What Small Business Owners Can Learn From the Olympic Games

After years of waiting, the Olympic Games were back with us once again and concluded with a spectacular closing ceremony on Sunday night. Whether you are the type of fanatic who tuned into London for every sport, or the kind of viewer who watched the highlights and medals on the evening news, it’s hard not to feel a lot of admiration for the athletes competing.

Of course, there are any number of lessons about perseverance, hard work, and even the spirit of friendly competition that just about anyone could benefit from. For the business owners and managers I work with, however, I think the examples we see playing out during the summer games are especially important.

Why? Because even though we are seeing moments of extraordinary personal success, they represent the culmination of a lifetime of work and sacrifice. That’s a task anyone who has tried to build a small business – and a strategic business development plan – from the ground up can appreciate.

It’s easy to lose sight of your goals when you’re in the day-to-day grind of finding customers and attending to the details. But, the next time you feel down, I encourage you to think like an Olympian and take the long view. How do you do that? Here are a couple tips to help you get started:

Measure success in the right terms. It’s so easy, especially when you’ve taken the time to devise a strategic development plan, to follow and measure your business development routine basis. Unfortunately, building lasting success takes a little bit of patience and focus on long-term trends, not quick reactions. Keep that in mind, and try not to be swayed by small fluctuations – good or bad – in the meantime.

Focus on your company, not the competition. No business can afford to truly ignore the competition, of course, but neither do you gain anything by devoting too much of your effort to them. Worry about your own customers, marketing efforts, and value propositions. Get those right for long enough, and you won’t have to worry about what other business owners are up to.

Want to start getting gold medal results for your business? Contact us today and see how we can assist you in the development of your business under our business review process. Guaranteed to “tick” the following boxes:

√              Increased Sales

√              Better Profitability

√              Improved Cashflow

√              An Independent Assessment of its current performance

√              A written roadmap and strategic plan

√              An adviser to work with you

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© Copyright Avid Partners Accountants and Business Advisers, 2012.  Avid Partners helps business owners and managers achieve success.  Clients can benefit from getting the best results for their business, minimising costs and tax while maximising personal wealth and financial security.  Visit our website www.avidpartners.ie and request a free consultation or register to receive our “Start Up Business Guide” which was designed to assist as a handy reference in a start up business and gives practical step by step advice or our “11 Proven Techniques That Will Improve Your Bottom Line” which is a fantastic collection of must know points on all key functions of successful businesses.

We look forward to talking with you should you wish to “profit from our experience”.