Your Business Bestie
When I made the move from working for international corporations to becoming a small business owner, there were several things that changed. My wardrobe for one! As well as my commute, my expense account, those sales conferences in Hawaii, and my weekends off.
But what also changed was the management support I was used to. I was still leading a large team — now golf shop attendants and restaurant staff instead of systems developers and network specialists — but gone were the weekly management meetings and water cooler discussions, lunches with co-workers, networking events and general conversations with other people in the industry. All of a sudden it was just me. And most of my friends were now my customers as well, so I became more guarded in discussions about business.
Professional organizations, networking groups and the local Chamber of Commerce were all great resources and absolutely serve a purpose. But what I was missing was someone to sit down with to discuss the details. How were our sales last quarter and do we need to make any changes? How are our staffing levels? Is the recent marketing campaign working? Where should we spend our advertising dollars? Do we have any advertising dollars? Do we keep that one employee who drives everyone crazy? Who is responsible for our over-spending? Oh right, that was all me!
Not only that, but I was so busy just trying to keep up with all the day-to-day chaos, that I never stopped to ask these questions anyway! It was 3 years before I took the time to prepare a detailed cashflow statement so I could manage our cash properly. Until then I just took money in and paid it out again, relying on my bookkeeper and our income statement. The income statement looked great, but the timing was always off because it never really tracked the flow of what would be coming in and out every week.. There were things like gratuities that we collected but then paid out the following week and gift cards that were sold but which would be exchanged for products and services at a later date. All these details were managed in a very general sense only, while I just struggled to keep up.
What I wished for was a management team, a board of directors, a mentor, advisor or business bestie. Someone to hold me accountable and who I could hash things out with on a very real level. Someone to help me work more “on my business” rather than “in my business”. But also someone who understood me, who I am and what I do — my essence. My priorities as a wife, a mom, a business women officially in mid-life and still wanting to learn, grow and contribute.
I believe that things happen for a reason, and I have now found that business bestie. We discuss not only our current business ventures but also our dreams, goals and challenges. She is someone who not only celebrates who I am and what I bring to my work, but pushes me to be and do more — of whatever. Sometimes it means doing more of nothing at all. Reach higher, dream bigger, do better.
In your own business, find at least one person that you can sit down with and really trust with the details of where you are today and where you are trying to go. If you have a partner or a management team, then make the time to have those discussions. If not, then a business coach or advisor might be a good fit. Someone who is personally unaffected by your decisions, but with whom you can brainstorm, deep dive and dream big.
Someone who believes in you and will support you on your journey to success.