Бизнес и финансы

How to Start a Small Business That Thrives (From the Ground Up)

Author: Deb Knobelman / Source: Lifehack

For most of us, it starts with an idea.

The idea can either be to break free from the corporate world. Be our own boss. Stop feeling like a cog in a machine and actually make a difference.

Or it can be more specific. Build the first or the best widget in the world.

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Because I’ve used every other widget out there and they are all lacking in a specific way.

The idea is to start a small business. To build something brand new. Brick by brick.

I have worked with dozens and dozens of small businesses and startups over the years. I’ve seen the good, the bad, and the ugly. I’ve seen companies go public at valuations of more than $200M, and others crumble under the weight of their own mistakes.

So if you have an idea, the spark is there but then your heart skips a beat, and you think to yourself: How exactly do I start?

To avoid some of the missteps that others have made, to build a business that thrives; here’s how to start a small business that thrives from the ground up:

1. Know Your Why

Simon Sinek has one of the most popular Ted Talks of all time, and a best selling book as well, called Start With Why. In it, he talks about how important it is to know why you are motivated to do what you do; and that why shouldn’t include “to make a million dollars” or “make my mother proud.”

It is about understanding the way you want to make an impact on the world. And it’s different, and personal, to each person.

I have found that having a solid foundation on why you want to start a small business makes all the difference. When things get rough (and they will get rough), you can return to this fundamental understanding and as a reminder of why you want to keep moving forward. As Sinek says:

Working hard for something we don’t care about is called stress; working hard for something we love is called passion.

So ask yourself, how do I start a small business that aligns with my Why?

2. Be A Consumate Learner

The most successful Founders and CEO that I’ve met are constantly asking questions. They are confident in what they know but are aware that they can always learn more. This can come up in a few key ways:

Before you even start your business, research your market.

Then research some more. Never think that you already know everything about people who buy widgets or all the other widgets on the market.

Ask questions. Then ask some more. Find people smarter than you or have way more experience, and listen to what they tell you.

Acknowledge that you don’t know everything. This is another critical piece to running a successful business.

I have seen it so many times. A Founder asks to “pick the brain” of someone else who has gone before. They hire a brilliant person to be part of the team — an expert in marketing or finance, and then disregard what they say or tell them what to do instead of asking them the best way to do it.

The CEO is missing a critical opportunity by not leveraging the team members/ expertise and not acknowledging that this team member has a lot to teach the CEO. It’s disempowering to the team member too.