Entrepreneur Weekly Episode 6:You Can Lead A Horse To Water
Change may be inevitable, but you can always count on some idiots to refuse it! Don’t be an idiot: fix what’s broken, or about to break, before it breaks you.
One of the biggest challenges that Vero Concepts faces, on the local level, is getting business owners to face up to their shortcomings, mistakes, bad practices, and flaws. For whatever reason, these businesses don’t want to hear anything that contradicts their beliefs, however silly they may be. If you’re a current business owner, and you suspect you may be hard-of-listening to criticism, take heart! You can change, if you want to.
There’s a fundamental principle of business: make a profit. Are you running a business, or are you indulging your hobby, and calling it a business? Too many ‘entrepreneurs’ are behaving like hobbyists, but believing that they have a business. If you can’t pay yourself from your business, it’s a hobby. If you’re stuck at the same level as five years ago, you’re headed for failure.
Most small business owners don’t have a post-grad degree in business from an Ivy League school. They didn’t need it to get started. However, to keep going, they’re going to need some education in planning, strategizing, budgeting, and many other areas where a basic education doesn’t provide the information they will need.
Keep learning. If you hire a business consultant, listen to the advice given by that consultant. Whatever you do, don’t stay stuck in ‘hobby land’. Move to profitability. Take your business to the next level, or the rest of your business future will be headed downhill.