right, on top of the actual business specialty you already have.

As a small business owner, you most likely manage all areas of the business. Did you stop to think if you understand the accounting and tax rules? Are you familiar with all the health and safety regulation that are relevant to your business and that you have to follow? What are the best mechanisms of marketing you need to use for your business? Are you aware of human resources regulation in case you have employees? How do you manage your time and budget? Do you manage people effectively? In other words, you have to become a jack of all trades when it comes to managing the different aspects of your business.

Know the results you are after

What is your vision for the company? What are your short term goals? What are your long term goals? How do you see your business develop over time?

If you think that you can just “wing it”, you will eventually come to an halt, and then it may be too late to start changing things around. Without a clear goal, you will not know where you are going, how to get there, and when you are actually already there. Without the goals you are just drifting away, counting on luck rather than taking control of your business into your own hands.

Make sure to set SMART goals, these goals are:

Change limiting beliefs

Every one of us has our own belief system. This system has been developed over the years, where it always started from serving us, however with time things may have changed, whilst certain beliefs remianed the same but no longer serve us.

Beliefs effect, and in extreme cases govern, your perception of yourself, your abilities and capabilities, your potential and opportunities. You must hold onto, value and nurture the beliefs that empower you and help you. In fact, your belief system determines your comfort zone, but when a certain belief doesn’t serve you anymore, it becomes a limiting belief.

For example, if you have a limiting belief that successful business means too much hustle and no time with the family, getting into heavy debts or anything along these lines, you could make undeliberate attempts to sabotage your own success or find excuses to why it wouldn’t work, rather than do what it takes to make your business successful. These limiting beliefs should be identified and changed to an empowering belief that will help you achieve the results you actually can.

Close the gap

Do you think your business can do better? Do you feel you can get much more out of your business? Do you see a gap between the results that you get to those you wish to achieve? How would you like to close this gap and actually get the results you are after?

Sometimes all it takes is simply reaching out to get the support of a professional that can show you the way. This can make a huge difference between struggling on your own, or meeting and even exceeding your goals to success.



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