Want good business advice? Don’t look in the mirror

80120533 Everyone is looking for insight.  How do we generate more traffic into our store (or website)?  How can we upsell clients?  Should we raise our prices?

If you're a small business owner, you're probably facing these kinds of questions every day.  And in  most cases, you're sorting through it all on your own.  That's a problem.

No one is less objective about your business than you are.  No one has more of an emotional investment that you do.  No one has more on the line than you.  So — no one is less objective than you.  Which leads to some pretty dangerous decision-making.

So how can you balance your lack of objectivity? 

  • Create an advisory board (often made up of your professional advisors….attorney, accountant, etc.) that will meet with you monthly/quarterly to provide some balance
  • Join an accountability/mastermind group to not only give you a place to vet your ideas but also a safe place to do some brainstorming
  • Put together a customer-based advisory group to give you some balance
  • Join a professional organization that will put you together with other business owners in different parts of the world.  You can learn best practices from each other…and not worry about competing

The message here — don't go it alone.  I know what you're thinking.  You are the one in a million business owner who can in fact, be objective.  Don't fool yourself.  That's like asking someone who's had 10 shots if they're okay to drive.  They may think they're okay….but you'd better get a designated driver.

Be sure you've got some smart and loyal designated drivers at your side as you begin to make decisions for '09 and beyond.

Okay….I'll share if you will.  Have you ever tried any of the suggestions above?  Which worked best for you?

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