Running a small business is challenging. As an entrepreneur you manage and balance everything from prioritizing projects, wearing multiple hats, keeping your sanity when the “going gets tough” and staying organized through it all.
While celebrity designer Robin Wilson, President and CEO of Robin Wilson Home, successfully serves an A-list design clientele, from Bill Clinton to Robert Kennedy Junior, she also managed to be named one of New York’s Top 50 Power Women by The New York Post.
As a successful entrepreneur and small business owner Robin offers 10 tips on how to be successful in business.
1. Use technology.
Consider business productivity tools such as a smartphone, Skype, tablet computer or programs that let you file and share on the run. My days have me running around the city to meet with clients, and I couldn’t do my job without technology.
2. Hire outside experts as consultants.
Don’t keep a heavy payroll which can increase operational costs; consider hiring a consultant for bookkeeper, social media, computer technology and graphic design.
3. Manage cash flow.
Watch your income on a daily basis until you fully understand the revenue and expenses; make sure your bookkeeper is your partner and does not just tell you “everything is handled.” Know how to review Quickbooks and feel free to ask questions, as it is your money.
Assign a task and don’t micromanage; allow your team to rise to the highest potential and if they cannot handle, then take time to understand why or make a transition.
Make sure that you have conversations with your team on a regular basis. Outline your goals and ensure that you have buy-in and dialogue. Also ensure your ideas are refined and can be executed efficiently without micro-management.