What is the secret to small business success?
It seems simple enough. All you have to do is have more money coming in than going out.
If this is not happening, there are a few possibilities that need to be addressed in order to achieve small business success.
1) You are not a business you are a hobby. If this is the case you need to examine whether the enjoyment of this pastime is worth the time and effort or if something else may be more enjoyable or a better use of your time and efforts. There’s no shame in taking up a new hobby or starting a new business instead.
2) You are a start-up business. Many businesses do not make money while they are building their businesses. That’s normal. The important thing is to have a plan and be moving forward. Moving forward means increasing sales and decreasing debt on a schedule (plan) that leads to profitability at a certain point. If this is not happening examine whether you could in fact be a hobby. Or, perhaps you are in the process of transitioning from start-up, to shutting down.
3) You’re going out of business. If what you are doing is not enjoyable, is not growing steadily towards profitability, or lacks a plan (that can be radically adjusted) there is a problem. You may want to consider closing up shop as efficiently as possible. Don’t use existing customers or even employees as an excuse – they’ll understand that businesses that don’t make money can’t survive. Everyone involved needs to be working towards their individual fulfillment and personal success as well as the small business success..
Jeff Nicholson is the founder and Creative Director at 
