7 Ways to Make it to Year 7 as a Small Business Owner

We are celebrating the 7th anniversary of Root Realty today and I can't help but reflect on how far I have come in the past 7 years as a person, and business owner. I am so proud of everything Root has accomplished here in Jacksonville, and I am beyond excited to see what comes next for us. Today also has me thinking about all of the lessons I have learned along the way, so I thought I would share 7 tips for my fellow small business owners to make it to year 7!

Starting and running a small business is no small feat. It requires dedication, hard work, and a strategic approach to ensure your business not only survives but thrives!

If you're looking to make it to year seven and beyond in business, here are 7 things that helped me in my first 7 years. I hope they can help guide you on your business journey!

1. Identify Your Strengths and Weaknesses from the Very Beginning

Understanding your strengths and weaknesses is the cornerstone of building a successful business. Take the time to conduct a thorough self-assessment and be honest with yourself about where you excel and where you may need assistance. This self-awareness will help you make informed decisions about which aspects of your business you should handle personally and which you should delegate to other members of your team!

2. Leverage Where Needed as You Cannot Do It All!

It's a common misconception that as a small business owner, you have to do everything yourself. In reality, trying to handle every task can lead to burnout. Instead, leverage the expertise of others when needed. This could mean hiring employees or outsourcing tasks like accounting, marketing, or IT. By delegating, you free up your time to focus on what you do best and allow your business to grow more quickly and efficiently.

3. Trust Your Gut. ALWAYS.

Intuition plays a significant role in decision-making for small business owners. While data and analysis are crucial, sometimes your gut feeling can lead you in the right direction when facing tough choices. Trust your instincts, but also be willing to learn from your mistakes and adapt your decision-making process over time.

4. Find Your Niche and Lean All In

One of the keys to success in a competitive market is finding your niche and becoming an expert in it. Understand your target audience, their needs, and how your product or service can fulfill those needs better than anyone else. Once you've found your niche, focus your efforts and resources on serving it exceptionally well. Specialization can set you apart from competitors and create a loyal customer base.

5. Hire the Best Talent + Quality - Never Compromise This
Your team is the backbone of your business, so hiring the best talent is non-negotiable. Look for individuals who not only have the necessary skills but also align with your company's values and culture. High-quality employees will contribute to your business's growth and reputation, so never compromise on finding the right people for the job!

6. Automate as Much as Possible

In today's digital age, automation can significantly streamline your business processes and save you valuable time and resources. Look for opportunities to automate repetitive tasks, such as emails, inventory management, or customer support. By doing so, you'll reduce the risk of errors and free up more time to focus on strategic initiatives to grow your business and giving your clients the best possible service!

7. Leave Positive Impressions Everywhere
Your reputation is everything in business, and positive impressions can lead to loyal customers and valuable referrals. Always strive to provide exceptional customer service, exceed expectations, and go the extra mile. Additionally, maintain a strong online presence through social media, online reviews, and a professional website. Every interaction, whether in person or online, is an opportunity to leave a positive impression.

In conclusion, making it to year seven as a small business owner requires a combination of self-awareness, strategic decision-making, and a commitment to excellence. By identifying your strengths and weaknesses, delegating when necessary, trusting your instincts, specializing in your niche, hiring top talent, embracing automation, and leaving positive impressions, you can increase your chances of not only surviving but thriving in the competitive world of small business. Keep these tips in mind as you navigate the challenges and opportunities that lie ahead, and here's to many more successful years in business!

Rooting For You,

MaryAnne Rodriguez