Launching Your Business: Airplane Principle- Part II

As discussed in Part I of this series, growing a business is like flying an airplaneProverb. Again, no matter how naturally talented you are or how brilliant your business concept is, you must take the time to be learn and grow. An age-old Chinese proverb states, It takes a wise man to learn from his mistakes, but an even wiser man to learn from others.

If you’ve happened upon this post and are in the early stages of starting your company, I encourage you to start at the beginning of this series. If you have already started your company, but find yourself floundering, there might be some good insight for you, as well. Today, we discuss getting on the right path.

 

 

Pay's_Helicopters_(VH-NBI)_Cessna_310R_taxiing_at_Wagga_Wagga_Airport (1)After you have backed out of the gate, the next step for a pilot is to taxi to the runway. Your basic goal is to move in the right direction. Your survival, and the survival of others, is reliant on you moving to, and staying on, the correct path. Signs, reflectors, and lights will point you in the right direction. Additionally, other planes around you will be heading in the right direction.

 

As a small business owner, you can learn so much from your surroundings.

Don’t. Reinvent. The. Wheel.

Watch your competition and make logical decisions.  Don’t fool yourself into thinking that your business is so ground breaking, that you have nothing to learn from your surroundings. You will either have existing experience or other companies that you can watch and learn from.

Explore the websites of your competitors. What do they offer that you do not?peoplewatching_Large

Join your Chamber of Commerce and network. What do people with more experience than you do?

Ask someone successful to mentor you. Watch and listen more than you talk.

In Part III of this series, we will discuss taking off.

If you’d like to ensure that your business is heading in the correct direction, Right Column Financial’s Reporting and Strategy Services are a great way to ensure that you stay on the right path. Connect with us if you’d like to learn more about how Right Column can come alongside you to grow your business.

Photo Credits:
Image 1: Whisper.sh
Image 2: Wikimedia Commons
Image 3: SparkNotes Community

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Author: Right Column

Mike Townsend is the President at Right Column and brings 15 years of entrepreneurial, finance and accounting experience to the table which enables him to truly relate to the clients Right Column serves. He thrives on spending time in front of clients working with them through the different financial and strategic elements of their business. Prior founding Right Column, he founded Tax Credit Services in 2001 after seeing an opportunity to help small to medium sized businesses in a struggling economy. The company he founded now secures millions in tax credits every year for clients across the country. In his spare time he enjoys Georgia Bulldog football, boating on Lake Lanier, duck hunting, taking his wonderful wife, Beth and 3 kids to Disney World whenever possible. Mike graduated from the Campbell School of Business at Berry College in 1999 with a degree in Finance.

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