5 Things Every Rookie Business Owner Should Know

5 Things Every Rookie Business Owner Should Know

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5 Things Every Rookie Business Owner Should Know . Many people who decide to manage their own business have very little experience in the business world.  Add to that the fact that they need to go through a lot of ups and downs before they could even peek at success and sustainability. If you consider yourself a rookie in this complicated, but definitely rewarding endeavor called business, here are some of the many things that you should know.

Customer service is a way of life.

Kayak.com engineers are strictly required to answer customer service calls and emails at work and that they are not allowed to be too busy for such task. It is because as they answer same questions several times for a couple of days, they would no longer be satisfied at answering these calls but will eventually find a way how to fix these issues so they would no longer receive and answer the same questions all over again.  Customer service tells you the right way towards fulfillment and productivity.

Rejection helps you succeed.

Studies reveal that successful salespeople are those who have learned to deal with rejection.  In fact, most of them even become thrilled at the thought of rejection. For them, the first “NO” uttered by their potential customers would mean that they should be prepared for better options. The second “NO” means that they should find other means of convincing them.  The third “NO” means that they should continue looking for ways to make it all worthy of a “YES” at the onset of the conversation.

Failures are lessons to learn on.

As a business owner, you should not only be obsessed with achieving your goals. You should also be equally obsessed with the process of achieving these goals. And, the process must include failures, mistakes and setbacks.  Without these, one will never be able to learn what it takes to be successful. These failures should serve as lessons to learn on not as reasons for you to stop giving your best shot.

Record keeping is tedious but crucial.

Keeping up-to-date records would definitely seem easier said than done.  This requires tedious efforts and consistency.  But, complete record-keeping can save you a lot of hassle especially when tax season approaches.  You may think that you have no time for this and that you would rather hire contingent labors to do record-keeping.  But, this habit may backfire if some parts of the record are not well-documented and the contract with that contingent labor already ends. At the start of operating your business, you should hire someone who will be tasked to devote much time on record keeping. It is better to pay someone with a specific salary on a regular basis than risk hiring other people who will do the job haphazardly and have difficulty finding answers to some questions when you need a specific info.

To delegate means you are giving your business the chance to grow.

One common mistake of budding entrepreneurs is that they would try to do everything on their own and avoid entrusting several things to other people for fear that  others will not be able to do it right. But, only to find out that taking everything on their own would make them lose objectivity and end up failing in so many aspects of their business.  Delegate tasks and give others and everybody involved the chance to grow together with your business.

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