Earlier this year, James Stephenson produced a list of 25 common characteristics of successful entrepreneurs. We’ve seen entrepreneurs work hard to get great at all of these and know what a big impact there can be with advisors, coaches, consultants, and experts available to support you and your business. Here are four important areas highlighted by Stephenson in which all business owners can continue to develop and grow.
1. Plan everything
When was the last time your brushed off your business plan? Starting the new year with a business plan review can only set you up for success in 2015. Our business advising team can help, as well as our partners at Pacific Community Ventures (all free for OBDC borrowers!).
2. Manage money wisely
Evaluating your projections, creating your monthly and quarterly financials, and managing cash flow (the money coming in and out of the business) is critical to survive the lean months and get the most bang for your buck. Managing the business finances is not always the fun part of business ownership, so let us help you do some of the heavy lifting so you can stay on track.
3. Invest in yourself
You are the most important asset to your business. By taking time to network, to stay on top of industry trends, and to seek advice and support, you position yourself to be the best “you” for your business.
4. Sell benefits
Not sure what benefits your business can offer your customers? That’s what your advisors are for! This is a great topic for a consulting session, and having a fresh pair of eyes on your ideas can enhance what you have already been doing for your business.
OBDC is here to help. Both our team and our partners at Pacific Community Ventures want to offer consulting and advising to your business. It’s easy to schedule, and for an hour of your time you get so much more back for your business.
Let us know what makes you successful in business by tweeting @obdc_finance.