No matter the size of your business or the goals that you have in mind, it is not easy to build a dream. When I look back at the evolution of my own business I can point to 5 pivotal factors that were – and are- invaluable in building our organization:

Check your pride at the door

You’ve likely heard the adage “never be the smartest person in the room”. This is a rule that I absolutely live by. I like to think of my brain as a highly absorbent sponge; gleaning every tiny tidbit of information that I can locate. Even on topics where I may actually have thorough knowledge and years of experience my sponge soaks up everything it can in search of that one potential take-away that may turn into our next big breakthrough. For example, every week I like to watch industry webinars or check in with industry forums to stay as informed as possible. Many times discussions cover ground I’ve traveled long, long ago. Nearly every day I can find a kernel, look at a problem from a new perspective, and simply learn something new. Grandpa use to say “Even a blind pig can find an acorn every once in a while”.

Self Reflection

I don’t know about you, but I am not perfect. There is nothing about operating a business that is not impacted your personal challenges. Understanding your personal challenges and how they relate to how you think, behave, react, learn – is the secret sauce of success. I cannot think of one successful entrepreneur that I’ve studied that hasn’t examined ” how they tick”. In fact that very self reflection is often the core of what business leaders write about and we seem to clamor for it. Identify your key roadblocks and find a path around them.

Two rock climbers teamwork

Support & Mentorship

There is nothing you cannot achieve in this world without guidance and support. For me personally I can tell you that there was a time in my life where this was absent and a time in my life where this has become present….there is no comparison. My life (and business) knows no bounds short of getting in my own way! That’s where support comes into the game. Setting your pride aside and honestly reflecting on one-self and business with the support and mentor-ship of Coaches, Consultants, friends and loved ones will help you create beyond what you dreamed is possible. This is why it has been so very important to myself and my team to transition far beyond the traditional bookkeeping service into Business Management & Advisory support.

Hire People Smarter Than You

It takes a lot of confidence to hire someone or build an entire team of people smarter than you but it is so important to the success of your business. Hiring smart people shows you are committed to the vision and mission of your company. Intelligent employees will allow you to solve problems you otherwise wouldn’t be able to do on your own. Most importantly, imagine what you can learn from this person. 

A Little of Something is Better Than Nothing

Perfection is the enemy of goals. Many people get hung up on creating something that’s 100% perfect and fail to ship their creation. While you don’t need to accept mediocrity, excellence does not require perfectionism. This can lead to failure to launch, high amounts of stress on your body, precious time and resources wasted, and dry creativity. Instead, try something to your best ability (but not 100%) perfection and run tests to see if your idea gains traction. If it doesn’t, fail quickly. If it is successful, double down. 

Female entrepreneur working on her laptop

Never Be Complacent in Your Success

Complacency is the silent business killer and it affects small businesses and large corporations. While you should celebrate your successes, being complacent leads to stagnation. Stay on top of your industry trends, technology, and competition. The world is always changing. Be dynamic and be willing to change with it. Be prepared for the worst case scenario, even in times of success.  Always, be thinking ahead and be better tomorrow. 

Entrepreneurs flourish when the walls come down. While there are many other more practical factors in building your dream, incorporating these 5 today and in the future will keep you on the right path. 

We know small business and we have been working with people like you since 2006. Schedule a free accounting consultation.  

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