Guest Article by Kena Fuller
Owner & Executive Director, Fuller Management Corporation
So, here we are. It is finally 2021, and yet, there still remains remnants of 2020.
As entrepreneurs, it has been one of the longest and hardest years that any of us have faced. Because of uncertain times and the ups and downs, it has been challenging to find ways and the will to press on. But somehow the resiliency of our small business community continues to shine brighter than ever before.
Entrepreneurship is a notion. It is a way of life that leads with passion and deep interest in sharing the love of craft and finely curated, feel-good moments; each made extra special for our customers and clients. THIS is what being an entrepreneur is all about. We roll with the punches, we try and try again, but we do not quit!
With many months of the pandemic behind us and a promising new year on the horizon, there is no better time to reassess and re-think the what-if’s and the possibility of better. Given that we’ve all learned to weather the storm, as expected, the question of what’s next continues to regularly come to mind.
As a small business owner, like so many I know and love, I’ve had my share of the ups and downs, and just about every type of in-between-moment I can think of. Throwing 2020 into the pot, hasn’t been fun, but we’re coming out on the other side and things are looking up.
With so many details, applications, information, and resources at our fingertips, some may be thinking of how to ensure their business is taking the right steps. I absolutely believe this is a great place to be and I offer the following tips to keep us all on the right track:
1. First, take a moment to acknowledge how far you’ve come and everything you’ve overcome. Without your tenacity, none of it would be possible. It is because of your drive that you continue to stand. I encourage all entrepreneurs to applaud each win, no matter how big or small. In doing so, you gain an appreciation for the process.
2. Next, take the time to assess the financials of the business. Look into the most recent years of historic record (ideally 2017, 2018, and 2019), and compare the details to your prior year performance (2020). When doing so, you will be in a better position to plan upcoming quarters and benchmark where you plan to land (financially) during the current calendar year and beyond.
3. Then, look at the overall functions of business operations. It may be the right time to ask yourself if changes need to be made. Simple changes in operation can assist with ensuring consistency in overall business performance, as well as that of self or any staff members. By looking at business operations, it is very likely that bottlenecks and opportunities will come into view. Once these items have been identified, create a plan for improvement, checking in on the progress throughout the year.
4. Finally, KEEP GOING. Though no one anticipated the rollercoaster of 2020, we can now say it is behind us. Looking forward to the year ahead, it is important to align yourself with positivity and opportunity. And, anytime those moments of doubt attempt to settle in, remember – The best is yet to come!
I wish you all the most fantastic 2021 – Cheers to your success.
Contact info for Fuller Management Corporation:
100 Oceangate, Suite 1200
Long Beach, CA 90802