Stubbornness, pride and fear are a few of the reasons why so many small businesses fail. Many small businesses, when they start, are built upon a foundation that is made up of the owners’ knowledge, values and perceptions.
As the business grows it takes one of two directions:
- The owner tightens the reins on his personal foundation and builds the business based on selected learning and views in keeping with his own foundational principles. New ideas presented by (outsiders) are, in many cases, avoided. It becomes a form of inbreeding and it results in an “unhealthy” business. The owner feels that he/she has the capacity to learn about and implement any technology, marketing or management systems that may be needed.
- The owner realizes that he has some limitation and that his main job is the delivery of his products or services. With change being a constant, the owner is open to outside support in the areas which are outside of his main responsibility. This opens the mind to new ideas and the acceptance of others to educate and to help in the implementation of new growth possibilities.
These two examples point out the different paths new businesses may take. An analogy that makes the point is as follows. With example number one, I visualize a primitive tribe that has lived without outside contact for hundreds of years. Traditions are passed on from one generation to another. Things have been done the same way for centuries. Life span is still short and innovation is virtually nonexistent.
I compare the second viewpoint to my six year old grandson. His exposure to new “things” began almost at birth. He is attuned to what is happening in the world and can work wonders on the I-pad he received for Christmas. His skill level in reading and math is at a level that I did not reach until I was in 4th grade. He is very open to learning new things and expanding his ability to excel.
Excel in your business by being open to new educational opportunities, and open the door in your mind to accept help.
Nick J. Petra CFP subscribe to this blog at www.strategicduck.com new doors will be open to you.
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