Succeeding at Owning Your Own Business

Owning your own business is like taking a leap of faith for yourself and those around you. It’s risky, but you take the chance because you believe in yourself and know that the outcome will be worth it. Many people view owning your own business as such a daunting and overwhelming journey. A study by Bloomberg states that 8 out of 10 businesses fail within the first year of their existence. For us at Burgan, even more than 40 years after opening our doors, we still operate with a mentality that we need to be better.  

We believe doing things right.  We believe in being transparent in everything we do and that learning from experience is the best educator.  If you are trying to start up a business or figure out a way to make your business better, this week’s Motivational Blog will provide some tips and advice on how to be a successful business owner and thrive.

Listening and understanding goes a long way. 

The most important part of any communication is listening.  While listening to the customer talking to you, stay focused and retain everything they’re telling you. Trying to think of the best possible answer to give them while they’re still talking can lead you to possibly miss key information that the customer could give you. Odds are, when you truly listen fully to what the customer says, you’ll know how to answer them effectively and respectfully. 

Face-to-face interaction is still the gold standard. 

In a previous blog, we told you how important it is to disconnect from technology every once in a while.  Do not let technology be the dominant means of communication for your company. Businesses still have people running them, and there is someone at the end of that phone call or at the receiving end of that email. Human contact and face-to-face communication is still more effective and more valuable than an electronic interaction. Treating people as people instead of just employees, clients, or deals will help make your endeavors more effective. 

Find the overlooked problem. 

All businesses set out to solve a problem or offer a service to their consumers, but sometimes can go blind to what actually needs to be fixed. Being too focused on what you have to offer or what you think the problem is can lead you to overlook or miss what the actual problem is and what the customer really wants. Take a step back, and from the outside looking in on your business, try and find what your customers truly need and the best way that you can provide this for them.  This will give you a sense of relevancy to your customers and always make sure they think of you if and when the problem arises again, making your business one that never goes away.

Don’t give into the doubt. 

When you own your own business, uncertainty and stress is something that will never go away.   It won’t always be a smooth journey as obstacles and bumps in the road will happen every day. Mistakes will be made and lessons will be learned, and that is good. Let this happen. You will never grow as a business owner if this does not happen. Surrounding yourself with a good support system of people to lift you up when things start to get tough is extremely important. A support system will help you through tough times, don’t go at everything alone and don’t give in to doubt as it creeps into your mind after a tough day.

Not every business is guaranteed to pan out and become successful. It is a challenging and uncertain road, but the result is worth the struggle. These tips can be a step in the right direction for your business to reach the success that you set out to accomplish from the start. At Burgan Real Estate, we strive to live by these tips and values, and it has helped us be real estate expert in the Mahoning Valley for over 40 years. Staying true to the dedication to our business and doing things right in our field has allowed us to succeed along the tough journey of maintaining our business’ success, but it has been more than rewarding.  We couldn’t think of doing anything better. 

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