What Kind of Business Owner are You?
By Jacqueline Mumford, Business Development Assistant
Whether you’re just starting up, you're growing, or you’re getting ready to wind down, the world of small business can be stressful and scary. As a business owner, or someone in the top management, you’ll be required to juggle a lot of different balls, play many roles and really hold down the fort. Sometimes, when you’re looking at your business from so deep within, you may lose sight of your management style, how your team is operating, and, really, what the future for your company really looks like.
We’ve created a quiz to help you pinpoint what kind of business owner you are, and associated tips and tricks on how to best utilize your skills, and transform your shortcomings into incredible benefits. Take the quiz here, and then come back to see our breakdown.
If you were Strict Suzie…
- You always follow up! You’re so on top of things.
- You accomplish all of the tasks you set out to do.
- You’re very organized.
- You’re dedicated to your small business, and to seeing it succeed.
- You may be hesitant to try new things
- You may micromanage, or be afraid to delegate tasks
- You may lose time worrying about the details instead of the big picture.
Our main takeaway advice? Don't do everything yourself. Trust your team to do great work. Trust your gut to take a leap of faith. Trust your partners to give you good advice, and to support your small business as you work to support theirs. Ask for help when you need it, and don’t be afraid to branch out.
If you were Money Manny...
- You’re excited about your small business.
- You recognize the importance of investing in the things you care about.
- You really want the best for your company and your employees
- You see the value of growing your company, and adding services, products, features and more to make it the best it can be.
- You may spend more than you have in your budget.
- You may prioritize wants over needs.
- You may struggle to be on-time to meetings, events, or keeping organized.
Our main takeaway advice? Be honest with yourself and your clients. You want to be able to do it all. We get it. But, sometimes this desire gets the best of small business owners, when really, they don’t have even close to enough resources to deliver. If you wish you were able to offer more, build up your team, rethink your mission statement, and add those new services!
If you were Frugal Freddie...
- You value a well-thought out, balanced budget.
- You’re a planner, and your small business is organized
- You’re good at seeking out deals, and finding a bang for your buck
- You have a structured timeline and goals for your small business, all to be met without incurring any debts.
- You may prioritize price over quality.
- You may be slow to expand or improve your business due to high costs, even if it would be worth it in the long-run.
- You may not be paying staff, partners and others their fair share. Don’t undervalue your team.
- You may miss out on higher quality marketing materials, software, training and more, which would be worth the money.
- You may skip small gifts for collaborators and clients that, though they sometimes seem insignificant, can really go a long way in retainment.
Our main takeaway advice? Don't assume that spending money on the business should always be done cheaply. Oftentimes in small business, it’s not only okay to invest in new ideas, it’s necessary. Of course, it’s important that you do your research and confirm that the earmarked funds are going toward something that will further your business goals, but don’t miss out on big opportunities for fear of spending.
If you were Process Penny...
- You’re an idea machine! Look at you go!
- You’re able to bring out the creative side in everyone.
- You’re a great team leader.
- You’re innovative and quick to find solutions.
- You’re observant.
- You may not be very patient.
- You may get too wrapped up in perfecting processes that don’t need your attention nearly as much as others.
- You may find that you’re often disappointed in yourself when all of your plans or ideas don’t come to fruition, often simply because the timing wasn’t right.
- You may struggle to stay organized.
- You may have difficulty balancing your personal and professional life.
Our main takeaway advice? Think with more perspective. Write down all of your ideas, and group them into reasonable timelines. Share them with those who would be impacted, and who you think could help, but don’t be too pushy, or decide alone that now is the time to implement them. Be patient with those around you, but retain your excitement about innovation and improving your small business. You’re valuable!
Do you need help changing some of your small business attitudes, building a new structure for your small business, creating a sustainable budget, forming a better team, or something else? Schedule a FREE consultation with us here.