Managing The Balancing Act
There are three major parts of a business:
- Back Office
- Marketing
- Money
The Back Office is where the paperwork, accounting, legal, and organizational stuff is. It's where the checkbook sits next to the spreadsheet of Income vs. Expenses. Honestly, it's where the rules of business are in place and cannot be broken (unless I want legal problems, IRS problems, cash flow problems).
Marketing is about connecting and communicating. It's where I attempt to connect with my current and future customers and engage them while getting them on board with my vision for the business. My hope is always to be interesting and engaging enough that they want to keep coming back (so far, so good).
Then there is Money: getting it, keeping it, investing it, getting more of it. Sometimes I'm really good at getting it but not keeping it, other times I'm really good at investing it and getting more of it. And then there are times when getting it is almost impossible (notice I said almost). It is an ebb and flow that begins with me…but the financials are a vital part of being in business.
My job, as the owner, is to balance these on a daily basis.
My own mindset is the foundation for these three to rest on.
I am the boss, the manager, the marketer and the final decision maker. And because of this, each day I make many decisions, manage my own emotions and fears, navigate through my tendency to procrastinate, balance my personal and professional priorities, manage my team working on customer projects, manage my team's expectations and concerns, and understand what my target market really needs.
How do I do it? How can you do it? How does any business owner do it?
It begins with mindset. What do I value, what is my vision for the business, what are my personal goals and what does my target market need. Answer these questions and combine them with:
- Clarity – be clear and concise on every answer
- Commitment – how do you show up every day and what do you do every day
- Contribute – what are you offering every day
- Connection – are you personal and professional connections helping you every day
- Character – the principles you live by determine your character…every day
These are just a few things that make up the mindset of a business owner. There are more. But, what I wanted to ultimately share with you is that when I had just a few of these things I was able to start my business.
The main reason I've been able to keep the business growing is because I surround myself with people who are on the same path as I am.
They're committed to their own success.
They're willing to share their experiences with me so I can learn from them.
They're generous with their time.
And, because it's a give and take relationship, I get to share my experiences with them, support them, encourage them. This is how I'm able to maintain the mindset I need to grow the business.
Why I Do It
Even while writing this I thought to myself
“goodness, there's a LOT to owning a business…why do I do it?”
It's simple. My values are rooted in independence, self-reliance, truth, honesty, generosity, making a difference, and family. Now that I've been a business owner for a while (7 years this year), I see that this is the way for me to live my life according to my values…which in turn, is very gratifying, satisfying and motivating. Challenges are a part of life…they may as well be challenges that help me grow personally and professionally while helping others, too.
I'd love to hear from you if you're a business owner. I'd love to hear from you if you're interested in becoming a business owner. Either way…I'd love to hear from you.
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