ArtsAutosBooksBusinessEducationEntertainmentFamilyFashionFoodGamesGenderHealthHolidaysHomeHubPagesPersonal FinancePetsPoliticsReligionSportsTechnologyTravel

Business Principles of Your Own Company

Updated on January 10, 2015

My Story of Entrepreneurial Success

I worked in the healthcare field for over 40-years as a nurse. During these years when we were in need of extra income or situations arose, my husband and I started a temporary business to make ends meet. My husband worked as a television electrician for over 30-years and part way through his career, his company laid him off for one year. This ended up being a computer glitch. During this layoff, he started his own repair business and he did well, but when his company called him back to work, he could not keep the business going and he had to dissolve his business.

Part way through my nursing career my doctor told me to leave nursing to regain my health. I kept getting bronchitis. I would get over it and get it again. It was at this time that nurses smoked on the hospital units and at the nurse's desk. There were eight of us nurses on the night shift and seven smoked, I was a non-smoker and was the one getting respiratory infections from the smoke. At this time, I started a child day care with a pre-school program. I received my license for a day care and had the business for eight years; until I needed a change and felt, I was well enough to go back into nursing.

In 2004, a friend and I enjoyed resale shopping and knew that the economy was going to take a nosedive, so we planned a resale shop. We knew that many families rely on good upper scale clothing without paying the 300 percent markup at the retail level. Two months in the business, my friend wanted to leave, as it was not her niche. I kept the business and changed my full-time nursing to part-time. I was getting ready to leave nursing again when my husband became ill in 2005 and had to take an early retirement. I had to close up my store and go back into nursing full-time.

I finally left nursing altogether, when I had surgery on my foot and ankle and all the bones collapsed in my right hand. I could not stand as long as expected in nursing, could not lift patients or heavy equipment, or hold onto anything firmly with my right hand such as to give injections or set up medication without spilling. I took an early retirement in 2010.

I could not sit still and wanted to do something to help fill my time and bring in some extra income. Someone told me that I had to find my niche. I had no idea what a nice meant, so did some research. Without knowing, I had already found my niche in 2004, resale, but since I did not want to go that route, I found writing was another nice I loved. I slowly became a freelance writer.

Learn the Principles of Owning Your Own Business

In the current economy of the United States where so many people have lost their job and cannot find work, many have gone the entrepreneurial route to bring into their home income to at least put food on the table and pay their bills. Do not be embarrassed or think that you are rowing alone in this boat of depressed economy. There are many people rowing with you.

Starting a business when the economy is thriving is difficult enough, but when an entrepreneur decides to start a business it is more challenging in a poor economy and the risks of failure are increased. That is unless you are offering to the public something they can use and is affordable.

One thing to remember when starting a business in any economy are the principles that new business owners must abide by in order to seek success in that business. Without following some of these business principles, do not even attempt to start a business.

The very first thing a new business owner must do is to find their niche or come up with a business idea that they believe in and that will serve the community and the public. The business must be something that the consumer either needs or desires to have in their life. Moreover, if the business is something the consumer really cannot do without this helps to seal the deal for the success of the business and owner. As a business owner, you must believe beyond any doubt that you believe in what you are offering to the public.

Respect is Essential and Money Matters

Give respect to gain respect. You should not treat your customers any differently that you would treat an especially loved guest in your private home. Quality, unparalleled customer service is the foundation of every successful business. This respect also flows over into the realm of respect for each employee. Employees are not going to do the best for your company if they do not respect whom they are working.

It is great if you invest your own money into your business, however many business owners have investors who have invested in your business to help you get your idea off the ground. They believe in your idea. Thus, it is up to you as owner to respect the money your investors have earnestly given to you. Investors' money need to go into space needed, equipment, services and your employees. Forget the rich and costly furnishings until you have had success and repaid all investors.

Remember to show progress each day. Business owners are no different from the public. There are days an owner just does not want to work anymore and while people in general can get away with calling in, you as a business owner do not have this option. You need to continue to show excitement and new ideas to help the business prosper. Never give up on your dream and realize there will be difficulties. Come to work with enthusiasm and do not bring family problems to work. Everyone has problems in life including your employees. Make it a point to listen to your employees and help just one person at least every week, if it is just to be a good listener.

Strive to be the best business and business owner in your niche.


    0 of 8192 characters used
    Post Comment

    No comments yet.