A CEO perspective on Business ownership
My husband always tells me that I have two husbands…one is him and the other is my business. The first thing I do in the morning is to check my phone for any important emails…I literally open my eyes and reach for my phone.
I think that this is the case with all small business owners, we are literally married to our business. In order to make any business work you need to be in love with the business idea, be passionate about the mission, and willing to stay committed to the business in good times and in bad.
Business administration is tough, you are working with limited resources and hundreds of hats. You can find yourself doing accounting, sales, and service within a minutes notice. This is why it is so important to learn how to ride the roller coaster. If times are slow, find ways to make your time useful.
Below is a short list of things that have helped me during the slow times:
- TRAIN: This is a great time to train your staff or yourself. Use local resources such as the SBA or VEDC.
- ORGANIZE: Do some housecleaning… streamline operations, update your software, review vendor relationships and pricing, set up recycling programs, etc.
- NETWORK: Facetime is key, go to local association meetings (local Chamber of Commerce, SBA, etc.), networking events (Conventions, Seminars, etc), use social media (Linkedin, Facebook, Twitter, etc.).
- NURTURE CUSTOMERS: Reach out to your current customers through surveys, reward programs, referral programs, email blast. Keep them happy.
- VOLUNTEER: Volunteer your and your teams time to charity. Great time to give back to the community. Trust me…you will receive more than what you will give. It will create a different relationship with your staff and you will feel all warm inside.