Of course as you mature as a business owner you come to understand that it is not access to new ideas that will make a difference in your business admin
, it is your ability to implement those ideas and drive change that will determine how successful you will be.
In my professional experience as a business coach I have observed time and again that the most successful business owners are those that can embrace the need for change and find a way to motivate and empower their staff to drive the business improvement process.
If you and your team are not really dissatisfied with your current position, why would you commit to a change strategy? Why change something if it isn’t broken? If you can live with the current position, or have lived with it for a number of years and the sky has not yet fallen in, there is no perceived need to adopt a different way of doing things– even if you understand that a change may lead to better results.
The trick then is to understand just how dissatisfied you and your team are in relation to a specific business process or financial outcome. If the drive to get to a better place is not strong enough, you either need to find a way to increase the level of dissatisfaction or accept that change will not occur and move on to another business issue
Given the poor capital markets that small businesses face these days with banks not lending to small business let alone to startups, over 90% of all new businesses have to get their companies up and running without any type of outside financial help at all.
All businesses are limited in the amount of resources they have to run and grow their companies. Thus, in order to survive and expand, they have to get the most out of the resources (cash, capital, equipment, property, labor, etc) they do have.
Therefore, those businesses that do succeed in starting up their companies without business loans do so by finding a way to make what they need happen. For example, a business that has no money or staff (limited resources) to kick off a marketing campaign but is still able to drive customers to the business by using free resources like social media, word of mouth marketing and referral programs. Or, the new bakery business that can’t afford a kitchen or kitchen equipment but grew the business by using other restaurant’s stoves and ovens after hours and providing them a percentage of revenue earned in exchange.
While getting a business loan or millions in venture capital will surely make your business life easier, having those resources is not a key element for success. What is is the ability to find a way – any way – to start and grow your business regardless of what you have on hand.
The first thing to understand is that all businesses are unique and thus all have to find their own unique ways to overcome their particular obstacles. To that point, we tried to generalize these 3 simply ways to startup a new business as a means of not providing a concert road map to your individual business success but as a means to demonstrate what can be done and then let you take the ball from there and apply it to your own situation.