Not something we want to think about too often, but still a part of the “admin” of our lives: planning for our demise is especially important for business owners, though it may be last on the list of things to do. Blogger Rick Mapperson offers some advice for small businesses.
I once heard a store about a bookstore owner who had the misfortune of being located between two giant bookselling competitors.
I used to have the cleanest office in the world when I had a horrible or uncomfortable task to do. It was always easier to scrub the floors than it was to address a problem, or an elephant, in my business. However, by allowing our businesses to work around a big elephant in the room we are losing money.
Take a look over your shoulder. Do you see the elephant in the room?
How good are you at asking for other people’s money? What I mean is, how good are you at closing sales and actually having people agree to spend money with your business?
Proving how real the threat of isolation is for small business owners, last week’s post about isolation has seen considerable discussion with many fellow small business owners admitting to feeling alone in their business.
Spend a lot of time working on your own and you can start to feel cut off from the rest of the world and alone. It’s no secret that the quiet can get to you.
For this reason, the risk of isolation for small business owners is very real.
Being a small business owner is so glamorous and straightforward, right?
You can work whenever you want, determine your income and make your own rules. It’s the lifestyle that everyone wishes they had. Or is it?
There are many ways for you to improve your cashflow simply by altering your business processes and taking advantage of things such as interest-free days on credit cards where possible.
I advocate the umbrella concept of business protection. An umbrella can’t stop the rain from falling, but it will protect you in a storm.
