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5 Must-Have Skills for Every Successful Small Business Owner

5 Must-Have Skills for Every Successful Small Business Owner

If you look for successful small business owners on the internet, you’re likely to find a hundred different names and their stories of becoming successful. You’ll find these people and their stories as different as night and day.

Running a small business is associated with huge responsibility–one that is linked with taking care of your investors and employees, serving your clients or customers, and most importantly living up to your own goals and standards. Starting and operating a new business can be hard as roadblocks you never thought to imagine might crop up, including limited time, manpower, and budgets.

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With a solid team and the right tools, however, soon you will be on your way to reaching your business potential. To help find success as a small business owner, I’ve compiled this list of five essential skills that you must keep in mind.

1. Get organized

There is no question that the work you perform in your business are different than other business owners, but there is a strong connection in how you execute them. Think about it like making a grocery list; you get everything you need in one trip. You won’t drive back and forth for each item. Similarly, you should aim to consolidate your errands and the tasks of your business. Group similar tasks and aim to accomplish them on a specific day or at a certain time. For example, instead of checking your emails constantly throughout the day, answer your emails in the morning, and once again in the afternoon. By consolidating your tasks and getting work organized, you will eliminate multi-tasking and can focus on essential tasks to finish a project.

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2. Enable your team with ready information

To make the right business decision your team must have all of the information about your market, your customers, your competitors and your business processes. Putting your team in a situation where they have to hunt for the required information is not productive for any kind of a business. It encourages frustration, and lack of accuracy for your team. In return, they will make a guess rather than hunting down the right information. Effectively using and managing information is critical to driving business and streamlining operations in the Big Data era. Think about the kind of information and the system to provide it to your team on a daily basis for their routine work. Do they have all the required information at their fingertips, or do they need to ask the manager and work up the chain to access it? You might need an online database management system to provide teams with all kinds of information in real time, ensuring instant data management.

3. Get in the cloud

According to a recent story on Forbes, 78% of U.S. small businesses will have fully adopted cloud computing by 2020 ,more than doubling the 37% in 2015, resulting in more databases taking up residence on the Web. The use of cloud-based applications and software can significantly improve business efficiency. Give your team members the possibility to work from anywhere, whether they are at home or are out of the station on a business tour. When you and your team members can work from any location, your productivity will increase. Look for ways to shift your business to a cloud to tap into this always-available work approach. Engage a professional to make cloud-based software for your business databases. Manage your sales and inventory in the cloud or web databases. Make it effortless for your sales team to work on the road, adding live sales figures and updates into your system.

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4. Motivate your team

Being a business owner and an employer, leadership is a crucial key skill for success. In order to get the best from your team members, you must motivate and invigorate them. The success of your business will depend, to a great extent, on the spirit and productivity of your employees, and it is your responsibility to ensure that they are getting what they need (morally or monetarily) to perform exceptionally. You must be prepared and available to know the concerns from your staff.

5. Track performance

It’s essential to set business goals and objectives for your company, and to be able to measure progress. As a business owner, you need to establish specific measurements that show your business performance against the set goal. Measuring and tracking business performance will identify issues and success factors that will advance the overall organizational performance. Consider looking at your weekly sales or database software. Check your performance. Are you retaining customers? Track how your team performs. Are they hitting deadlines?  Find tools that can help you to track performance within your day-to-day business.

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Featured photo credit: Photo Giddy via flickr.com

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Tayyab Babar

Tayyab is a PR/Marketing consultant. He writes about work, productivity and tech tips at Lifehack.

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Last Updated on September 23, 2020

Do What You Love and Love What You Do to Achieve More

Do What You Love and Love What You Do to Achieve More

Are you waking up each day looking for that perfect thing, activity, or job that will make your life work? Or, maybe you are looking for that perfect relationship. Once you “get” this new thing that will allow you to do what you love, you are sure that you will be happy forever.

In reality, life doesn’t work like that, and we would probably get bored if it did. There is likely no one thing, experience, or activity that will keep you feeling passionate and engaged all the time. What’s important is staying connected to what you love and continuing to grow in the process.

Here, we’ll talk about how to get started doing what you love and achieving more in life through the motivation it brings. Doing this doesn’t have to take a long time; it just takes determination and energy.

Most People Already Know Their Passion

So many people walk around in life “looking for” their passion. They look for it as if true passion is some mysterious thing that is difficult to find and runs away once you find it. However, the problem is rarely lack of passion.

Most of us already know what we love to do. We know what excites us, even if we haven’t done it for years. Instead, we focus on what we think we “must” do.

For example, maybe you love building model cars or painting pet portraits. Yet, each day you work a completely unrelated job and make no time for the activity you already know you love. The truth is you probably don’t need to find your passion; you just need to start doing what you already know you’re passionate about[1].

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No Activity Is Exciting All the Time

Even people who are living their dream lifestyle or working their dream job don’t love it all the time. Every job or lifestyle has parts of it that we won’t like.

Let’s say your dream is to become an actress, and you succeed. You may not enjoy the process of auditioning and facing rejection. You may experience moments of boredom when you practice your lines over and over again. But the overall experience is totally worth it.

Most of life is like that. Don’t set yourself up for disappointment by demanding that life be perfect all the time. If things were perfect and easy, you would ultimately stop learning and growing, and life would begin to lack even more meaning in that case.

Be grateful for both the good and bad moments as they are both entirely necessary if you genuinely want to do what you love and love what you do.

Doing What You Love May Not Be Easy

Living a life you love is unlikely to be easy. If it was, you would not grow very much as a person. And, if you think about a great book or movie, the growth of the main character is what matters most.

What if the challenges you meet along your path to living a life you love were designed to make you grow as a person? You may actually start looking forward to challenges instead of dreading them. An easy life hardly ever makes a compelling story.

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If you struggle to overcome challenges, try writing them down each time you encounter one. Then, write down three ways you could tackle it. Try one, and if it doesn’t work, try another. This way, you’ll learn what does and doesn’t work for you.

How to Do What You Love

There are many small steps you can take to ensure you are making time to do the things you love. Start with these, and you’ll likely find that you’re already on the right track.

1. Choose Your Priorities Wisely

Many people claim they want to do something, yet they don’t do it. The truth is they might not really want to do it in the first place[2].

We all end up following through on what matters most to us. We make decisions moment by moment about what we need to focus on. What we choose to do is what we deem most important in our lives.

If there is something you claim you want to do but you don’t do it, try asking yourself how much you really want it or where it’s currently placed on priority list. Are there other things you want more?

Be honest with yourself: what you currently do each day is a reflection of your priorities. Recognize that you can change your priorities at any time.

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Make a list of your priorities. Really take the time to think this through. Then, ask yourself if what you are doing each day reflects them. For example, if you believe your top priority is spending more time with your family, but you consistently take on extra hours at work, you’re not really prioritizing things in the way you think you are.

If this is happening, it’s time to make a change.

2. Do One Small Thing Each Day

As stated above, doing what you love doesn’t have to mean finding that perfect job that makes you want to jump out of bed in the morning. If you want to do what you love, start with one small thing each day.

Maybe you love reading a good book. Take ten minutes before bed to read.

Maybe you love swimming. Get a membership at the local YMCA, and go there for thirty minutes after work each day.

Dedicating even a short amount of time to something that brings you joy each day will improve your life overall. You may find that, over time, a career path related to what you love to do pops up. After doing the thing you love each day, you’ll be more than prepared to take it on when the opportunity arises.

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If you need help making time for your passions, check out this article to get started.

3. Prepare to Make Sacrifices

If you are an exceptionally busy person (aren’t we all?), you may have to make sacrifices in order to make space for the things you are passionate about. Maybe you take on less extra hours at the office or take thirty minutes away from another hobby in order to develop another that you enjoy.

Looking at your priority list will help you decide what can get put on the back burner and what can’t. Remember, do this thinking about what will help you feel good about how you’re spending your time. 

For example, if you love writing but rarely make time for it, consider getting up 30 minutes earlier than normal. Or instead of browsing your phone for 30 minutes before bed, you can write instead. There is always a way to find time for what you love.

Final Thoughts

If you love what you do, each day becomes a joyful adventure. If you don’t love what you are doing, life feels like a chore. The best way to achieve success is to design a life you love and live it every day.

Remember, doing something you love doesn’t have to include big gestures or time-consuming projects. Start small and grow from there.

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Featured photo credit: William Recinos via unsplash.com

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