A few days ago CEO of a company told me the same thing what HR head of another company said today: Abhijit, are you adding any values to your core business? Don't you think, you're focusing too much on other activities which are not generating sufficient return?
An introspection revealed that, that's exactly what I've been doing: Investing more than necessary time on a new project ignoring the one generating a stable income I need for survival.
I failed to understand, how, despite running a small business for more than decade, could I ignore such an important element of successful entrepreneurship: Cash-flow?
Well, what I've learned from these interactions are simple and something that a small business owner should never ignore:
1. Growth is necessary but never ignoring your already established business.
2. Growth is essential but preferably by extending your core business expertise.
3. Never imagine that you are already a successful business owner and nothing could go wrong with you.
4. Seeing big dream is the first step toward stupendous success but keeping your feet firmly on the ground.
5. Must have a few competent managers for efficiently running existing business before you take plunge into the unknown territory of expansion.
If you are a small business owner, have you ever experienced any such difficulties while on expansion mode? If so, please share with us
An introspection revealed that, that's exactly what I've been doing: Investing more than necessary time on a new project ignoring the one generating a stable income I need for survival.
I failed to understand, how, despite running a small business for more than decade, could I ignore such an important element of successful entrepreneurship: Cash-flow?
Well, what I've learned from these interactions are simple and something that a small business owner should never ignore:
1. Growth is necessary but never ignoring your already established business.
2. Growth is essential but preferably by extending your core business expertise.
3. Never imagine that you are already a successful business owner and nothing could go wrong with you.
4. Seeing big dream is the first step toward stupendous success but keeping your feet firmly on the ground.
5. Must have a few competent managers for efficiently running existing business before you take plunge into the unknown territory of expansion.
If you are a small business owner, have you ever experienced any such difficulties while on expansion mode? If so, please share with us
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