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You have found a business for sale, you have bought it, so what now? With all the pieces of your new business just about in place, there is a crucial Issue to discuss, You. The most important ingredient in small business is the owner, and the most important ingredient in the owner is their attitude to both the business, and their customers.
Your attitude will to a great degree govern your success in business. Some people when they leave their jobs to start up their own business, unravel and get lazy. This is probably due to the fact they are no longer intimidated by the boss into doing the right thing. Self discipline can be a real problem with some people, they just can't motivate themselves without some degree of external pressure. This, I believe is the biggest problem you will face.
You should watch for the warning signs, opening late, closing early, having long lunches, never getting jobs finished on time or at all, not returning calls, letting accounting paperwork lag behind, taking days off because you couldn't be bothered working and so on. It is so easy to slip into bad habits, so be aware.
Try and remain accustomed to at least working the same hours as you were in your employed job and set yourself targets. Targets and goals will impose pressure on you to perform.
The next attitude problem comes from lack of determination.
Some small business owners fall to pieces every time there is problem or a crisis. This style of attitude will also assist you to go out of business very quickly.
You must never give up, for your own sake you must push on because you will strike plenty of problems and go through several serious crisis's before things settle down, this is common to all new businesses.
The best thing to do is work through the problem in a calm and systematic way. Whilst you may feel at the time “this is the end” and “I've had enough”, this is a normal reaction that will pass. It often helps to join business groups and talk to other business owners about common problems.
You then must solve the problem and keep going. I'm sure attitude and determination has a lot to do with the 90% of businesses that fail. It's ridiculous to think that a business goes down the drain because the owner had a poor attitude or “had a wobbly”, but it does happen. Make sure you're not one of them.
The last issue to discuss is your attitude to customers. Keep this in mind, regardless of whether you like the particular person, all customers contribute to your profitability and success so treat them with respect and courtesy. It's amazing how quickly customers will desert you if they feel you are rude to them. No customers - no money — no business! Always remain courteous, helpful and above all friendly, never allow personal or business problems to raise their heads in front of customers.The future of your business is in your hands.