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Being a small business owner is a lonely business

12 Nov

Being a small business owner is a lonely business

  • Posted by tonyw

Sometimes you need to make important decisions. Decisions that must be made by you alone without debate or redress to others. Decisions that can affect the amount, type and nature of work your business does. And this can easily impact the lives of the people who work for you or with you – not to mention you personally or your own family.

At these times making such decisions can feel intensely difficult. You can look at it this way and that, but the chances are you are too close to the issue to be objective and dispassionate. And yet only you, the small business owner, can make that choice.

It makes sense first of all to ask yourself “is this in line with where I always wanted the business to go?” This is important, because if you have a vision for your firm and it’s still your vision, then make sure the decision doesn’t conflict. If it does, you’re probably making the wrong decision.

Naturally thinking the issue through is vital so you can be confident you won’t be a victim of the law of unintended consequences. This takes time – quality thinking time – time you rarely seem to have in the course of the working week. There’s the impact on sales, revenue and cash flow for sure, but also potentially on staff, customers and suppliers. And still the pressure builds.

The best solution is to discuss the issue and choices as you see them with someone who is familiar with your business sector and whose judgement you respect. Sometimes just talking the topic through with an external and arms-length individual can help you see ‘the wood from the trees’.

Business mentors provide this sounding-board service. Their experience and objectivity is just what’s required for making a balanced and sound decision. In the end, you will feel so much better for making that choice

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