We’re continuing in our series on questions you should ask yourself if you want to start a business or have already:
Some of us are more of a risk-taker than others. Take myself and my husband, for instance, …here in the Sickler house we refer to him sometimes, as the “safety guru”, because he’s the one that keeps the kids (and myself) from taking unnecessary risks – I feel like every household needs one of those types. Myself, on the other hand…I tend to like the rush of taking risks – I ride the scary rides and sail through uncharted waters. I like the surprise and the thrill of not knowing what’s up ahead!
When we talk about risk-taking in the business arena, we’re talking about needing both types.
I have 2 new questions for you this week – if you’re a business-minded person, I’d love to hear your take on these questions which I also do as a FB live video every Wednesday at approx. 1 PM here: www.facebook.com/mountainharvestmedia
This piggybacks off of the last question 2 weeks ago, which was “how much power do my customers have?”. Rather than the concern of losing business, though, this component has the possibility of stealing your money in unfair price-gouging which will cause you to have to increase your retail price, which may drive away clientele. They both have negative implications if you’re not careful. Last time we decided that, in order to maintain control over your business and not allow clients to dictate what you do, you need to either expand your customer base or always appear confident and not desperate when dealing with clients.
We’re back with some of the most important questions to ask yourself as a Colorado small business owner or manager.
Now, I’ve heard there are some dumb people out there who think they have no competition. I call BS. EVERYONE has competition. It is cocky and naïve to think otherwise. Yes, you may be at the top of your industry, so you might FEEL as if you don’t have competition, but that was the downfall of the Hare when he lost to a Tortoise, so it’s time to drop that act, STAT. Know your competition, even if you are the best right now, because if you’re not paying attention to who they are and what they’re doing, they may just pull a fast one on you as they begin to notice your weaknesses and capitalize on that, becoming strong where you’re weak and pulling ahead.
So – do some homework…