1.Have a clear vision of their business, and commit their vision to paper.
The chances of your small business' success improve substantially if you have a clear vision of what you want your business to look like, and what you want it to accomplish for you in the future. Setting direction and guiding the business toward reaching your vision will make it successful. Vision is the owner's business philosophy.Some of the things your written vision statement should include are: (1) the line of business you are in, (2) your company size, (3) the markets it will serve - demographics and psychographics, (4) the number of employees you will have, (5) the number of locations that you will operate from, and (6) what competitive advantages will differentiate your business from your competitors'.
2.Put the proper systems in place.
Standardize your procedures so that everyone knows what they are and how to do them. These procedures involve production systems for your products or services, systems to deliver those products or services, systems to track new customers or clients, systems to help you keep up with your finances, systems to hire and train new employees, and the list goes on. Look at the systems that operate within the McDonald's chain. Documented systems can make a difference to your own time, as a business owner. Without such systems in place, everything depends on you. If you set up the right systems from the start, they help run the business.
3.Know what they don't know and then quickly get the help to fill the void.
Most small business owners don't realize that having an occupation or skill does not necessarily equate to building a successful business around it. It takes different skills to build a business. You will need a number of different skills; financial, marketing, management, and customer fulfillment skills are among those required if you want your business to run like a finely tuned machine.
4.Have a mindset of preeminence.
Preeminent (adj.): excelling others, outstanding.The business owner has to have the mindset to view his business as a product not the product or service he is producing, but his whole business as the product. A strategy of preeminence of excelling along with the approach of looking at your business as a whole, is truly transforming. If this is the only idea from these 5 habits that you take to heart and adapt and implement, you will see a significant improvement in your business.
5.Work on their business, not just in it.
The successful small business owner understands the real value and reward that is derived from working on the business rather then just working in the business. Working on, instead of "in" the business is strategic work. It is the way businesses transform themselves from vision into reality. It requires asking strategic questions and then doing everything to find answers to those questions.
Source by ezinearticles.com
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