The captain is back...with 5 tips for your business Posted by Lee Palmer at 12:59 PM
My last blog of 2011 was about turning over the captain’s chair to my staff while I took a 3 week vacation. A real vacation at that, not glued to my e-mail or solving problems from afar. I let them sail the ship and I relaxed. It was a welcome change.
If you have an experienced team, the captain is only needed when you hit rough water. Steering the ship through a crisis is a learned skill set, sharpened by experience. Whether we have fallen into a leadership position, got forced into taking the helm or arrived at it by design, the short strokes are that every ship needs a captain and every project needs a champion. Why? Because there are always storms to navigate and only one person can make that decision. No two people are likely to approach the same set of circumstances in the same manner. As my older brother likes to say, “There are lots of right answers”.
When I started my business 24 years ago, my older brother’s advice was... don’t do it. He had been in business for a decade already and knew the perils I would face. I believe it was something I was meant to do and as I may have stated before, being overly optimistic and somewhat naive are fundamental qualities of being in business for yourself.
I’ve seen a lot of businesses fail. Solid companies with hard working owners – most spent too much money on the wrong things at the wrong time. Many fell behind with tax remittances. Some coasted when they should have forged ahead. Some forged ahead only to have a dramatic shift in technology or market conditions do them in. I feel very fortunate that my business is solid as we march into 2012.
For anyone thinking of starting their own business or are in business already and questioning their direction, here are 5 tips that people have shared with me and I know to be true:
1. Don’t bog yourself down with things you’re not good at. Hire the right people to fill the gaps.
2. Banks never give you money when you need it. Always increase your credit line when you don’t need it so that it’s there when you need it most.
3. Prepare yourself to work longer hours, take fewer vacations and have more stress than you will ever have working for someone else.
4. Prepare for the worst and expect the best is appropriate advice and trusting your instincts is critical to successful decision making.
5. Last but not least, the right decision is always the hardest until you make it... after you make it, you will wonder why you hadn’t done it sooner.
Lee’s quote for the day
“You’ll know when you’re going in the right direction by the number of hills you climb, obstacles you overcome and forks in the road that require decisions to be made.” J
Lee Palmer is the President and Creative Director at Palmer Marketing, a company that specializes in creative marketing and advertising solutions for the transportation industry.










