Small companies, entrepreneurs, and solo-preneurs all have something in common. These businesses are responsible for the majority of economic growth world-wide. We may be small, but we are nimble, creative, and usually passionate about our work. We consistently offer unique solutions to our customers. Being a small company or a micro-business is where the action is!
The funding base for small businesses and entrepreneurs is vastly different, too. Most of us began our businesses with our own money, credit card debt, or family investors. And this is where the problem often begins. To compete successfully, your small business has to look, feel, and smell every bit as competent and good as the bigger guys. If you are a coach, for instance, your business must have the look and feel of a small, successful consulting shop. If you are a home-based home loan officer, you must be able to come off as professional and competent as the bigger dogs.
One big mistake I see smaller businesses do over and over again is refusing to invest in themselves. You can have a wonderful, creative, fun, and financially lucrative business. But you cannot do it with no investment base. There is no such thing as starting a business that will be successful and refusing to consistently invest in it! Give yourself this quick quiz and see how you score: o My basic business materials (cards, brochures) are professionally designed and produced. o I have a thought-out marketing plan (on paper) that focuses on finding my target market on a regular basis and I follow through. o I am willing to invest in technology (a good computer, a customer relationship contact system). o I have a website and I have studied the best ways to make my website interesting and interactive to customers. o I give my website a slightly different look at least once a month. o I invest in myself, going off to retreats and to learn new skills that I can then offer my customers or clients. o I invest my time consistently, knowing that my small business will not grow if it is always "last on the list." o The money to run my business is set aside and cannot be "lost" to household issues.
The bottom line is that the way you hold yourself, believe in yourself, and invest in yourself says a lot about how serious you are about your business. Ask yourself "Why would I expect a customer to invest in me when I won't invest in myself?" If you feel unworthy to indulge in something new and different then you can hardly expect your customers to indulge in something new and different - like doing business with you!
Investing in you doesn't just improve your confidence and skills. Your investment also creates a forward, positive energy that others will see, feel, and respond to. If you've stepped outside of your comfort zone and tried something new, you will be a model to the very people you are marketing to. You become memorable. You become admirable. You become investable! Your customers will WANT that energy, and be more likely to spend money with you.
Invest in yourself, believe in yourself, and be willing to learn, grow, and change. These are the key components to success. You can "shoestring" a small business - but you can't do it with nothing but thin air and wishful thinking. Use your money and time wisely, and show your customers how to do the same. That is a key to business success.
© Sue Painter
