For many small business owners, starting a business is a dream of financial freedom; doing what they love and working when they want. Unfortunately, more often, it becomes a personal prison where they are required to work more hours than any job and serve customers they dislike.
On the Small Business Radio Show this week, David Neagle, founder of Life Is Now, Inc, discusses four questions every small business needs to ask themselves in order to get set up for success:
4 Questions to Set up for Small Business Success
1. Do You Love the Business of What You Do?
David believes that “you’re never going to build a business of your own if you don’t love the business behind it. If being rich is a fantasy, you’re probably not cut out to be an entrepreneur. We only see a few entrepreneurs that make it really big. You have to be willing to really work without being known, seen, or given applause. You love the process of building a business, not necessarily the result or where you’re going to go.”
2. Are You Able to Build an Infrastructure for your Business?
To have a successful company, everyday can’t be an improvisation. Many small business owners want to help customers, but never build the processes inside their company to scale. David adds that “without the infrastructure of a business, you can’t market, sell and deliver the product. It will safeguard your business from becoming irrelevant or crushed by competition. “
3. Do You Use the Law of Attraction as a Tool, Rather than Mindset?
David explains that people get confused as to what the law of attraction entails. He says that “most people think it’s a form of entitlement that requires little work. The law of attraction is a mutually beneficial relationship. The things we want become attracted to us because we have something that can help them. We are attracted to the things we want because they have something that can help us. This is what puts us on the frequency of attracting the right people for our business.”
4. Are You Only Starting a Business to Get Rich or Have More Freedom?
David cautions against this mindset. He adds that if “you’re only getting into business so you don’t have to work. This is a middle-class mindset. We can date this mindset back to our mom and dad- working to not work anymore. If you’re going to start a business, you need to like to work. It should be the thing that you love. It should be a place that you love to express yourself and inspire your employees to do the same.”