S2E78: Three Things Every Business Owner Should Do

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Join hosts Anna Steinfest and Michael Troyer in the latest episode of Small Business Survival Conversation, where they delve into the crucial aspects of business preparedness, expectation management, and maintaining a positive outlook. In this insightful discussion, the hosts draw parallels to the meticulous preparation of an attorney entering a courtroom to emphasize the importance of being well-prepared in the business arena.

Always Be Preparing:
The episode explores the mindset of anticipating the questions and concerns of key stakeholders such as customers, investors, loan officers, and employees. Anna and Michael emphasize the significance of having answers ready to avoid assumptions that can lead to negative perceptions. They stress the need for confidence, acknowledging circumstances when unprepared, and continuous preparation to stay ahead.

Establish the Right Expectations:
The hosts guide listeners on the art of managing expectations, both internally and externally. They advocate for confidence while leaving room for flexibility. Avoiding the cliché of "exceeding expectations," they encourage going beyond set expectations and discuss the lasting impact it can have on how others perceive and remember your business.

Maintain a Positive Perspective:
The episode concludes with a focus on maintaining a positive perspective. Anna and Michael stress the importance of continuous planning to excel in current practices and adapt to changing conditions. They advocate for having alternative scenarios, strategies, and ideas ready in advance, highlighting the strategic role of business owners and leaders in steering their firms through dynamic environments.

Tune in to this episode for practical insights that will empower small business owners to navigate challenges with confidence, set realistic expectations, and foster a positive and strategic mindset for sustained success. Always be preparing, establishing the right expectations, and maintaining a positive perspective are the keys to thriving in the ever-evolving landscape of small business.