Healthy Businesses September 1, 2014 You’ve heard the expression “Happy wife, happy life?” Well, for small business it should be “Healthy business, happy life.” Why does a healthy business translate into a happy life? Healthy businesses create profits to support your lifestyle. They create an interesting place to be every day. They provide intellectual support, fulfillment, satisfaction, a place to employ your friends and relatives, a legacy for your children and grandchildren, a place to escape from personal problems, a means to helping your community, etc. etc. etc. Aren’t these all elements of “happy?” What constitutes a healthy business? Some would say profits are the only demonstration of a business’ health. I would disagree. A healthy business is also one which can sustain itself through both good and tough times. A healthy business is one which can withstand the unexpected. The unexpected can range from weather (Superstorm Sandy) or other catastrophe (such as a fire that destroys or severely injures the plant). The unexpected can also equal a huge order you were not anticipating that requires more staff, more supplies and other drains on your resources. The unexpected can include a major shift in the demographics of your market or an obsolete product or service. Healthy businesses are also those which provide their owners with pride and fulfillment because of the superior products/services. A healthy business gives back to the community through contributions of cash or staff or other needed things. A healthy business maintains its vendors and clients because of a great relationship. A healthy business supports and encourages not just the owner and his/her family, but the entire business family- employees and others. Healthy businesses are also able to adapt to changing conditions and grow or stay stable. Is your small business a healthy business according to these parameters? If not, here are some steps you can take to better and maintain the health of your business: -create a written business plan and update it every year; A healthy business that can financially support your family, employees and their families, community and others while giving you, as the owner, satisfaction, fulfillment and pride is certainly worth whatever effort it takes. And, in the end, this healthy business will contribute to your happy life! BACK |