Over the last weekend, I got to read Profit First, the newest book from Mike Michalowicz. As I read, I thought of one client after another who could benefit from implementing Profit First in his or her business. In talking to business owners day in and day out about the challenges they face in their business, I hear a lot of the same challenges coming up over and over. Many of these challenges relate to managing finances in the business.
During my years of working directly with small businesses, talking with entrepreneurs day in and day out, speaking in forums and seminars, joining small business and entrepreneurs associations, etc., I have noticed three factors that make any small business thrive. Contrary to what you might believe, it has nothing to do with the academic or business background of the owner. It has also nothing to do with the type of industry or geographical location the business is in. Most of the time it has nothing to with the quality of your product or service.
In business, sometimes it pays to be a rule breaker. Not a law breaker – there’s a difference – but a rule breaker, someone who is not afraid to buck the trends, try something new, disrupt a market. Rule breaking companies are the innovators, the businesses that bring us great new things that enrich our lives.
Picture this: it’s late at night, and you’re working to finish up a presentation that’s due tomorrow. You’re exhausted and you know you’re not doing your best work, but it can’t be helped. You have to just get it done. Can you feel the stress?