As your business grows, you’ll notice yourself grow with it. Your attitude to the business world will change, as well as your attitude on how to run a business. In the beginning you will go through so many highs and lows, that’ll shape you into the boss you are today. Owning a business will bring you so much happiness and sense of achievement, it’s important to recognise how you’ve changed, and make sure it’s for the better to help aid your business.
Patience is one thing you may have liked to think you had a lot of in the beginning. But in reality, there would have been a lot of short tempered phone calls, not only to customers, but possibly family members as well. As your business grows you’ll have noticed you’ve learnt to deal with any stressful situations for the best possible outcome. Most of the time, having a short temper can leading to unwanted decisions being made, business being lossed, or if it’s at home it can damage relationships with your partner.
Although you’ll most likely have an accountant doing your bookkeeping for you, it’ll be up to you to monitor your profits and losses, to see where you’re going wrong in terms of sales and marketing. In the beginning this will all seem like jargon to you. But as you grow you’ll come to learn exactly what makes your business tick. You’ll learn what it takes to give your employees a boost of moral to up those sales. You will also grow to learn staying humble when you are making losses is key. Some people may want to give up when things begin to go pear shaped, but it’s important to find the source of the problem, address it, and come out on top.
One huge thing you’ll have come to understand is the legalities of running a business. Whether it be issues with customers and the lawsuits that can be put against you if you’re unethical towards them. But also with employee’s. There are so many things to consider such as safety, fair pay, fair treatment and fair working conditions that needs to be considered before hiring a team of people. This also applies if you’re hiring freelancers, some form of contract needs to be given to cover you back if injury occurs, or any legal employment disputes. In some cases, you would have also had to learn what’s required when sorting a contract between you and a customer. This is especially evident in the world of construction. Nothing can be completed with assessments and contracts being pulled up, which is normally left to construction dispute solicitors. But a lot of people do like to draw up the contracts themselves so a few people as possible are involved with their business.
As you can, you have to learn so many new skills, and learn from so many mistakes to get to the stage of being a successful business owner. It’s never easy, and it’s not always a happy experience, but the skills you learn will stay with you for life.