Three Lessons I have learned running a small business
October is “Women’s Small Business Month”. Truth be told – every month is women’s small business month for me. Not only do I own a business, but I work with more than 150 women (*and some men) who own a Just Between Friends Franchise. Barely a day goes by that my life is not touched by another “woman in small business”. I wouldn’t have it any other way. It’s been 18 years since I had the very first JBF sale in my living room with my co-founder Daven Tackett. I have learned so much in those years and I am still learning. My top three lessons?
- Surround yourself with smart people: Find who bring skills to the table that you don’t have or don’t excel in. You don’t have to know everything or be good at everything if you have a versatile team that does.
- Know your numbers: This is SOOOO important. Know what you are spending and what you are earning. Set a budget. Make a plan for cash flow. This was my toughest lesson.
- Change & innovation are key to survival: While you need to keep your branding, mission and core values consistent, if you don’t adapt to the changing marketplace you will eventually become extinct.
I also love to share and hear other ideas. I am constantly reading about other successful small business owners. I found this great piece from Fast Company Magazine with advice from six success female entrepreneurs. I love their insight and lessons and hope you will too. Click here for more information about joining the JBF team. Enjoy! Shannon