4 Misconceptions About Small Business

As a small business owner, you have probably already encountered plenty of misconceptions about small businesses. Most likely, people have offered you their unsolicited advice based on those misconceptions at parties or on airplanes. At the same time, there might be some misconceptions that you have as well or at least that you aren't sure about. Some of the common ones are debunked below.

Management Skills Don't Matter

Even in big companies, management training is too often overlooked, with those who are good at their jobs getting promoted into positions. In small businesses, this can also be a problem. You probably hired a receptionist because you no longer had time to answer the phone and a bookkeeper because you needed someone to handle the accounts, but you still need some management skills to make sure things keep running smoothly. Read a book or two on management to acquaint yourself with some useful approaches.

Small Fleets Run Themselves

A related misconception has to do with fleet management. Business owners sometimes make the mistake of assuming that a fleet manager is an unnecessary expense or that it is a job that can be done part-time alongside other responsibilities. None of this is the case. It is necessary to have a manager who can work with drivers to improve their safety, make sure vehicles are maintained and understand compliance. You also need to make sure that your fleet manager has the necessary tools for the job. One of those tools is a real-time GPS device, which can help in a number of ways besides allowing the manager to know where the fleet is at all times. These devices can also help lower costs, increase safety and more.

Your Time is Your Own

Whether it's fads that insist you can only work a few hours a week and still draw a huge salary, Instagram feeds that show influencers living the good life or simply the assumption that not having a boss means less time at the office, you might wonder if you're doing this entrepreneur thing right if you find yourself working longer hours than ever before. In fact, this is perfectly normal, especially in the first few years. However, don't let this turn into the equally untrue opposite belief that you need to work every minute that you are awake. At some point, you will need to set boundaries around your work time or risk burnout. Find ways to simplify your tasks, automation is a great way to start. An online presence is crucial, but instead of pouring over your social accounts all day, consider automating your activity on LinkedIn and other platforms so that you can maintain visibility without having to be chained to a daily posting quota and timeline. 

Hard Work Will Bring Success

Nothing can be said to guarantee success 100%, not even hard work. In order to succeed, you need a combination of many things, including luck, persistence, and the right idea at the right time. In fact, overemphasizing the role of hard work can actually end up hindering your success. You've probably heard the saying to work smarter and not harder, and it's this you should aim for. It's not just about looking for ways to be more efficient either. Work smarter can also refer to being good at-risk assessment, understanding when to take the leap and when to wait for another day.