One Small Business Conundrum

One Small Business Conundrum

 

Those who know say a business has to grow if it is to survive. There may be some exceptions but I want to focus on the proposition of growth as a way to go.

I was fortunate to have been invited into a new business as a person “Friday”. I did whatever was needed from sweeping the floors to answering phones to stocking to testing electronics. Being a card carrying English major I was happy to have the second job. My main work at the time was in Public Relations. The new electronic business was started by a very bright Stanford graduate who knew his way around Silicon Valley just as it was becoming Silicon Valley. Anyway, the team assembled worked well together and sooner than I had expected I was helping in sales and then managing sales. The business was growing mostly in spite of itself just because we were in the right place at the right time with the right services—electronic recycling and distribution.

Three of the that companies’ main players (myself and two others) decided we could go start our own company because the owner was getting more insane each week. And so we did leave and managed to catch some of the same good timing of the markets.

Like most business cycles we had to weather the ups and downs of the electronic industry boom and bust juggernaut. But mostly we grew the company because: 1. We recognized that we needed help, 2. We didn’t want to continue to work 80 plus hour weeks. 3. We could share the wealth and work less, that is, we had a budget that would support hiring support staff.

That was many years ago and I have had the opportunity to start other businesses…smaller businesses mostly and learn that good ideas do not always equal success. Timing and teamwork are more important than ever.

As a small business you need to have a vision of where you want the business to go but perhaps even more important you must know 1. That there is a market for what you want to offer, 2. That you know who will buy and how much they will pay for your offer. 3. And that you must know you will not get there alone…you will need help and you will need to budget for that help.

To grow the service or product you offer must have a future…there must be evolution inherent in your plan to survive. Evolution is the natural order of life. Chaos happens but eventually order comes out on top. So consider the long view when considering your business plan.

Take a look around, notice who has survived the longest in your niche. Notice what they have done well. Some lessons can be learned without spending money. Ultimately you will spend money to make money, so do so wisely by getting help before you need it.

Keep on keeping on…