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Make time for reflection (access required)

One of the most challenging aspects of owning your own business can be reflecting on it. Some may call this strategic planning. As an entrepreneur, the one thing you will find is that it is much easier to look at someone else’s company and identify all those things they could be doing better or just differently, then it is to identify the things in your own business. But when you’re living the day-to-day, it is more difficult to step back and pull apart what you’ve worked so hard to achieve and make it better. So what are some cost-effective ways to reflect upon your business? 1. Hire a Coach. Athletes have them, so why can’t entrepreneurs? There are many out there. One of our favorites is Inner Circle Mid-Atlantic. It’s led by Paul Riecks and is an intimate setting with peers helping you grow your business and stay on track. 2. Join an Organization. The National Association of Women Business Owners provides Mastermind groups as part of membership. Mastermind is made up of other members and is like having an ad hoc advisory board for your company. 3. Talk to Trusted Advisors. Friends, family, peers -- put together a group of trusted people that you can meet with and discuss issues much like if you had a board of directors. The issues you discuss may simply relate to a new marketing piece or a target market you are thinking of persuing.

One comment

  1. I just read the blog in TDR on “Make Time for Reflection.” It was excellent and it’s so impressive–just like the many things Bill Stevens and Janine DiPaula Stevens so. You really are creating a Small Business Buzz!

    Although I don’t actually own a small business, I do practice family law (divorces,prenuptial agreements,adoptions) and thatis much more like having a small business than many other types of law. I’m doing many of the same activities to generate referrals that small business owners do since my clients are individuals, not the more typical corporations that most larger firm lawyers represent.

    So, I really liked your and Bill’s ideas and will be adopting them shamelessly! 🙂

    Ferrier R. Stillman
    Tydings & Rosenberg LLP
    [email protected]