“Mother always knows best.” We’ve all heard this saying before.
Whether she’s kissing a boo-boo or fixing up a meal that just hits the spot, Mom always seems to know the right thing to do in any given situation.
So, it’s no surprise Mom’s advice could actually apply elsewhere. Here are five pearls of wisdom worth listening to while dealing with business:
1. Money doesn’t grow on trees.
If it did, you wouldn’t need to be in business in the first place. Since you’ll have to work and earn every dollar you make, treat that money with respect.
Remember the feeling you had when you made your first sale? Hold on to that. If you lose sight of the value of your money, you’ll find your business starting to spiral out of control.
An easy way to save up is to set a budget in advance and stick to it. Even if you have an unexpectedly good month, by resisting the urge to spend (or reinvest) it all right away, you’ll be better prepared to ride out future bumps in the road.
2. If everyone jumped off a cliff, would you do it, too?
As absurd as it may seem, we actually all fall victim to this line of thinking at one time or another.
Whether it’s a new multi-level marketing scheme, trendy stock or hot investment property, the world of business can often devolve into a “monkey see, monkey do” process.
Resist the urge to dive into something you know nothing about when it’s the “flavor of the week.”
Remember: Just because someone else turned a profit, it doesn’t mean you can expect the same results.
3. Eat your vegetables.
Too often, business owners fall into the trap of looking for the next big thing, while ignoring smaller gems that could help their businesses thrive.
Before you start planning out the new office space you’re going to move into or the new markets you’re itching to capitalize on, make sure you’ve set up a rock-solid foundation first.
Focusing on organization and efficiency measures may not sound glamorous, but they’ll ensure your business will be ready for whatever comes next.
4. Whatever is meant to be will be.
Remember when you came home worried after a test, or when you were nervous before a big performance? Mom was always there to remind you to just give it your best, and then, whatever's meant to happen will happen.
In the high-stakes world of business, it’s easy to get wrapped up in the notion each moment is "make or break," and even the smallest shortcomings are crushing failures.
If you’re starting to feel that cloud of self-doubt lingering, take a step back and remind yourself you’re not dead yet. There’s no use beating yourself up over something that is now out of your control.
Learn from your mistakes, and put yourself in a position to have a more favorable result the next time around.
5. You should call home more often.
Your mother misses you and wishes you’d call more often. But, that’s actually beside the point here.
Staying in touch — whether it's with clients, colleagues, vendors or even your employees — is a critical component of running a successful business.
We’ve all been told, “It’s not what you know, but who you know.”
While networking can’t make up for a complete lack of substance, it does open up new opportunities for you to expand and profit.
Try visiting local conferences, consortiums, demo days and even specialized networking events that will give you face time with other business owners and job talent.
These connections can come in handy when you’re looking to collaborate on a new project or hire new employees.