Notes

Business Advice for Startups and Small Business Owners

When you enter a business, you enter a venture where learning never stops, new opportunities always rise and new competitions always enter the scene. Whatever the size of the business does not matter when it comes to new knowledge, yet somehow, being a startup and a small business owner has its own disadvantages obviously. Take us, for example. Axis Capital Group, a credit source offering small companies loan options located in Nebraska and now expands to Singapore and Jakarta, Indonesia has had tough times. Even when we are starting, we compete with large credit companies with big names in the industry. We set ourselves apart from others through traditional methods which up until now has been very helpful in how we do our ways.

1. Define yourself and your business’ culture

Authenticity is key – be yourself. You cannot keep your business when you act all fraudulent about things. This frame of mind is essential in helping define your business’ culture. This can also be one of the factors in leading and setting the tone for your employees.

2. Keep track of your Long Term Goal

At the outset of your new venture, you will likely spend all of your time with your nose to the grindstone, which can make it tough to see the big picture. While getting through daily operations matters, you should never lose sight of your long-term goal. When it comes to this, think big. Sure, you may have a sense of where you want to go in a two- or three-year plan, but think longer term.

3. A journal can be helpful

It may be very hectic to run a small business firsthand and adding another task to the unending to-do list is typically an added stress. Nevertheless, take time to write down things you have done during the day. It may help you build a concrete outline of your thoughts and priorities.

4. Take a Leap and a little Risk

Review what you have already achieved and what is left to achieve. In order for you to expand your business, you have to take a leap and look into the risk involved without putting those involved in jeopardy. Empower your employees to do the same. Let them make decisions and grow the business, and good results will follow. It will likely help foster your business’ culture and your reputation as a leader as well.