How many small business owners have flamed out because they couldn’t wait for success? I can’t give you an exact count, having neither the necessary math skills nor the time-hopping ability of 1990′s Scott Bakula, but I’d heavily wager on it being a very large number indeed. Small business success is not easy to achieve.
So the first thing you must do is learn patience, BizEngine-reading grasshopper. You want to be aggressive and in motion, of course, and try to avoid letting opportunities make a whoosh sound as they blow by you. But expecting overwhelming success overnight is just plain foolish.
Patience is something most of us have to learn. It’s difficult to scrape by for a couple of years or more barely making a profit, but it’s by far the likeliest outcome for your average small business owner. Gambling everything for a shot at higher earnings can backfire badly, costing you a small business that could have lasted a long while.
When To Practice Patience
- With employees. If your small business is fairly new and your employees are too, you can’t expect them to be dynamic, game-changing dynamos of swirling dynamism right off the bat. Instead, nurture them with an eye toward the future.
- With revenue. It’s inevitable that starting out, you’ll be making a bit less as customers discover you. Even when you’re established, don’t count on 24/7/365 boom times. It just doesn’t happen.
- With your marketing. Build thoughtfully and carefully using print advertising, SEO, word-of-mouth campaigns and specials. The end result will be sustainable buzz around your company and its products, and a solid foundation of online good will.
- With your overarching plan. This is an important one. You cannot create an online sales hub for alpaca luggage and expect to be raking in $100 million within two years. Having grandiose expectations will lead to you taking risk, cutting corners and asking employees to do things that are, to put it delicately, completely impossible. It’s a quick path to failure. Instead, look to make gains every year until AlpacaSuitcase.com takes off at last.
How do you practice patience at your small business?