The question is, can I be rich and still have a small intimate business that I am comfortable with leading and directing? The average small business owner adores the intimacy of their little company and oftentimes their dedicated customers do too.

But there is money to be made, and in efforts to increase profits many businesses equate that with growth. But is growth (in the traditional sense) always our friend? Companies can literally grow in size with more employees, more buildings and more overhead expenses. But this is not the only way, and to some it’s not even the best way. If you are prepared to think outside the box, then here are three key smart ideas for any savvy small business owner:

1. NICHE IT OUT. For many of you, if you have heard it once, then you’ve heard it one-thousand times. And here it is again: Don’t try to be a jack of all trades. Choose your focus and work that niche to life. Just be sure to choose an area that is small enough for you to be the big fish and large enough to support your success. In other words, if you sale travel, then consider focusing on luxury or trips to Jerusalem or family vacations, and then become the quintessential expert at it. Every entrepreneur has to figure out what makes them different and your niche helps to distinguish you from the crowd.

2. OUTSOURCING. If there’s one trap that the typical small business owner falls into, then it’s trying to do it all yourself. But in the spirit of niching consider focusing your energy on what you and your core team do best and then outsource the rest. And before your mind jumps to The 4 Hour Workweek and your new Indian assistant half-a-world away, consider local manufacturers too, as well as marketing and consulting firms, printing companies that you can get your hands on if something goes wrong. And if you are more adventurous, then there are a world of resources just waiting for you including that Indian assistant half-a-world away. Help is a good thing. We recently started outsourcing some of our printing at the church and it is a time and money saver.

3. TECHNOLOGY. Your number one money saving and time saving tool will easily be the technology that you choose to use. You can hand address 200 hundred envelopes or you can print labels and save time and hand cramps. You can keep a Rolodex (you know like the 80s) or you can keep them in your Blackberry and sync them to your laptop. You can track your clients manually or you can use a smart database to make it easier, faster and more thorough. These suggestions are not new, but sometimes we just need a reminder and a nudge. And yes, technology comes with a learning curve, but after you do learn how to use your new tool, it adds color, freedom and time to your business life.

Just remember to do your homework and then dive in with both eyes open, but dive in.

If you haven’t had enough of this kind of “office talk” then check out Mina Kimes’ article from the November 2008 issue of Fortune Small Business. She highlights how four smart entrepreneurs increased their profit margins, dramatically, while remaining small in size. And for your convenience, it is available online: When Less Means More by Mina Kimes.

-Ms. J-

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I grew up thinking that I could do it all.  And I realized that I could not be my own lawyer, my own doctor, my own “whatever,” then I went into a panic because I was afraid that I could not trust people to keep their word.  In reality we need a team.  We can put systems in place to protect our interest but we need a team.

I learned this the hard way: The “I Do It Alone” TEAM, IDIAT for short, consists of only one member, YOU. While I can imagine how great you must be–I used to be that great myself–consider getting HELP!  Our long term success is connected to how well we can build and maintain the right team, because we cannot do it all by ourselves.  In the long run, we simply need help from all kinds of people.   Leadership at its core tests our ability to pull the best out of people. Below is a list of at least 5 kinds of people that you’ll probably need on your team.

1. INVESTORS. This is a team of financially sound people, companies or foundations who can provide you with capital as you build your business as a writer. Investors could be people who put money into your dream and expect to be repaid upon success or they could be grants that you have applied for and that believe in your project who never expect repayment (available primarily to non-profits). Ultimately, the people who help you pursue your dream are investing in you.  Invest in them by protecting the relationship.
2. TEACHERS & COACHES. Education is a constant. Your teachers may be from a local class taught by the Small Business Development Center (SBDC) or the author of a book (E-Myth Revisited is a great read for entrepreneurs) or an online course (the Small Business Administration (SBA) has more to offer than Cereal Boxes at the Grocery Store, take your pick. Most of it is FREE). How ever you choose to do it, Be Quick to Learn, because ignorance will make a fool out of you.
3. EMPLOYEES. This is possibly the most important team that you will build. They are a direct reflection of your company. They are the face that the community will see. It is your job to shape the team that represents you. Choose wisely and learn to lead well. Remember, you have teachers and coaches on your team, seek out the ones with the type of leadership skills that you need and learn. At this point you may not have any employees. And if you are the typical entrepreneur, you have mentally resigned yourself to do all the work forever until your kids grow up and take over a business that they have never showed any interest in. However, if you picked up E-Myth Revisited (and I know that I just mentioned it) and read it or listen to it (audio books are wonderful), then you are well on your way to building something that will last, whether your children come aboard or not. Besides, they may fall in love what you’ve created, if it leaves them with the freedom to live a balanced life, their dreams and yours.
4. ADVISORS. You wage your war with a multitude of counselors. This is a team of specialist assembled by you who will help you move the company forward. These are people that you trust in their area of expertise. You will seek advice and knowledge from them; then armed with information; you’ll be qualified to make a more intelligent decision as you build your business. Advisers cost, usually with hourly rates, find out what they are before you need them. There is, however, more than one way to peal and apple. Consider forming an Advisory Board of highly skilled people who you respect. People that don’t mind if you pick their brain in their area of focus. SCORE is also option. It is a great place to find retired experts, and if they are members of SCORE, they are prepared to advise or mentor at no cost to you. Speaking of mentors . . .
5. MENTORS. This is the person(s) who has been where you want to go. You may have multiple mentors for different areas of your life or just one for a season who will take the time to pour into you, but you have to learn how to be mentored in order to maintain this relationship and reap the benefit. Mentors owe you nothing. It is your job to recognize what is inside of them and respond to it by making yourself available to learn from them. If they are teaching, be there. If they need help (odd jobs) in an area that you are good it, then offer your services for free (you want more than just a check from them, you want access, you want to learn).

Choose your members for ability and character. Identify and learn their weaknesses, so that you consciously inherit the best in them and leave the worst on the table. And be advised, it takes different skills to build a relationship with each member on the list. A great source for studying this as well as other powerful information needed for business success is the Think It, Learn It, Do It program by Robert Kiyosaki.

-Ms. J-

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Gone are the days when the artist could blindly trust his life and career to “the machine” for direction. We are required to be both artist and business minded today. From the page to the boardroom and back again, if our careers are going to reflect our character and style, we are going to have to become real leaders.

Leadership, that’s a word that seems to confuse. It’s not this overbearing, high minded, professional weapon that we use against the people who could help us reach our dreams.

The heart beat of leadership is service . . .

-Ms. J-

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