Five Small Business Lessons for Entrepreneurs

You’ve got a great idea, product or service. You’ve launched your brand with great initial success, but things are starting to go stale just a few months into operations. The roller coaster ride of owning a small business can be overwhelming, so Point Taken is sharing five lessons to help you overcome the mountains and valleys of small business.

1. It takes time to build a small business: It might appear that running a small business is easy, and that customers will come to you because your product or service is just so amazing. Even with the most valuable of offerings, it takes time to grow a business. Remember that the biggest and most successful companies didn’t form overnight. Be patient and build your business keeping your goals in mind.

2. Your business will go through ups and downs: Some months, you might be so busy you can’t keep your head on straight. Others, you’ll feel like you haven’t made a new sale, or even had any prospects, in ages. While both the busy and slow times are stressful, remember that many small businesses have slow periods. Own a retail business? The holidays and back-to-school are likely to be busy. Offer swimming lessons? Your likely to have some slow months during the winter unless you use an indoor pool or live in an incredibly warm climate. Plan for the downtimes to keep your business on track.

3. Keep working through the downtimes: The downtimes are downright depressing. One minute, you’re flying high and bringing in the big bucks, the next you are worried you won’t pay the rent for your office or storefront. While it may seem like the perfect time to give up and go catch up on old movies, this is the time to work even harder. Seek out new prospects, market your business and you will reap the rewards sooner or later.

4. Stay confident in your brand: When you aren’t making sales and aren’t find prospects, it is easy to lose hope and stop believing in yourself and your company. Keep confidence high by looking back on your achievements. If you have employees, this is an especially important time to ensure morale is high, and only you can demonstrate your belief in your product or services.

5. Enjoy the ups: When you are too busy to even remember the downtimes is the most important time to take a moment and think. Note how it felt to worry about your business and take pride in all you have accomplished. Not only will you feel satisfaction in your work, you will remember the highs if you ever ride the roller coaster that is small business again.