On their show, Dirty Secrets of Small Business, Jack Mencini and Adam Sonnhalter of Maximum Value Partners talk about nearly every concern small business owners have and worry about, but never had a forum to get the insight and answers they need until now.
In this week’s segment, they discuss the common myth that as an owner, you can outsource the numbers associated with your business… the profit, loss, sales, overhead, projections… everything, so that you really don’t have to be concerned about them. Nothing could be further from the truth.
As a small business owner, it is imperative that you understand every aspect of your business and “own” the numbers to be able to chart your course of action and make changes as it relates to how well the sales and profits are doing for you and the organization you built. Another dirty secret this week is that you don’t have to make every decision immediately. Sometimes, and even most times, it is good to let things percolate a little bit without acting on the situation and even develop an “idea list” to take a look at a little later.
This week’s “How Come Question” centered on: How come my team isn’t happy when I get new business?”
Think about it. New business to you, the owner, represents a growing, thriving organization. New business to your team represents some negatives: more work, more hours away from relaxing at home, more stress and more pressure to get everything done to the boss’s delight.
When new business comes on, it would be a good idea to be as approachable as possible to get feedback and possibly talking to the “mole” in your organization to find out what the back story is on how everyone is really feeling about some of the things taking place in your organization.
As Theodore Roosevelt said: “People don’t care how much you know until they know how much you care.” And, this is very true when it comes to your business, your team and integrating more projects into the already hectic mix of running a small business. Tune into DirtySecretsofSmallBusiness.com to catch up on all the podcasts and learn more on how to be productive and successful.