How to Run a Small Business

So you started a business…now comes the challenge of actually managing the business and the employees – what are the critical things you should focus on? Well, here are some thoughts from other successful business owners.

Looking for advice on how to run a successful small business?

Certain advice may depend on what type of business you are running. Managing a small coffee shop will require a different strategy for drumming up business and managing employees than what it takes to run a successful small accounting firm. But there are some principles that typically ring true for all businesses across industries and business types. You want to reward employees for hard work and encourage effective communication among staff. You also want to hold employees accountable if they are not meeting expectations.

With experience comes wisdom. While no two businesses are the same, we spoke to some experienced small business managers who had their own words of wisdom on how to run a successful small business.

Mary advises …take a step back from time to time.

Take the time at least once per year, or better quarterly, to get off-site with your top team even if that means just you taking a strategic look at your company. Review pricing, marketing, and sales goals. Check the internal and external factors that could affect the business in the next year. If you don’t do this, the day-to-day business can blind you to things that can harm your business. It also gives you direction to take for the following year.
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– Mary Cochran

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