Follow your passion and don’t let go. Your business probably stems from something you’re passionate about, but over time, the day-to-day running of the business makes it hard to keep that passion alive.
Fuel it daily by reminding yourself why you started your business. Make sure that you fall in love with a problem, not a solution. If your first solution doesn’t work, fall back on your passion for solving that problem to find another answer for your customer.
Cash is king. Running a business is an art and a science. The art is your passion. The science is your business model. Make sure you understand your own business model. It’s not something to abdicate to someone else. Understanding money-in, money-out, is critical to business success. Ignorance is not bliss. If you know how your business is doing at every moment, you can celebrate your success or plan for how to get more cash.
Hire smart. Hiring a team is thrilling but also scary. Take time to hire the right people for the right job. Fire them quickly if it doesn’t go well. As a small business owner, you can do anything but you can’t do everything! Hire people who love to do what you hate to do so you can focus on your dream and evangelize your passion.