Saturday, August 15, 2009

Where Does It End?

Sitting here remembering the hard early days of my company I am faced with the realization that I made it. I built something out of nothing and of that I am extremely proud. However those same thoughts also produce the question Is this as far as I want to go?

From the early days of banging on doors, looking for clients, and very often getting those same doors slammed in my face to having a city on lock down to the point that very little gets done there that involves my line of work that my company name isn't attached to. Many would say that I am successful and in some aspects they would be correct. Me , I look at all I have built, I see it for what it is. It is an every expanding empire with very humble beginnings. I can now rest on my laurels and be satisfied with it or I can choose to view it as just the beginning. I choose the latter.

Yesterday is gone never to return so I while I have celebrated yesterdays success I will not quit pushing forward. Where this ends I don't know but I do know that where there is determination and a dream, anything is possible and we are only limited in what we can do by our own minds.

Eminem-Welcome To Detroit City

Wednesday, August 12, 2009

Small Business Cents

There are so many things to consider when starting a business that it can often get scary. Many people will never get past the idea stage because they allow this fear to freeze them in place. Many others will leap before looking and fall flat on their faces. How do you know when to be cautious and when to push forward?

There is no one answer that fits every business idea. What works in Podunk,Arkansas may not work in Los Angelas so my suggestion would be to really pay attention to your research about what sells well where you intend to place your business. What does that area need? While proper research will not remove all risk associated with opening a small business of any type, it can reduce risk drastically.

You must also be realistic with your expectations at the start. Owning your own business can be the hardest yet most rewarding thing you ever undertake as long as you are not expecting overnight wealth. Work first on developing a good reputation in your community by delivering a quality product at a fair price. Slow and steady wins the race.

Cashflow is key! You must be prepared at the start of your business to have to struggle. This preperation can come simply by paying very close attention to what you are spending each month on business expenses as well as what profit you are seeing return to the business. Reinvestment of funds to help the business grow can often be the difference in whether or not a business becomes more than just a job you have created for yourself. If you pay attention to the math you may be able to sidestep small obstacles before they become huge problems.

Each businessmans goal should be to expand and grow their business to the point of it becoming an asset capable of supplying the owner with passive income. It's not always easy nor is it as hard as some would have you believe. A little self discipline can go a long way.

At the end of the day, your businesses success or failure, like any relationship, depend on nothing more that what you did that day to protect and nurture it's growth.