5 Things I’ve Learned About Owning a Business

I’ve been around the block a few times, in fact my career spans almost 50-years; much of that either managing other people’s companies, or my own, and there are a few things that are written in stone.

  1. Just because you persevere, doesn’t mean you’ll succeed no matter what your mom tells you, or what clever cliché that attitude poster on the wall preaches. Don’t throw good money after bad, if it’s not working try to fix and if that doesn’t work go fish somewhere else.
  2. The honest guy doesn’t always win. I know that sounds awful, but be realistic. How many really nice businesspeople do you know out there? Even though I’ve come across some very nice people in business, some akin to saints, they have this underlying selfishness when it comes to their business. And so they should – your business is not a charity!
  3. You have to be lucky – at least to a point. I don’t know about you but I know several successful businesspeople who I’d never employ! And yet they’re successful. I even know one whose closest confidants tell me they keep him as far away from running the business as possible. Not sure how to solve this if you’re simply not lucky – perhaps hire someone who is?
  4. If you can’t sell, or are unwilling to, I’m tempted to say close your business. Zig Ziegler, the greatest sales guru of all, once said there is only one activity in a business that contributes to profit and that’s selling, everything else contributes to cost. You will always be the best person to sell for your business, period!
  5. Class counts – now, I don’t mean you’re doomed if you are a little rough around the edges, it’s just that success relies to a great extent on you being a socialite. John Naisbitt, in his book Megatrends stated that 100 people run a town no matter its size and that to be successful you need to know as many of them as possible. It is an immutable truth that you need people to recognize you as a community leader and successful businessperson. Part of the solution not the problem.

Like to read more about my five immutable truths? My full article can be found at: https://goo.gl/gp747g