Tactics successful entrepreneurs should adopt

September 26, 2013 by ADEMOLA ALAWIYE

   

Running your own venture is one of the most rewarding adventures. It can also be a hectic quest. With a great deal of time management and organisation, you can strike an efficient balance between the rewards and the stress. ADEMOLA ALAWIYE writes

Managing a small business can be a daunting task. Entrepreneurs have great ideas and plans, but they sometimes lack the proper management skills for day-to-day activities. Learning a few essential operational techniques can greatly enhance the operations of a small business and turn it into a highly successful company.

Sometimes, the route to happiness depends more on what you don’t do, experts say. To be happy while running your business may be viewed as a difficult task by many entrepreneurs. Happiness in your business life and personal life is often a matter of subtraction, not addition. Subtracting issues that really don’t count, and adding those that matter to the success of your venture.

Owners of established business say though it is not always easy to run a business without challenges, your ability to apply wisdom in the management of activities will determine how happy you will be as an entrepreneur. The Managing Director, Stalk Venture, Mr. Bolaji Ogedengbe, says happiness in business is not always determined by the business environment. According to him, the environment, especially in Nigeria, is highly challenging but it is up to the entrepreneur to shrewdly initiate measures that will make him happy while doing his business. Below are easy tips to help you run your business happily, according to experts:

Take responsibility

When employees make mistakes or don’t meet your expectations, or when your vendors don’t deliver on time, refrain from blaming them for your problems. You should not always blame them because you may be guilty as well for not giving them enough training, experts say. However, if you have given them the required training, you should scold them when necessary rather than blaming always when you can do some of the jobs yourself.

Experts say why you take responsibility could be because you didn’t build in enough of a buffer, or maybe you asked too much, too soon. Taking responsibility when things go wrong instead of blaming others does not make you masochistic, rather it’s empowering. When this is done, you focus on doing things better or smarter next time. And by getting better or smarter, you also get happier as an entrepreneur

Listen to your clients

To stay happy as an entrepreneur, you need to know what your customers want. You have to listen to them and make sure they are catered for adequately as this endears them to you the more. Consultants in entrepreneurship say you should learn to listen and lessen interruptions when clients speak.

They note that interrupting isn’t just rude, and explain that when you interrupt someone, what you are really saying is: ‘I’m not listening to you so I can understand what you are saying; or I’m listening to you, so, I can decide what I want to say.’ If you want your clients to appreciate your business, you have to listen to what they say. You must focus on what they say and ask questions to make sure you understand what they say and need. This will make them appreciate your products and your ability to always listen will make them love you and your business. Of course, when your customers love you and your business, this will make you feel happy as an entrepreneur.

Avoid whining over problems

Words have power, especially over the entrepreneur. Whining about your problems makes you feel worse, not better. Rather than whine, take time and think out ways to solve the problem. If something is wrong with your business, don’t waste time complaining about it. Put that effort into making the situation better. Unless you want to whine about it forever, eventually you will have to do that.

So, why waste time when you can actually fix it? Don’t talk about what’s wrong. The General Manager, Ivy Securities Limited, Mr. Chike Korie, says, “Talk about how you will make things better, even if that conversation is only with yourself. And do the same with your friends or colleagues. Don’t just be the shoulder they cry on, go to them for help and make sure you come out with something comforting. Friends don’t let friends whine, friends help friends make their lives better. Take advantage of this instead of whining and you will be happier in business.”

Hire employees who share your vision

Find people who want to go where you are going in business. When you get this set of employees, they will work harder, have more fun, and create better business and personal relationships and all of you will be happier. If you find yourself trying hard to control other people, you have decided that you, your goals, your dreams, or even your opinions are more important than theirs. Plus, control is short term at best, because it often requires force, or fear, or authority, or some form of pressure–none of those let you feel good about yourself, experts say.

Stop criticising

That you are more educated, more experienced and have climbed more mountains don’t make you smarter, or better, or more insightful. That just makes you who you are. Just like everyone else, including your employees. Everyone is different, not better, not worse, just different. Appreciate the differences instead of the shortcomings and you will see people and yourself in a better light.