What are some things that you know now that you wish you knew when you first started your own business? The best answer to this question is the knowledge gained from watching your employer. You can learn what works and what doesn’t work, which will help improve your chances of success in the future. Here are five takeaways you learn when watching your employer.
Don’t be afraid to take risks
Some of the most successful entrepreneurs are those that took a risk and ventured into something they were passionate about. If you have an idea, don’t let fear hold you back from giving it a try. You never know where your next big break will come from if you do not take risks. Plus, even if your first venture does not work out, you can still use what you learned to make your next idea a success.
Always have a backup plan for any situation that arises
Being a business person means you have to be prepared for anything. For some business people, they have a side hustle that they started after reading books about passive income. Even the most experienced entrepreneurs have a backup plan in case something does not go as planned. If you don’t, then it can be devastating to your business and all of your hard work, up until that point, will have been for nothing.
Have a backup so you have a plan for anything that may come your way. Regardless of how prepared you think you are, there is always something that can go wrong. This means it’s important to be as ready as possible before opening up shop/filing any official paperwork with the government or making deals with clients and suppliers.
You can depend on your employers to be prepared for everything. Their business is their priority, and they may not have the time to sit down with you and go over possible solutions if something goes wrong.
Encourage employees to give feedback
As an employer, it is important that you encourage your employees to tell you what they think and how their work can be improved. You never know if something may seem like a silly idea, but it could lead to an innovative new process that will benefit the business as a whole.
You can learn this from your employers by observing how they respond to your ideas and the ones of others around you. You can have suggestion boxes all over the place or simply set up a meeting and ask for feedback. Either way, just get the conversation started so you can find out how to improve your business from those who know it best – your employees.
Be respectful of other people’s time
Being on time is important if you want to make a good impression. If someone has taken the time out of their day to sit down and talk with you, respect that by showing up on time. It will be beneficial for both parties involved in that conversation. You being on time as a business owner will show that you are reliable and dependable.
If you observe your employer, they are almost always punctual as well, or else they may not get respect from their clients. This is important to remember when dealing with those who work for your business. If you make a commitment to meet at a certain time and place, then do everything in your power to be there on time. It is not fair to the other person if you are late. This will reflect poorly on your business.
Spend more time listening than talking
Being a good listener is not only beneficial for your business but also shows you care about what other people have to say. It might seem like common sense, but I feel it goes a long way when someone takes the time out of their day to listen and share opinions on things outside of work with co-workers or employees at any company. Listen to your consumers and suppliers so you know what they want/need from your products or services.
By watching your employer and taking note of the above five points, you will become a better-prepared business owner who knows what to do when certain situations arise. As much as you might think you know about handling something yourself by doing it once or twice, this does not compare to learning from the mistakes others make. Take their advice and use them for your own benefit in some way, especially if they are willing to share that information with you.