Running a Business Together Myths: It Needs to Be High Tech |

Many couple entrepreneurs believe that while running a business together everything needs to be new, with the latest and greatest high-tech before their business will be or look professional. Yet, many successful couple-run businesses are little offices, little dive restaurants and small home based business run out of a garage.

Technology is important but can be a dangerous myth when you believe it is what makes your business successful. You can hide your insecurity or blame and your lack of success on old technology, but that is usually just an excuse you are using, to hide the fact that you run a business poorly. Technology is nothing more than a tool.

Technology improves so fast that we often feel pressured to keep upgrading the technology in our business as if that was what was going to improve our business. This pressure is a lie. Many couples that are just starting a business invest way too much money in technology they won’t use or don’t need. Technology is a huge investment and usually and expensive one.

When you start your home based business, you may really only need a computer with a simple internet access and some basic software applications. Don’t drown yourself in debt getting high-tech equipment you don’t need now but will need at a later date.

You can even get away with buying a refurbished computer inexpensively for your home office. Dell has several great refurbished computers that will easily run a home based business, around $400 to $700.

Starting a home based business does not have to be expensive. When you both are in the startup phase it will be important to start a business and run it lean, meaning, not spending tons of money on it. Be frugal with your money. What really makes a business succeed is you.

You don’t need to be high-tech. You need to be functional tech and your solution, products, client care, and leadership, that is what is going to make your business stand out above the rest. Yes, I know you have heard it all before but in the words of Steve Jobs, “Be a yardstick of quality. Some people aren’t used to an environment where excellence is expected.”

Apple became great when Steve Jobs ran it not because of technology, but because of the excellence he expected and put into his products, designs, expectations, team and leadership. These are the areas that will always demand your best abilities. When you create that, on last years technology, you will both have a great business, an amazing relationship, an amazing life and you will achieve success together.

How to Run a Successful Small Business |

Almost anyone who has ever learned business management, or has ever been interested in building their own business, had probably come across the following:

  • Business strategy
  • Breakeven point
  • Financial reports
  • Cashflow
  • Business plan
  • Positioning
  • Market segmentation

Whilst knowing these terms is very important indeed, why is it them that so little small business owners actually practice them? Why is it that the small business owner so quickly deserts those promises they made when they set up their business? What’s actually happened to this cashflow they said they’d keep an eye on, what happened to their business strategy? What is actually going on with these businesses once they are set up and set off, where do they all eventually go?

Let’s unveil the mystery behind the failure of small businesses.

What happens to small businesses- here are some statistics.

Unfortunately, statistics are pretty bad, Coming to think of that, they are quite cruel and evil. If you think about it, just looking at them can potentially discourage almost anyone who has set his mind on building their own business. Who in the right mind would want to do this after reading this;

According to the NY Times, only 48.8% of small businesses actually survive the first 5 years. That is 48.8%!

Undoubtedly, this is a quite scary fact and it does actually make you think twice if not three times, no?

But, fear not, if we look straight into the eyes of the statistics monster, we can see what is actually happening to these businesses, we can see right through it and crack down what is happening on that first year of running your business, what is going on there that makes all that positive energy go to waste. And even worse, what is actually happening there that makes that business owner, lose faith, stop dreaming and even bit himself up for even trying. What makes him eventually crawl back to this life of compromise, the same life only a few months ago he wanted so much to escape from. It is actually quite sad to think how many tried to follow their dreams, failed and gave up.

So what is in fact the real reason for all those failing new businesses?

Well, there are many reasons.Some would say it is;

  • The fierce competition.
  • Bad market analysis.
  • Poor marketing.
  • Wrong product.
  • Low demand.
  • Incompetent employees.
  • Lack of strategic planning.
  • Bad economy.

Virtually, any management term you can think of, can make your business collapse quite easily. Any one of these can kill this dream of yours.

But let’s start climbing a little bit. Let’s try and nail the real reason for failing businesses. Let’s climb to the top of the problems.

Let me tell you a secret, those reasons look good in business articles and in management magazines, a lot because they sound good and they are quite fancy management terms analysts like to use. These Business analysis and senior managers love those terms so much they keep using it in their jargon, so much so,until the small business owner feels inept,under educated and wants to run and hide on it’s first crippling fear that his business is not good, and that he is a dreamer and has no business setting a business of his own.

So what is the real reason? Let’s say that you have overcome your fear and you are feeling quite confident. You set up your business. So why does it eventually fail?

What is the real reason?

The real reason is lack of control over the business!

Let’s climb up a little bit further, up to the top.

The real reason is-lack of time!

Let me ask you a question. As a business owner, what is your real profession? Can you give an honest answer?

What if I told you, that your real profession is in fact a firefighter?

The firefighter is quite an accurate description for a small business owner. Let’s talk a little bit about firefighters.

Firefighters don’t really know what their day will be like. They are in waiting position. Suddenly they get a call, they rush quickly and get on the fire engine.They turn on all the sirens and red flashing lights,drive like mad to the scene of fire, often arriving late.

Use everything they have, to try and put out that fire, and then go back to the starting point, back into this waiting position until the next fire. From one fire to the other, their energies dwindle and their level of energy and vitality drops. They carry on with their day,hoping that no new fires will start. But they can’t really know for sure.

Test yourself: Are you a firefighter?
Do you:

  1. Guess how many expenses you have
  2. Guess what your income is
  3. Forgets to send invoices
  4. Late to meetings or ill-prepared for them
  5. Don’t keep deadlines
  6. Give up well deserved on income
  7. Your pricing is low and you compromise on the price even more
  8. Don’t do enough to get new costumers
  9. Don’t plan!
  10. All the answers are correct