Expect loss. While
confidence is a key ingredient in the performance of a small
business, overconfidence can be deadly. Knowing that losses will
occur sets you up to meet them head on. You should see to it that
your company is adequately insured. At a minimum, this involves:
general liability insurance, commercial vehicle insurance, workers'
compensation insurance, environmental protection insurance, business
interruption insurance, intellectual property insurance, employment
practices liability insurance, and data-liability insurance. Of
course, the best way to make sure that you are adequately protected
is to meet with your broker in order to discuss your company's
specific needs.
Expect disputes.
Generally speaking, most people are not comfortable in situations
charged with disagreement or friction. The biggest mistake they then
make is to avoid them altogether. This is problematic because it
means that decisions are not made. While you shouldn't seek
confrontation, you should expect it, and have a plan for tackling the
issues that arise.
Manage your time wisely.
While organizational skills in determining what needs to get done are
key, those alone won't ensure that your time is being allocated
optimally. Take advantage of time management software tools. They
will help you to realize where time is being lost.
Embrace change. While
humans tend to be creatures of comfort, preferring predictability and
routine (especially when the stakes are so high, as in a small
business!) flexibility is one of the most critical traits to possess
in survival. Darwin figured this one out ages ago!
Communicate variedly.
Utilizing a variety of means of communication ensures that you are
reaching all of your workers and colleagues in the way that is most
likely to get through to them. Additionally, when information is
covered multiple times across various media, it is more likely to
stick with people in general.