Owners of Small Businesses: You are unaware of everything.

Owners of Small Businesses: You are unaware of everything.

A lot of business owners decide to start their own company when they have an idea for a product or are fired from their corporate jobs. They may be able to manufacture their product or provide that service, but they know very little about running a business.

In addition, running a business requires a different set of skills than offering a product or service. You need to be skilled in business in order to succeed in business. Admitting that you don’t know everything and looking for ways to find out what you don’t know are the first steps.

The next step is to fill in the gaps in your knowledge base. You are already on the path to failure if you are thinking, “I am too busy building my business to learn what I need to know.” You will eventually reach a point where the gaps in your understanding of how to run a business will force you to make the wrong choice and put you on the path to failure. Or, it could be a series of poor choices that lead to a steady drip of missed opportunities, mistakes that are right in front of you but you don’t see them, or a failure to act to stop problems before they get too big.

You have to get used to the idea that other experts can help you learn more, even though you are used to doing everything on your own. Even if your business has grown, knowledge gaps may prevent you from reaching even greater success. Don’t fall into the trap of thinking that you have to take care of everything on your own. Recognizing that you don’t know everything about running a successful business and speaking with experts who do are the keys to success. Learn from experts in legal matters, accounting, marketing, and human resources.

Ask your accountant, lawyer, or marketing specialist, “What questions should I be asking you that I haven’t asked you yet?” to find out what you don’t know. That’s how you find out what you don’t know, and if you do that with as many people as you can, you’ll learn everything you need to know to run a profitable business. Don’t be afraid to ask the pros to help you fill in the gaps in your understanding. It might mean the difference between failure and success.

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