If you haven’t read Jay Goltz’s blog in the small business section of the New York Times, you should. Not only is he a successful small business owner, but he provides great insights for the budding entrepreneur.
One of his latest postings “Top 10 Reasons for Entrepreneurial Success,” caught my eye.
The first factor, “Look for opportunities to do something better than just about everyone else,” is dead on. I dabbled in a variety of industries after college: hospitality, logistics, and sales. Even though I didn’t know the route I wanted to go, I did know that I was good at talking and connecting with people.
I leveraged this strength and became the director of sales and marketing for a Chicago staffing and recruiting company. I learned the ins and outs of sales and recruiting, and realized this is an industry all about people. I knew that I could, and would, succeed in this.
Today, my business, LaSalle Network, is still based on personal connections. Although I am no longer involved in the day-to-day sales activities, I make it a point to know our clients both personally and professionally. I still go on sales meetings and happy hours; I call them on their birthdays and anniversaries. As Goltz says, “do something better than everyone else,” and this is what I aim to do with personal connections. If you have a strength, use it.
I also like tip #9: “There are going to be difficult times and you need to be resilient; whining is a waste of time.” No matter your career, and especially if you are an entrepreneur there will be hard times, and those hard times should and will affect you directly.
I always say that building your own business is like having a child. You love your child unconditionally and you are proud for all their accomplishments and successes, but you know along the way there will be hardships. You don’t stop loving your child because of their mistakes or faults, instead you help them to grow and support them no matter what.
This is how you should run a business. As Goltz says “be resilient.” If something goes wrong, do something about it. If your child has been acting depressed or got involved in the wrong crowd, you don’t whine to your partner: you do something.
This past year, we lost our #1 client. This client contributed to 10% of our revenue, and to make matters worse, was leaving in the middle of the recession. We had to do something.
We did what we do best and worked with our sales team to earn more business. Most companies would look for new business, but I had built relationships with even the smallest of our clients and fostered this relationship to create more business. Because of the relationships I had created throughout the past decade, our company wasn’t hurt by this loss and even grew 5% in 2009.
As Goltz points out, the “work hard and follow your passion” mantra is a good go-to, but leveraging your strength and being resilient is what will take you from good to great.
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