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Small Business: Taking the Good and the Bad
Welcome to our annual small-business issue. It is one of my favorite topics because it affords us an opportunity to peel back the anonymity of businesses and ask them specifically what they do to make a go of it.
Small private enterprises can appear unchanged from year to year, but theyre always evolving their services, products, and means of production. There are a myriad of small companies that make unique products that reflect the skills of the owner and staff.
Small businesses are like a hockey team. Players contribute their individual talents and skills to the team to make it successful. Invariably, employees in a company with ten or so staff members cannot hide behind layers of management. Players on a small-business team relate to each other in a closer fashion than those in the large firm where people can be anonymous. And the employees in small companies likely spend more time together away from work.
The owner is usually the coach who cares about his players and manages them considering their abilities. The small-business owner doesnt walk around calling himself the president, but when it comes down to it, he or she is the leader. If the owner cant lead, employees cant follow, and the business drifts aimlessly.
Employees have to be like-minded and match the owners vision for the work culture. If you are doing your job well, you dont have to tell the owner; hell already know and will reward you in the best way he can. If you do, youll be treated like family and enjoy your work time; if you dont, its going to be an unpleasant experience.
In the end, success or failure depends on each players contributions to the big job and leadership skills of the owner and how they add up where it counts the most, the bottom line.
Its interesting to see that the owners of small companies face many of the same issues and often connect informally with businesses of the same ilk. Through common ground, they share information on how to solve problems. Rarely do we find MBA or commerce grads in the ranks as owners of small business. But it does happen.
Small business owners have their trials and tribulations. They deal with hard-nosed bankers who keep them on their toes. They work longer than eight hours a day, are often late for dinner, and miss a few of the childrens sporting events or performances. Sometimes they take a salary and sometimes they dont. They directly face clients who dont pay for 90 days. And although they promise they will step away immediately if the business is flopping, that seldom happens. There are many small businesses for sale in Manitoba, and most are worthy of due diligence. Many, many owners do not think about selling their business soon enough. Its a sad day when a business fails, but it can and does often at that level. It is a proving ground of sorts.
So to all those small-business owners who know of what I write, congratulations for being who you are. MBM
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