We've all heard this phrase before. The unattributed quote, thought to originate during the French Revolution has been uttered many times in popular culture, politics, and I'm using it now - for business management.
As new small business owners, we discover quickly that we have an enormous amount of responsibility. It makes sense because as a small business owner you really do have ALL the power.
The power to decide what, when, how, where, and why. You have the power to select who is your target demographic. You have the power to decide what it is you are going to create and sell to that demographic, be it a product or service. You have the power to set your price, to hire people, and pay them a wage that you have deemed appropriate for the work you are seeking to get help with. You have the power to decide when you're open for business, and what days and times you are not open for business. You have the power to establish the policies of your business for both patrons and employees. You have the power to decide what direction you want your business to go; you can decide to stay small and very active in day-to-day operations, or you can decide to grow big and hire a team to handle day-to-day operations. You have all the power.
With all that power, you have all the responsibility. You have the responsibility to operate your business with integrity. You have the responsibility to be appropriately educated in the world of business. Management skills, legal regulations, changes in your own industry may require you to learn new skills or adopt new policies. All of these are your responsibility. The buck stops with you.
As I have operated my own business I have grown to truly appreciate all of these responsibilities. I have used each of my experiences to do and be better. Better at financial management, better at communicating, better at evolving my service offerings, better at knowing when to implement new ideas and when to put something on hold. Better at getting help with things that I need while not abandoning the things that I should still be doing myself. Better at understanding boundaries, both setting boundaries for and within my business and at understanding the boundaries of others.
It's been 6 years this past June that I have been in business and I think the thing I appreciate the most from this experience is the personal development I have had while owning the responsibility for my business. And I look forward to helping my clients uncover these developments as they chart their paths in the small business world as well. It really is an honor and a privilege to be able to have all this power and responsibility.
Until next time, thanks for reading!
