County Agent News

Dan Folske

April 25, 2011

Set Your Business Startup Priorities

Your business is open. You know that expanding and maintaining the business will be a challenge, but you feel you are ready for it. Yet as you look at all of the things you need to do, what should be your priorities? 

This question is one that all business owners face on a daily basis. How owners respond to it varies widely. 

“Some owners seem to understand what they need to do and when they need to do it. However, others just seem to struggle, unsure of what to do first.” 

While everyone approaches how he or she operates his or her business in a different way, business owners need to be aware of some key steps that can lead to the success of their business and minimize their mental stress. 

“One of the first things that the owner must recognize is that he or she is in business,” says Glenn Muske, rural and agribusiness enterprise development specialist for the North Dakota State University Extension Service. “This dream is no longer just an idea, nor is it a hobby. The owner must make business decisions. Terms like sales, profit, revenue and customer service should become part of the owner’s regular vocabulary. Each and every decision must be evaluated from the perspective of business growth and development.” 

Along with recognizing that he or she is in business, the owner quickly must develop an understanding that customers are key. This may seem understood, but a customer focus goes beyond thinking of customers just in terms of sales. This concept includes: 

* Building a relationship with customers 

* Developing a customer base of people who return on a regular basis 

* Encouraging the customer to tell others about the business 

* Listening to the customer for problems and new ideas/products 

Another important behavior successful business owners demonstrate is focusing on what matters. Business-success writers would condense what matters into four areas: 

* Get revenue 

* Get new customers 

* Keep existing customers 

* Minimize or eliminate costs 

“Another issue for some owners may be putting off decisions,” says Muske. “If the owner has identified an issue, then it must be dealt with sooner rather than later. It also is important that the owner deal with the problem itself, not just the outcome, but why occurred.” 

Successful business owners are aware they need to close the gap between what they know and what they do. And they know they must do this in a timely manner, soon after finding a problem, because they realize that ignoring an issue rarely solves it.

Successful owners also understand that listening and taking an appropriate action casts the owner as a role model for employees, customers, suppliers and the community. 

“So as you open the doors to your new business, take a moment to enjoy that good feeling,” Muske advises. “And then to keep yourself on track, learn and focus on your business priorities.” 

The NDSU Extension Service has resources to help business owners understand their business priorities. Contact your local Extension office to learn what assistance is available. More small business information is online at www.ag.ndsu.edu/smallbusiness/. Visit the site to sign up for regular small business updates. 

eXtension, an educational partnership of 74 universities, including NDSU, that provides objective and research-based information and learning opportunities to help people improve their lives, is another resource. Visit www.extension.org/entrepreneurship.