7 Tips From Successful Small Business Owners

The phrase Starting Strength" (SS) has two distinct meanings. Never lose sight of why you went into business in the first place — perhaps you had a niggling small business idea that kept you up at night, you noticed a gap in the market or you wanted to share your expertise by offering your services to businesses or individuals who need it.

One reason software-as-a-service (SaaS) has grown so rapidly in popularity—Forrester Research estimated $170 billion in cloud subscriptions in 2020 item496882978 even before COVID spiked work from home—is that SaaS gives even the smallest businesses access to advanced technology on a pay-as-you-go basis.

A surprising percentage of business owners, who are some of the hardest-working people on Earth, tend to get a little lazy or sloppy with their personal finances: they spend too much, they don't save enough for retirement, they make excessively risky investments (or make the mistake of parking their money in the bank and earning 0% interest).

Especially if you're a solo business owner, you can lose touch with other business owners," says Kelly, who 15 years ago started The Handwork Studio, a Narberth, Pennsylvania-based company that runs needlework camps and classes for kids in 10 states along the East Coast.

The Hartford Small Business Association recommends creating five-year, one-year and quarterly strategic goals Those quarterly goals should be further delineated into monthly goals, which will inform your day-to-day business operations and keep you on your chosen path to success.