When you have a small business, the name of the game is change – change in business conditions, change in your finances and change in the way you run your business.
Here are some ways in which your priorities may change and how you can handle it.
Maintain Discipline
This is a very important factor, not only if you want to set your priorities, but also to enforce them.
Strict discipline in areas such as marketing, sales and finance can ensure that any decision, however tough it might be, can be easily made and carried out if you have the will power.
You also have to ensure that the employees you hire are disciplined as well. That means adhering to policies and working hard when necessary.
Admit That Priorities Change and Act Accordingly
The priority in the first or second year of your small business could be to get yourself established and generate just enough income to stay afloat. But after some years, your priorities will probably be to save enough money to buy a house or other luxuries.
The key is to recognize that your priorities can change and then formulate and work toward them. The timing of these changes is also very important – and you should not leave any of your priorities hanging in midair.
Learn to complete your existing priorities before moving on to new ones.
Make Your Employees Aware Of Your Priorities
For your business priorities to succeed, you need to communicate them to your staff so they can pitch in and help you realize them. You should motivate your employees and reward them when they work hard so your priorities will be realized.
This will encourage your employees to become more responsible and hardworking. They’ll also realize that in the process they’re not only helping you succeed, but themselves as well.
Get Your Basic Priorities Right
Realize that your business priorities should always come before your personal ones. If you are running a growing small business and have some extra money, you should make choices such as purchasing two additional vans to speed up deliveries to your customers, instead of buying a luxury family car that will be of no use to your business.
After your business is well established, then buying a new car for your personal use would not hurt; and that is the time when you could put this on your priority list.
Keep Your Eye on the Big Picture
When you are considering your priorities, you should always keep your eye on the big picture. Any decision you make based on a priority you have established will be reflected in your business – either positively or negatively.
Think before you act on your priorities and also do some thinking about the impact of your decision on your business before acting on it.
You should realize that your priorities will change, and that you will need to set them yourself and set aside a budget to realize them. Above all, think before changing and acting.
