Why are managerial skills so important for small business success?

“These skills are necessary in any business in order that the owners know if it is operating efficiently, effectively and profitably.  Without sufficient business acumen, one may not understand the difference between profit and cash flow.  For example, revenues may exceed expenses creating profit, yet have great amounts of cash tied up in receivables.  Even simple consulting practices or full-time contract contributors need to understand the economics that drive their businesses.”

Quoted from  The Successful Entrepreneur, Second Edition, now available in print or eBook from Amazon.  Or contact http://www.yorkinc.com.

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Why are entrepreneurial skills to critical for a small business?

These are the skills needed to maintain business viability as market conditions change and to know not only what people need, but what people will buy.   In the information age, markets change with great rapidity and frequency; therefore, unless we can anticipate the timing and the direction of change, we may be making the finest buggy whip going, when there are no horses left to whip.   

Quoted from  The Successful Entrepreneur, Second Edition, now available in print or eBook from Amazon.  Or contact http://www.yorkinc.com.

How can we build a self-image for success in our own business?

“Two powerful tools are available for our use in building our own self-image.  First, we can create the vision of the person we wish to be.  Our minds are goal-striving mechanisms that produce the motive to act in effective ways to achieve a desired outcome when a stated stimulus is truly internalized through consistency and repetition.

The second tool is the positive use of  the thoughts and words we say to and about ourselves.  Called affirmations, constantly held thoughts of positive expectation, stated in the present tense, will affect change in our belief about who we are and what we want to become. ‘Thoughts held in mind, reproduce after their kind.’   The more we affirm the truth of our being, the more our consciousness will change from negative to positive with the result that we will become the person we desire to be.”

Quoted from Thriving in the Changing Workplace, now available in print or eBook from Amazon.com.  Or contact http://www.yorkinc.com

Why is an owner’s comprehensive awareness critical to the success of a small business?

Unlike the corporate executive who has a staff to whom can be delegated roles and responsibilities, the small business owner must be responsible for the majority of functions him or herself.  In short, it’s the owner who must know what’s going on in every facet of the business, even if others are operationally responsible for achieving specific objectives.   Maintaining a finger on the pulse requires frequent communication and feedback to determine performance effectiveness.  The small guy can’t make many mistakes.  Large businesses round off more than a small firm grosses.”

Quoted from  The Successful Entrepreneur, Second Edition, now available in print or eBook from Amazon.  Or contact http://www.yorkinc.com.