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Assessing the Holes in Your New Small Business

There is only so much you can know or do at any given point. And there is only so much that matters when your focus is growing.

Even the best business is going to have holes in it. It’s easy to get freaked out by some of them or all of them, but it can’t be helped. No matter how sharp you are, they are going to be there, especially when you’re focused on getting your small business off the ground.

Make it a point to understand the severity of the issue, but also don’t let every flaw drive you crazy.

Remember that there are different types of holes: some will sink you quick, others can be managed for awhile without repercussions, and some matter more for aesthetics or polish than for business goals right now.

Big holes tend to be easy to spot, though not easy to fix. They are issues that limit the viability of your business model and reduce the impact of every dollar spent or earned. Examples of big holes are a high churn in your customers, bad cashflow or a manufacturer that can’t match the quality of samples.  You have to fix these or you’re not going to get far.

tiny hole in my t-shirt

Manageable holes are things that work but need to be improved or replaced. Examples of manageable holes are office supply costs that   could be cheaper (damn toner) if you had time to shop around or a CRM that takes you a lot of work to keep updated.  With these, you may be getting slowed down but nothings stopping you from operating — just make sure that you improve things as soon as you reasonably can.

The little holes are the ones that friends and family often get caught up on when they are trying to help. Maybe it’s a business card you printed at home, or your website is a simple brochure site without bells and whistles. These things don’t matter much when you start out. Remember them for a time when your business model is sound and you’re making money.

Featured image from wikipedia

Published in Rants Working Blog

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