Business, Money, and Finance Discussion Blog

This is a shift in perception that enables the business to grow without being so dependent on the one person. If you are happy to build your business to a size that is manageable by one person and you have the ability to say no to customers, your business doesn’t need to be bigger than one person. But if you have aspirations of building and one day selling your business, it is a really good idea to make it bigger than one person as soon as you can. So how do you make your business bigger than one person? Think about the name of the business. read more »

Bill Smith ends up working more and more hours to meet his customers’ expectations. He has no time to focus on the running of his business or his life outside of the business and slowly his world starts to fall apart. Bill Smith ends up burnt out and exhausted. His business is in a mess and his customers leave in droves. read more »

Most businesses have a product champion, key person, hero or some other similar kind of person. This simply means that one person is driving the machine and it’s their passion that propels the business forward. In the early stages of a business this is very normal and a natural starting point. That is why there are so many people running their own small business. But for a business to grow and have longevity it really needs to be bigger than one person. read more »

We buy a lot of stationery and I have been dealing with this same small business for many years. I could probably get my supplies cheaper elsewhere but in this case my relationship is more valuable. They offer exceptional service and I am prepared to pay for that. I have competing stationery suppliers calling my office every other day trying to get my business but it would take a lot more than cheaper prices to move my business away from my existing supplier. I believe this is an important point to pass on to your staff. Often people get a little crazed when they are promoted or are new to a position. read more »

While I am advocating the importance of building relationships there needs to be very clear boundaries established. In most business relationships there should be limits on what information you pass on or talk about as there is always the possibility the person you are talking to is going to walk out of your business and into your competitors’ and tell them everything. read more »