Running a small business when even big businesses are sinking fast can be tough. Much of the guidance in books and media are about running big businesses but what about micro-businesses or sole employment? Problems in bigger businesses get scaled up but for the smaller business, it can be about shaving off everything to streamline the work and go it! Here are some tips I have picked up from various small and micro creative practices and organisations-
1. Do not put all your eggs in one basket- diversify! That way when one source of income dries out, there is another way to earn money and keep afloat.
2.Keep looking for work, even when you have work. Think of work in terms of venn diagram. One of the circles is your current work while the other circles can be future work, so the overlapping area is where you look for work or develop a project.
3.Be patient- don’t give up on your dreams! It is easy to be discouraged when working small and everyone else is making it big but don’t give up. Candy crush saga which is now a billion dollar business took ten years to evolved from very humble origins.
4. Delegate- for a small business which is trying work, generate income, promote itself to get new work, everything can be overwhelming. So cut down on meetings, events, and delegate as much as you can. Trim away negative people from your life.
5. get a mentor- find someone who has done similar work to you and made a success of it, then request them to become your mentor. You’d be surprised to see how this will not only help you but the person mentoring you will also take it upon themselves to make sure you succeed. Copy the best. Get feedback from your mentor and other people you respect.
6. Focus on a simple idea to start- think of where you may want to be in two, five or ten years time and then work towards that.
7. Get a great and memorable name for your business- it must be intriguing or easy, so that people ask or remember you by it.