Nuts and Bolts of Business

Even in today’s digital age, there are plenty of small businesses that are revolting against the online trend. In fact, a recent CNBC poll found that only 45% of small business owners had a business website.

Of course, as important as a website might be, it’s still only one part of the larger blueprint that’s involved with constructing a successful company. Building a business is a lot like building your own home from scratch. You need a solid foundation that’s not going to crack with pressure, the right materials, and all the detail you can muster to get those pieces to fit together.

Here, I’m going to offer a few simple tips for managing the nuts and bolts of your business, so you don’t overlook the little aspects that are involved in making your company a success.

1.     Don’t Lose Sight of Your Plan, but Be Flexible

Before you get started, it’s important to take the time to get to know your business and research who you’re really building your company for. Business, marketing, and financial plans should all be established before you launch your product, and the planning doesn’t stop after the initiation phase.

Setting a goal, or writing a blueprint for your business can help to keep you on track throughout the course of your company-creation journey. However, it’s worth noting that companies, trends, and customers all change with the times. Be flexible, and prepared to adapt to the evolution of the industry around you.

2.     Remember that the Little Things Matter

Dotting the I’s and crossing the t’s might not seem like the most exciting part of running a business, but that doesn’t make them any less important. The little details are crucial when it comes to creating a company that works, and even a small over-looked feature can be enough to bring your entire brand tumbling down to the ground.

Think carefully about how you can make things work for you when coming to agreements with partners and suppliers, and double check everything you do before you call it “finished”. Running a business is an exercise in discipline.

3.     Don’t be a Jack of All Trades

One incredibly common trend among small businesses is the desire to embrace a “Jack of all trades” mentality. This means that you end up doing everything involved in your business, rather than just running it. Unfortunately, if you tell yourself that you have to wear all the different hats of running your company, then you not only increase your risk of making a dangerous mistake, but you also end up with a greater chance of burnout too.

Make sure that if you want to be successful in business, you’re focusing your time working “on” your business, rather than “inside” of it.

4.     Get the Word Out

Although it’s very common for companies in the tech world to have a social media account and website presence, there are other companies out there who think that having a digital presence is an unnecessary, or low priority.

Unfortunately, this kind of thinking completely ignores the reality of the modern age. According to Facebook, as of the end of 2016, there were more than one billion people visiting Facebook pages every month. That means that a company’s online presence really can’t be overlooked.

Finishing Thoughts

There are many entrepreneurs that allow million-dollar ideas to blind them to all the work that goes into making their business a success. If you want to become more than just another idea, then you need to approach building your business with the same care and attention you’d put into building your house. Address every nut and bolt carefully, and stabilise your foundation right from the start.