3 Tips for Improving Small Business Success

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Is there a secret formula for small business success?

A recurring question that I hear often strikes at the heart of what every business owner would like to know. ‘Is there a secret to developing a successful small business?’ Although there is no magic formula, successful individuals seem to have traveled similar paths and have had similar experiences.

Do What You Love

The old saying goes, “Do what you love and you will never work a day in your life.” Not all businesses start of as groundbreaking innovations. A large number of them have roots in more humble beginnings like hobbies. With the proper planning an idea can quickly grow from a hobby into a viable business. If you are looking for direction for your new enterprise try determining what you are most passionate about. Then allow those interest to help shape the direction of your future company.

Defining Success

Many of today’s entrepreneurs are starting businesses according to an entirely different set of success criteria that are more in line with their lifestyles. The following questions should help you better define what success means to you. What’s most important to you at this stage in your life? How would you define the success of your business? Can you translate your idea of success into something more tangible?

Believe and Focus

If you decide to take the small business plunge you must believe in what you are doing even when others don’t and focus your energies on your vision. One of my favorite quotes is from Thomas Edison who in 1898 outlined his requisites for success.

“Success is the ability to apply your physical and mental energies to one problem incessantly . . . You do something all day long, don’t you? If you get up at 7 and go to bed at 11, you have put in 16 good hours, and it is certain with most men that they have been doing something all the time. The only trouble is that they do it about a great many things, and I do it about one. If they applied it in one direction . . . they would succeed.”               –Thomas A. Edison (Success Magazine 1898)

Nothing is ever guaranteed. However, if you focus on doing what you love, have clear goals and objectives, believe and are committed to your dream you’re likely to start noticing some positive results. Take a few moments to answer the following questions:

  • Do you have any hobbies that might be a good foundation for starting a new business?
  • If so, can you clearly describe what they are?
  • Do you think that you would enjoy running your hobby as a business long-term?

Cavanaugh L. Gray is the founder of The Entrepreneur Café, LLC. As a small business development specialist he brings two decades of experience implementing entrepreneurial-based business strategies that help startups scale. He has served as business advisor to Innovation Award Winners and is author of The Entrepreneurial Spirit Lives (An Amazon Top Read) and Bridging the Entrepreneurial Divide. With more than a decade as an academic he currently serves as Adjunct Professor of Entrepreneurship at Loyola University Chicago. For more information on how to start, grow and succeed in small business Connect With Us at cgray@ecafellc.com, 877-511-4820 or on social media @TheECafeLLC. Copyright 2019.

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