Defining Business Success

By Theresa Harvey, President and CEO

Small business is the heart of every community. As Chamber President, I have interfaced with a variety of business owners and entrepreneurs. What is it that separates successful entrepreneurs from those who struggle or fail? Below are some of my observations from years of being a business consultant, observer and supporter.

1) Be Passionate. Starting a business takes time. Many successful business people faced failure before finding success. You need to love what you are doing. Thinking about your business day and night will be difficult to do if you are distracted along the way. Passion will aid in your efforts to be creative and maintain the energy it takes for success.

2) Be innovative. Make sure you are offering fresh products, new services and unique ideas. By continually innovating, you will be able to anticipate the marketplace and adapt to new opportunities. Innovation wins.

3) Take risks. Mark Zuckerberg once said, “The biggest risk is not taking any risk…In a world that’s changing really quickly, the only strategy that is guaranteed to fail is not taking risk.” I add, make sure you carry a parachute. Great risk can also mean great failure. As an entrepreneur, you must be willing to take great risks…financially and personally. Whether that is a financial backer or a person willing to listen, develop your support system.

4) Be a leader. Positioning yourself as a leader does not mean you have all the answers, but establishing yourself as one who is capable of being confident in the decisions you make can help establish your reputation. The relationships you establish help you build loyalty and trust among your employees, your customers and your investors. Your ability to establish yourself as leader gains your company credibility, loyalty and strength.

5) Look for mentors who can guide and assist you as you fulfill your dream. Whether it’s at your local Chamber of Commerce, your SCORE office, the SBDC or a trusted friend, talk with those who can assist you along the way.

This issue of Issue we took an opportunity to talk with a number of business leaders to discuss what has made their small business enterprises successful.

Portrait by Paul McKelvey