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One Step Back, Two Steps Forward: Continuing Your SMB Journey After Hardship

small business journey

In this long journey, we call life, there are forks on every road. Decisions we must make, actions we take or leave. Sometimes things work out, and sometimes they don’t — it’s not a negative thing, it’s just part of our journey.

Would-be entrepreneurs — those who feel a calling to create their destinies by putting themselves out in the world in the form of their own businesses — may be hesitant to get started because the small business world can be a volatile vertical. This hesitance may go double for those who have experienced previous financial hardship because they have been burned before.

How can you move forward when you keep looking back? How can you begin to live your dream?

Turn to your friends

Use your friends, family, and business contacts as a sounding board for your next big idea. Let them know your fears. Tell them what happened to your last venture and why you think it didn’t succeed. Be honest with yourself and with them.

Meeting people through the people you already know is a great way to network — and a great way to surround yourself with like-minded individuals who can support your growth from both a mental and financial standpoint. Nurture these relationships. Make sure you are taking time to establish yourself as a good investment. This is because, when you invest time in the people around you, they will want to reciprocate that feeling. Putting good energy into the world will bring it all back!

Invest in the right technology

Spending money where you need to is also a lesson you should take to heart. In particular, having access to the latest tools and metrics can be a boon, especially if you’re unsure about your direction. Big data and analytics tools help indicate where your business is thriving and can help you pinpoint areas of improvement.

You should also invest in things like the right payroll system. Being away from the office is no problem with a mobile app that will allow you to implement flexible time tracking while on the go — something every entrepreneur or manager should do as it makes working on employee timesheets and managing your team easy and painless. Ensuring that your employees get paid on time (and accurately) in a relatively streamlined manner can mean all the difference at the end of the month — and can take at least part of the stress from you as a small business owner.

Be courageous

Sometimes, you need to make spontaneous decisions to move forward in life. That may mean applying for a small business loan (or taking the leap to invest in chickens). But no matter what spontaneity looks like for you, having the courage to move forward with your dreams and plans is a critical part of being an entrepreneur. There are a lot of stories about businesses not making it — but there are just as many success narratives. You will be able to carve your name into these places of success if you remember to put on your mantle of courage and seize the day!

Take that first step

No matter how you got here, you must choose to create your own path from here on out. Taking that first step into creating a business — and throwing your whole self into it — will be scary, but you can do it!

Are you ready to live your dream of running your own business? To take the next step on your journey? Learn how MMG Digital Academy can help you succeed.

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