Small Business: Learning to grow
Marvin Soskil, of Brett Harrison Jewelers, left, works with his business coach Peter Cracovaner of Pinnacle Resource Group. (Aug. 23, 2011) Credit: Newsday / J. Conrad Williams Jr.
Business owners can be very myopic.
They're so busy running their business that sometimes they don't recognize their own shortcomings.
Making sure your business is running up to speed takes constant work, and even the best-run businesses may have some shortfalls without even recognizing them, say experts.
"Business owners often unwittingly become the constraint to growth in their own businesses," says Polly White, co-author of "Let Go to Grow" (Palari Publishing; $24.95) and co-founder of Whitestone Partners Inc., a Midlothian, Va., management consultancy.
Some get accustomed to doing things the same way or become too close to the situation to implement changes. Taking a step back or seeking advice may help you avoid some of these more common mistakes:
Working with business coach Pete Cracovaner of Pinnacle Resource Group in Rockville Centre in conjunction with Basso on Business, a monthly webcast that helps businesses uncover their challenges, he decided to expand his market reach beyond his traditional middle-class clientele to high-net-worth individuals and young professionals he could also mentor.
"I'm constantly reinventing as the economy and the market changes," says Soskil, adding he's also in negotiation with major league baseball for a joint venture to sell jewelry to the fans. He didn't disclose further details.
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