Many of us business owners devote endless hours trying to come up with the next big thing. That's not necessarily a bad exercise, but sometimes we need to give our brains a rest. I'm a realist though, and I realize it's hard for entrepreneurs to shut their minds down entirely, even for a short time.
So instead of thinking big all the time, maybe you should take a break and think small. Understand that small does not equal trivial; sometimes the smallest change can have a huge positive impact. Here are 9 little things you can do to advance your business without breaking a sweat.
1. Just say no. I hate to lead with a negative, but I know how hard it is for business owners to turn away business, especially when the economy is in slow recovery. However, some clients are not worth having. Before you take on a new client or renew an existing contract, do a quick ROI to make sure it's all worth it.
2. Stop worrying so much. I am not a worrier (though I sure know a lot of them). Worrying just saps your energy and diverts your brain from thinking about really critical things. So don't worry, be happy!
3. Don't hesitate. What are you waiting for? Being flexible is still an advantage small businesses have over the big guys. I am not saying you should blindly leap into new situations, but you should heed the words of George S. Patton who said, "Opportunities do not come to those who wait. They are captured by those who attack."
4. Seize control. This is possibly the reason many of you became entrepreneurs -- it certainly was a motivating factor for me. I truly believe you will not succeed unless and until you take charge of your life. However, and I believe I've said this before but it bears repeating: Don't try to control the uncontrollable. It's an impossible and frustrating task.
5. Give back. In last week's interview with JJ Ramberg, I discussed how you can do well by doing good. You don't need to make grand gestures or donate thousands of dollars. All of us can help make a difference. Participate in community events. Donate something of value to a fund-raiser. Volunteer. Teach a class. Just do something.
6. Be innovative. Most of us know small businesses drive innovation in this country. And yet many business owners are intimidated by the "I" word. Innovation is relative. It can range from the truly inventive to the more mundane (but highly effective) aspects of business ownership. Any business can be innovative. Restaurants can add "different" food to their menus, retailers can open new channels of distribution. All of us can change our marketing strategies. As one of the greatest innovators of our time, Apple's Steve Jobs says, "Innovation is what distinguishes a leader from a follower."
7. Give customers what they want. Remember, even as the economic recovery gathers strength, consumer behavior has changed. Consumers are (and likely will continue to be) looking for value when they shop. And they're expecting the companies they do business with to offer coupons and promotions to not only draw them in, but to keep them coming back. In fact, a new poll from ShopSmart magazine reports 91 percent of women shoppers use coupons to get a better deal.
8. Take inventory. I'm not talking about conducting a physical inventory. Rather, we should all do a top-to-bottom assessment of our businesses. The key is to be keenly aware of what's going on so we can quickly move in a new direction if we need to. Markets have changed. Consumers are looking for new products and demanding new services. Start by asking yourself these questions:
· What am I doing right?
· What am I doing wrong?
· How can I deliver more value?
· How has my market changed?
· What will I need to change in order to meet future consumer demand?
9. Speak up. Not just because the squeaky wheel gets the grease, though that is certainly true. If you don't ask, you won't get. But more important -- and this is one of my favorite quotes -- as Eldridge Cleaver once said, "If you're not part of the solution, you're part of the problem."
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