You can be soft, but make your contracts tough
In the same way that excellent fences create healthy working relationships, good contracts do as well (or neighbors, in the case of fences). It is of the utmost importance to explicitly define what each side expects from the working relationship and what they will contribute in return.
Handshake agreements may, on occasion, be successful, but when they fail, the results can be disastrous, and the situation may have been avoided altogether. A small business grant might also help in this area.
Therefore, you should always take the time to create a contract that you are comfortable with, that both parties understand, and that has a clear “exit” clause that you and the other party both agree to.
Learn from the things that scare you, and rush toward the things that scare you
One of the ideas that is disseminated online in the name of providing “pep talks” is the concept that a person ought to focus on what they are good at and what they love doing, and forget about everything else. However, the remainder consists of a great deal of vital components that will be of great assistance to the development of your company. Recently Google learned this lesson, the hard way!
If there’s something you’re not very good at, you should try something new to learn about it that compels you to at least get a little bit more familiar with it. Take a different photography lesson if you feel like your skills are lacking in that area. Start a podcast or event series where you will be required to get acclimated to public speaking and interviews if you, like me, used to be frightened of doing either of those things.
You change and your company changes – not always in the same direction
Most small business owners take satisfaction in being involved in or in charge of every aspect of their companies’ operations. Even if your firm grows slowly, this will eventually hinder it. Your business needs you to take a break, consider the big picture, and meet with professionals to help you scale and flourish.
Even if you don’t want to sell your firm or become famous, you’ll need to spend some time on the business side of the project. I felt guilty for years before realizing that anyone who would be truly furious and turn away from me already had.
Leaving can be lovely
Okay, here’s the last point. Nobody likes discussing endings. We hear about people selling businesses for huge amounts of money or taking on investment funds and getting paid, but most businesses end or are given to someone else in a quiet way. Not everything ends the way you or your audience thinks it should.
The most important thing is that no one can tell you when to shut down your business.
Your internal clock winds down at some point, and the small business you put your heart and soul into begins to curdle in your stomach. If that happens, you’re fated to go away and do something else. Join a monastery. Buy a farm. Teach in Albania.
If you want to, you can close the book and move on.