What Do You Really Need to be Successful as a Small Business Owner?
Recently, I was told a story about two entrepreneurs--both with MBAs--who went into business for themselves. Before long, they found themselves struggling. From the story, it was apparent that these entrepreneurs lacked the practical experience to run a small business.
This made me ponder…what do you really need to be successful as a small business owner? I often tell people that I have an MPB degree, A Master of Practical Business. An MPB is not an academic program, and nobody hands you a diploma. You earn your MPB from working in the trenches, getting burned from failures, and achieving "highs" from successes. The only way to earn an MPB is to dive in, get your hands dirty, and take real risks. In doing so, you learn many things, including how to measure reward and satisfaction.
Sound overwhelming? It shouldn’t be. I believe you can accelerate the time it takes to earn your MPB by learning from others who’ve graduated from the proverbial School of Hard Knocks. Rub shoulders with them, absorb their lessons, and use them as your sounding board, your personal think tank. Being successful in small business doesn’t happen because you know business theory (although it certainly doesn’t hurt), but because you make an effort to learn the practical aspects of what makes business, and people, tick. It isn't necessarily sophisticated; some of it is just good ol' common sense.
So the question is: what can these two entrepreneurs—who don’t have much practical experience—do to become successful? The answer: find a mentor who has an MPB. They should open their minds and be willing to think differently. And they need to take action. Even the wrong action, executed effectively, is better than standing in place.
Entrepreneurs with MPBs don't wait for the world to come to them. They go out into the world, ready to observe, learn, and conquer.
Ray Silverstein
PRO, President's Resource Organization
Learn about the benefits of Small Business Peer Advisory Boards www.propres.com
Read my book The Best Secrets of Great Small Business and learn their secrets of success. www.bestsmallbizsecrets.com
Read my blog at http://propres1.blog.com/
Is it possible to be in the business of selling leads, and actually have no leads of your own?
This is the predicament in which I find myself.
S.C.O.R.E reps, on-line gurus, and business associates all suggest either cold-calling, or buying leads. (like the ones I sell).
So I do the former, since it takes money to make more, and I have none.
I do have credit, but really cannot extend myself any further out on consumable debt.
Q2: With no business degree, (other than the PBD you mention in your blog) 1 yr of college, no specialty or trade school certifications, no membership in any associations; no fancy website, stationary or logos, and the greatest product in the world (everybody needs leads), how can I assure my prospects and/or compete with my competitors who have all of the above, as well as auto-lead generation strategies, SEO techniques in place, a vast sales force, and on-going full-color, advertising in popular print media publications?
Summary: Such is my lot, but I don't want to always be a loser, or failure.
I do have some "core characteristics", like diligence, persistance, honesty in business/personal affairs, years of business cold-calling, prospecting, and multi-channel interaction with the decision-makers of many industries.
Any/all valid suggestions from accomplished professionals who might be able to offer non-cost solutions, practical advice, etc. would be appreciated.
PS: I do have an entire wall of self-help books and tapes with all the familiar names and orgs- but I'm still broke, which means the problem lies somewhere between being able to comprehend and then implement what I read, and/or having the 'personal power' to fulfill my dreams and reach my goals.
Thank you for allowing and reading my commentary;
Sincerely & Best Regards-
G.S. Crable
GSC & Associates
Portland, OR
(<<casual email corresp addr below>>
telco7@hotmail.com
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