5 Tips for Small Business Owners to Focus on!

Many small business owners fall into the trap of trying to “do it all,” getting so busy that they lose sight of long-term goals, a cycle that threatens to result in a failing business.
8 out of 10 small businesses fail within the first 18 months. To stay in the 20 percent of surviving businesses, read these five tips for small business owners to focus on what’s important:
1. Build a Support Network
Business owner can be an isolating experience at times. Especially if you're a solo business owner, you can lose touch with other business owners.
The crucial solution has been to stay networked in the business community. That means meeting with other business owners once or twice per month. Online network at times helps too, you may also try networks on Facebook and Linkedin from the comfort of your own home or office. 
Photos by cloudproductions.sg

2. Be Very Specific & Find Your Best Niche--Stick With It
Feel like you need to be all things to all clients? Maybe diversifying isn't always the best strategy. Sometimes, it's good to replicate the magic if you have something that works really well. 
Finding your niche and continually innovating around that niche is a path to success.

Every employee at any companies have their own target and goals on their progress at work. It helps keep everyone focused. Same goes to business owners, we have to set our niche and goals in your business as much as possible. 
3. Keep Your Overhead Low
Lowering the overhead in your company is a good practice, spend on the necessary. "When things turn bad, you don't have to panic, because you can take a cut in revenue. Even in the brunt of the recession, you'll be alright." Cutting down overhead really gives you that peace of mind. If your overhead is low, you can make pricing decisions that you otherwise wouldn't be able to make."
wo and a half weeks later I was on the Oprah Winfrey Show," Blakely says.

4. Select your tools

We are a technology-driven world, and there are many tools to choose from. Find a millennial in your office and tell them about what time management you are struggling with. Choose a calendar, task, alert, notification, or alarm app, and stick to your schedule. Your phone can be the greatest tool you have at your disposal to keep you in line, so use it to its full potential. Beyond your phone, there are many wearable pieces of technology that will help in your time management needs. Some of the most basic devices you can set to vibrate each hour to remind you to get up, not let a meeting go over, or just help you keep track of the day.

5. Go home

As a small business owner, you have a task list that will never end.  You need time off in order to maintain balance and stay energized about what you are doing in the office. Yes, some days/weeks you will stay late and barely get sleep, but knowing this is not sustainable is important for your overall health and, in turn, the health of your business.
While no one can completely remove the things that can derail their day, using these five tips will help you have more time and energy for the long-term planning your business needs to thrive. You can now plan for that company expansion, find out what aspect is working for you, or get ahead of your slow season with more marketing. Now that you have the time, all you need are some funds to get started.


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