Tuesday, April 29, 2008

Small Business Success

Seth Godin writes about three things you need for small business success:
The ability to abandon a plan
The confidence to do the right thing
The belief in other people

I would have to add two more to the list:
Vision
The ability to dream

Vision in Small Business

From my experience, in order to succeed in business, you have to have some sort of vision. It doesn’t matter whether you are the stock room clerk or the president of a company, as long as you can make an impact on your surroundings you will effect the company in some way.

All the time you hear stories about the part time cook who ended up the head chef, or the bagger at the grocery store who turned into the district manager. I can guarantee one thing - they wouldn’t have got there if they didn’t have some sort of vision!

The Power of Dreams

Dreaming is another thing that I think small business successes stem from. I am a firm believer in self-fulfilling prophecy. Self fulfilling prophecy is when you think something will happen, so it ends up happening.

Self fulfilling prophecy is a whole blog post in itself, but i will get into it a bit. Let’s say I want a Corvette. That Corvette is going to cost me $800 a month, but my budget only allows for $300 a month. If I believe that I will be sitting behind the wheel of the sports car in six months, then I will make all the decisions possible to get there. I might forgo eating lunch out everyday, or I could cut out my subscriptions to HBO and World of Warcraft. In essence, I will do everything I can to get that Corvette.

So when a small business person dreams of doing $600,000 in revenue out of their little boutique shop, they will make the choices necessary to get there. Through marketing, inventory, employees… Their dreams slowly become a reality.

Dreams and Visions

There really isn’t much difference between dreams and vision. In fact, we might be able list them together. But I wanted to make the point that you might have all the business sense in the world, but if you don’t dream or think big thoughts, you won’t be going anywhere - fast.


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