Best Advice to Small Business Owners By Goldman Sachs

the best advice to a small business owner or for that matter when you wake up in the morning just thinking about it during the day think about it at night think about it and then dream about it no company has ever failed but that had millions of delighted customers and you start with him and I want her to sign there’s no substitute for hard work the best time ever going to have is when it starts out just you and it’d be great if it grows into a wonderful big profitable company but you’re never going to be happier and more satisfied than you are in the first year or so of getting your business going cuz you do every single thing is sweep up when everybody goes home you’re the first one in a plug on the coffee pot so when your people come in they have hot coffee and can get straight to work work through lunch set an example for him but there’s no substitute for hard work people say lock

yes but the Hardy work the lucky again my advice to a small business owner or any entrepreneur would be not to be discouraged if the business you end up with is not the one you started out at 2 to pursue because so often you encounter difficulties do you encounter failures and the important pieces to learn from each of those very quickly and to Pivot and to move on to the idea that works of course you have to be close to your products close to your customers and think about them that’s the most important but don’t forget to think about your business what your plans are what you want to do next how to take your business to the next level again think about being in your business but think about your business as well my best advice is to really work hard to clarify what your purpose is and I’ll be able to articulate that people to communicate it

in the simple sense and the reason that’s important is as you bring people into your company I think the most important question you also knows why are you here why do you want to join this company and if you hear the purpose back if you hear the passion around the purpose makes everything a whole lot easier any skill can be learned and taught but passion can not being an entrepreneur can be a roller coaster ride at times you will have great days you will have not so great days you may even from time to time have an awful day you’ve got to stay focused and stay level-headed and keep your feet on the ground companies that do well at some level even though it may not be written down in piece of paper need to have kind of a clear strategy of why they’re different why they’re adding value why they’re producing something special that customers need that not getting now so

but I think if there’s a clear sense of strategy and you can get all the people of lying around that then you get a lot more power than if you’re just scrambling and working harder and harder and without without that clear Direction so that’s that’s why one piece of advice