So, you want to be in business. I’ve been working for myself for years and it’s extremely rewarding. But there are things you need to understand from Day 1.
Pete Ciarrocchi’s Tips #1: Don’t spend your money before you make it.
Live close to the vest. Reinvest in your business. The time to spend will come years later.
Any business owner will tell you they are afraid to take their income and divide it by the number of hours they work. Even if you are very successful, odds are the resulting number will be very depressing when you figure out your hourly wage! Regardless, money has to become secondary. If you make a good product and people like it, money will always come. Making them happy means return customers.
Pete Ciarrocchi’s Tips #2: Be Dedicated
If you want to own your own business, you need to be your own most dedicated employee.
Especially in the beginning, you need to turn on the lights in the morning and you need to turn them off at night. Days off are for employees – not you.
You need to be on the floor of your business constantly – it doesn’t matter if it’s a restaurant like Chickie’s & Pete’s or a manufacturing operation. You need to understand EVERY facet of your business. – doing so is a trait of every successful person I know.
Here’s a story to illustrate my point: When we first started to grow at Chickie’s & Pete’s, if a cook or a bartender called in sick, I often had to grab a spatula or be prepared to pour beer all night. I was ultimately responsible for making sure our doors were open and our customers were happy. Some nights I thought I would fall asleep on my feet – and on more than a few times I probably did. But by knowing everything about my business, I was always able to jump into any situation and fix it.
Pete Ciarrocchi’s Tips #3: Lead by Example
You need to support the people who work for you in every capacity.
I have always had tremendous employees and managers. But successful generals lead from the front – I’ve always followed that policy – and I’ve been there to support my staff any way I could.
Pete Ciarrocchi’s Tips #4: Recognize Who’s Really in Charge
The customers come first.
Here’s some inside information only business people know: Very early on in your career someone will say, “It must be nice to be your own boss.” Trust me, if you are running your business correctly, your customers are your real boss.
Customers, and not you, make all the rules. Sometimes they will tell you what they want, but mostly you will have to figure it out. And each day you need to thank your lucky stars that you have many bosses and it’s your job to make them all happy.
I hope these tips can serve you as well as they’ve served me over the years. If you want to know more about me, take a look around the rest of my site and follow me on social media .