“I’ve got a business for sale. One verified, certified, legitimized business for sale. This is a can’t miss opportunity. Once in a lifetime. Once in two lifetimes. Never going to see a chance like this again. Forget that franchise. Drop the new business ideas. This is the business opportunity for you.” So now that you have one of the best companies in Grand Rapids, MI what do you do?
Developing a new business idea or buying a business opportunity is the easy part. While it can be stressful, overwhelming and seem like it might never come together, this is only a relatively small part of the process of being a business owner. What you do after determines the success or failure of your business venture. I am often asked “what is the best advice for a business?” Is there a secret to the business plan or special small business grant or something to business management?
Business plans are great. But there is no magic to them. There are a bunch of business plan templates that you can use for free. There are even free classes online that will help guide you through the process of developing your business plan. At the end of the day though, your business plan is only as good as those executing the plan.
Small businesses need funding. There are rules of thumb that experts will throw out. You need to have funds to operate for 6 months before you can open. 12 months. You need to get a business loan that allows you to incur 24 months of losses in order to survive. I am sure that there are plenty of businesses that have found success finding the right funding. At the same time there are plenty of businesses that have found success running as lean as possible and bootstrapping everything.
Business management books and gurus are everywhere. You can’t go on social media or into a book store without being inundated with different messages. “Write down your goals.” “Just start doing.” “Follow your passion.” And so on. If you are sadistic enough, go and read the biographies of some of the most successful business people in US history. While you might find some similarities between them, there is no secret to how they managed their businesses.
In the end the best advice I can give your business is always keep improving. Put better people around you that are going to be better in the future. Always keep learning and expanding your mind. Keep your business hungry and improving. If you hit a wall or are met with failure, keep moving forward. Be unstoppable.
Keeping that spirit of entrepreneurship and innovation in your business means that your business will never be stuck standing still or going backwards. Your business plan will be better today than it was yesterday. Your funding, if needed, will be put to good use and not just trying to survive. You will constantly be widening your vision and understanding of business based on others experience. The business world is filled with more success stories than there are rules. Make your own rules by continuing to grow.
Keep hustling. Keep asking for help. Keep improving.