Whether you are starting up a business, or growing a business or even changing the direction of your business there is no denying that being a business owner can be a daunting endeavour.
Over my eight plus years at the BEC and recently on the Amplify programme I have seen so many examples of business owners fearful of taking those next steps. Addressing the fears associated with the issues you face can be a positive, worthwhile, and rewarding experience.
The reality is that any major change from starting, growing, and changing direction takes courage in buckets, initiative, drive, determination, and guess what no one is going to do it for you! I hear repeatedly ‘I will be able to do that when I can afford to employ more people.’
However, to progress you the owner will need to become an ‘allrounder,’ not an expert but an understanding across all areas of the business is essential.
Here are my tips on how to do this…
Educate yourself – an absolutely true saying is ‘knowledge is power’ and you will need an understanding of your industry its essential which means keeping up with market trends, customer needs and the competitive landscape. Developing your business skills is essential learning the basics of business planning, marketing, finance, and social media are essential.
You may not have come from these industry backgrounds and certainly if you are over forty then the entire world of social media and digital marketing feels like a minefield. However, you have to embrace this new world, I consider myself knowing enough to get along now, not the techy wizardry but how important blogs, newsletters and updates are to the BEC business and I have to set time aside to write blogs etc, it is in fact a key part of my role although undeniably not in the 8 year old job description!
Having a business plan – at the risk of constantly repeating myself here but having a solid business plan with a clear vision on how to define your goals and the value proposition you offer. All businesses need a road map a step-by-step plan of how to make the vision a reality which makes it less daunting and holds you to account for how to make things happen. Move away from waiting for someone else to do it and be self service on making this happen. The BEC has templates but so does Google, easy to follow and crucial to get those thoughts out of your head and into a plan.
Finding your supporters– these could be trusted friends or partners, or mentors from an organisation like the BEC. These are people who know your industry and their support and guidance can provide invaluable insights and encouragement. I met a fabulous person called Dr Zella King several years ago who authored a book with a colleague Amanda Scott called’ My Personal Boardroom.’ I can assure you it is a well-thumbed book, used a lot and it changed my professional working life!
My last tip is focus on the positives, however small the progress may be, remember to celebrate the small wins and surround yourself with positive influences who can help you maintain that hopeful outlook. Having a mentor can also help with this, although all good mentors will provide the hard to hear answers too!
Wherever you are on your business journey you can mitigate fear by acting, remember every successful business owner faced the same fears and overcoming them is part of the journey.
Remember the BEC is there to provide support please check our website for how we can help with this https://www.beccic.co.uk