No one can be as passionate about your business as you. See every help from your staff as a privilege and not a right. e.g. your staff will not see the urgency in your business more than you will. Ensure that you have a project or asset (not liabilities) that you are financing per time or else, it will be difficult to account for the money at your disposal.
“Entity concept” – your business has a life of its own, separate your business from yourself. E.g, have a particular amount you pay to yourself as salary per period. Be prudent enough not to overpay yourself from the business account. Also, don’t discount your health for money. You may not be able to buy back your health at a cost when you don’t take care of it. Understand that the value of your business is dependent on your health. You need to be healthy for the company to grow. Give yourself rest at the right time to avoid a breakdown.
It’s also better to stay alone than to go into a wrong business partnership. It can be an unequal yoke that will drag you down to the dirt and frustrate your business chances. Pinpoint the number of years the partnership will be for, it doesn’t have to be indefinite. You can always renew the partnership when it’s working.
Take a break, go on a holiday when you are tired. Your best performing staff are your greatest assets. Invest in them, spend time with them. Learn to make a U-turn when you make mistakes in business. Don’t get fixated or spend time complaining without making a turn-around. No staff exit should ground your business. Get one staff to understudy another. Don’t hire anyone you cannot fire.
Raise a performing team and not a performing individual. No single person is or should be bigger than the business. Which of these business nuggets speak to you? Comment below and have a great #MondayMarket