A wonderful opportunity or a nasty problem?

Things can improve exceptionally fast when you own a small business. Often so fast that they catch the business owner unawares. And a wonderful opportunity is replaced with a nasty problem.

I don’t want that to happen to you.

So here are some common things you should consider preparing for.

• Talk with your bank manager, in anticipation of a future, major project. Make sure you have access to the cash flow required, for what can be a sudden, huge spike in your outgoings.
• Contact your suppliers. Find out how quickly they can scale up if you have a sudden, vastly higher demand than usual.
• Keep your financial information up-to-date, clear and detailed. You’ll then be in the best position possible, if a serious party asks about acquiring your business. Keeping detailed information makes everything transparent. This encourages trust and can help you get the best price.
• If you’re hoping to go ‘viral’, contact your web host to make sure it has the capability to handle huge volumes of traffic. I’ve seen what happens when a server can’t cope, and masses of valuable sales and enquiries are lost. [I use these and they’ve been extremely reliable for years].
• And get some media training, before you need it. Learn how to speak on camera, how to talk with clarity and how to overcome any fears about there being a huge audience.

You get the idea. Be ready in advance.

All wonderful. No problem

The longer you’re in business, delighting your customers or clients and building your reputation, the more likely it is that something wonderful will happen.

So be ready. Get the maximum from the opportunity.

Because you’ve earned it!

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