As a small business owner you probably don’t have a staff of consultant that keep you informed on what is going on “outside” of your business, but that may have an impact on it.
Part of growing a business is learning how to be aware of “happenings” in the world outside of your business, and making an informed judgment as to the possible affects. Not every happening will be related to the future of your business but you must know which ones will.
The following are four general categories that you should keep an eye on:
- The economy: Included are such issues as volatility in the market; increase in unemployment; more US companies being nationalized; and inflation coming back.
- Disasters: everything from a terrorist attack, to an oil spill, or a natural disaster may impact your future business.
- External Company Problems: What if your entire computer system crashes or a fire destroys your office? Are you prepared for these types of emergencies?
- Business Trends: The internet changed everyone’s business. Technology and its uses in marketing, advertising ( Mobil advertising for example), client communication, etc. are constantly changing. Are you up to date in this area? What if a national company comes into your market place with a major marketing blitz?
Being aware of happenings outside of your own firm is a critical part of your job. Read you industry’s publications, attend seminars and conventions. Ask your support group if they are aware of any issues that may affect your firm. Seek out information ( internet, webinars, publications, etc) in the four areas referenced.
“The business of life is to go forward”
Have a great day!