Do you stick with it? Do you grow it? Do you sell it? In my mind, those are the three ob-
vious options. You have to decide what's best for you and your business. There are many
schools of thought that drive this type of decision making for business owners and oper-
ators. Many of your trusted advisors will have their personal opinions, and they will share
them. Again, you have to decide what's best for you and your business.
From my personal experiences, I have learned that I must weigh my options and take the
time to consider the consequences of each choice. Not only is my business my livelihood,
and that of my family, but I have to consider my employees as well. No two businesses are
alike and therefore no two situations can be handled the same. Making rash decisions has
never served me well. I have to think about tomorrow and long term. So often unforeseen
problems, expenses, and profits creep out of nowhere. Having taken the time to anticipate
as many of these unknown factors as possible has served me, and my business, well.
Take it from me. Starting and running your own business is tough but also very rewarding.
The three questions above will be a part of your daily life for as long as you own your own
business, just like checking your bank accounts and “numbers.” Don't allow yourself to
get burned out. Don't allow yourself to fall into a negative frame of mind when managing
people and money. Take each day one step at a time. Watch the competition, research your
options, rationally problem-solve through the trials, and enjoy the success. You will find
that the feelings of pride and accomplishment were worth all of the blood, sweat, and tears.
I wish you the very best!
Status Quo: Is It for You?
There will be a time when you can sit back and say that you've gotten things under control.
This is a great feeling, but as an entrepreneur you're wired with success in mind and growth
may be inevitable.There's nothing wrong with a consistent business. When you find that
balance, the fact of the matter is that once your initial growth trend stops—which may take
years—you'll find that leveling off and reaching consistent sales numbers each month is
when you'll really start to make some profits. It's an interesting dynamic that I didn't un-
derstand until I saw it within my own company.
Your goal in the business world and as an owner/operator may be that you'll work the busi-
ness, hopefully with the help of your future employees, until you are ready to retire. This is
a healthy way of thinking as most of us will work until retirement age, and “striking gold”