11 Things I Have Learned In 11 Years at the TSBDC

I started my Tennessee Small Business Development Center career on March 27^th, 2007. 

I provide free one-on-one business consulting and get to teach workshops for small business owners too.

Calling this job rewarding is an understatement.

I’ve seen the highs and lows of the economy and I’ve seen businesses come and go.

And I also learn something new, EVERY SINGLE DAY.

With that said, below are 11 things I have learned in 11 years.

1. You always have to start with a goal.  Trying to improve a situation is pointless without a goal because you won’t know what you are striving for and what steps are needed to get there.
2. Business plans are overrated by people that think they need one to even take step one in their business.  Business plans are underrated by people that think they should just fly by the seat of their pants and not document anything.
3. If you don’t have a target market you don’t have a business.  If everybody is your target then will get nobody.
4. Businesses that don’t have a distinct competitive difference are in trouble.  If you can’t tell your potential customer the difference between your business and your top competitor, your potential customer will not have a reason to use you.
5. Joining the Chamber of Commerce can be very beneficial for your business, if you are active in the chamber and make an effort to get to know people.
6. Business owners that read books make more money than business owners that don’t read books.
7. Nobody can find that awesome $10-$20/hour person right now.  I think we quit making them.
8. Don’t hire salespeople if you can’t personally sell and if you won’t train them.  That is setting someone up to fail.
9. Successful business owners really understand their financial statements.  And they outsource their bookkeeping or hire someone to do it.
10. I always ask someone that wants to start a business to attend a Starting a Small Business Workshop.  There I will answer most of their questions and then they will probably have 20 more questions that will pop up.
11. You MUST create a good culture if you have employees.  Untrained employees that you don’t engage regularly will kill your business.  

That’s just 11.  There are probably forty-eleven more (yes, that’s a number I made up) that could be added to the list.

Feel free to add any you would like to add in the comments section.