Running a great small business is not easy and the failure rate is too high. These businesses fail for several reasons but it often because the owners have not thought through what they want out of the business and how they want it to operate. In the end the business is running them around, rather than them running the business. As a business coach I often get asked what the key things are required to be successful in business. While there is no silver bullet, I believe you need the following:
- A business plan.
This does not need to be a book that sits on the shelf gathering dust, a simple plan on a page in most cases will be enough. Without a plan you have no path to the future.