run your business so it doesn't run you

run your business so it doesn't run you

running your business can be rewarding,exciting and fun. but it can be trying,problematic and frustrating. that's why its important to stay clear focused and on top of things. small businesses are growing. it used to be that you got a job with a company and stayed with that company your whole working life. the truth is that the modern business environment does not allow this same practise. big business offers little job security,more and more people are starting their own business. people start their own business because they want the freedom to be their own boss. call their own shots,make their own mistakes, and control their own destiny. do you know the difference between an owner and a worker? taking the leap from working in a business to managing and leading one is a much longer leap than most people imagine. they rent an office,hang out their shingle,hire an employee or two and they are off  and running,and running,and running. until one day they wake up exhausted,working for wages,and questioning their decision to start this business Of the thousands of businesses  that start each year close to half will not survive their first 6 years,mostly it is because the new owners don't know how to run a business. education and training rarely accompany the decision to move from employee to owner,you have to think like an owner,do not be like one of the boys. you have to make all of your decisions based on what is best for the company. don't try to do everything yourself. you need to find competent people who you can delegate responsibilities to. when you were an employee your day ended after 8 hours,as an owner you day is just beginning. as an owner you often need a more objective bottom line approach. some distance is needed. you are the boss think and act like it. some things you need to stay on top of

.establish your company.s mission and direction
.creating your annual strategic plan
.effectively communicating the company mission and plan to all employees
.developing and monitoring your annual budget.
.reviewing your financial information on a regular basis
.approving and making your capital expenditures
.determining personal needs to accomplish your plan
.making sure personnel is available to accomplish your plan
.creating personnel policies and benefit plans
.assuring the adequacy of resources to achieve your plan
.determining and implementing your marketing plan
.assuring there is adequate work to meet company needs
.staying abreast of industry trends and issues
.participating in industry associations
.promoting the company to the community
.providing motivation and leadership to your employees.

and make sure you have a proper balance between your business life and your personal life, spend time with family and friends. and as equally important maintain your health,and get plenty of rest, you need to make clear decisions.