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re: Business owners, tell the tale of your early days and when you found success
Posted on 1/24/24 at 3:04 am to Thundercles
Posted on 1/24/24 at 3:04 am to Thundercles
I was working for another lawyer who was traveling the world while I worked. That didn't bother me too much because I needed the experience but he would sign up cases that I was unfamiliar with and then not respond if I ask for assistance through email or text so I finally had enough. I left and did my own thing.
I represent a lot of small businesses - a lot of construction and trade related businesses. The #1 issue I have seen for them and me personally...is simply answering the phone. Most people are either (1) good at what they do whether it be plumbing, hvac, whatever or (2) good at running a business - marketing, etc. It's more rare to find someone good at both sides.
I've seen great workers but they forget routine things like sending invoices and never collect what is owed. They have no organization and no processes. They miss calls.
These aren't for every type of business but in my opinion they apply to a lot of different industries:
(1) Answer the phone. Respond to inquiries ASAP. Spending money on marketing is a waste if you aren't there when the phone rings. They will just call the next guy.
(2) Be organized. Spend money on software, etc.
(3) Get some $$$ stashed away ASAP for slow times whether it be seasonal-related business cycles or whatever the case may be. Small business owners need more in savings that your standard dual-income W2 family. You aren't guaranteed that paycheck every Friday.
(4) Have enough money for advertising/marketing. I see businesses who don't have enough capital starting out so once things aren't going well their first response is to turtle and stop spending what little money they have. They are more worried about personal bills, naturally. At that point, it becomes a death spiral.
I represent a lot of small businesses - a lot of construction and trade related businesses. The #1 issue I have seen for them and me personally...is simply answering the phone. Most people are either (1) good at what they do whether it be plumbing, hvac, whatever or (2) good at running a business - marketing, etc. It's more rare to find someone good at both sides.
I've seen great workers but they forget routine things like sending invoices and never collect what is owed. They have no organization and no processes. They miss calls.
These aren't for every type of business but in my opinion they apply to a lot of different industries:
(1) Answer the phone. Respond to inquiries ASAP. Spending money on marketing is a waste if you aren't there when the phone rings. They will just call the next guy.
(2) Be organized. Spend money on software, etc.
(3) Get some $$$ stashed away ASAP for slow times whether it be seasonal-related business cycles or whatever the case may be. Small business owners need more in savings that your standard dual-income W2 family. You aren't guaranteed that paycheck every Friday.
(4) Have enough money for advertising/marketing. I see businesses who don't have enough capital starting out so once things aren't going well their first response is to turtle and stop spending what little money they have. They are more worried about personal bills, naturally. At that point, it becomes a death spiral.
This post was edited on 1/24/24 at 3:06 am
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