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Small Business Lessons

I had the opportunity this month to hear Peter Beaugard, Head of Brand Strategy at Dooney & Bourke speak at our local Greater Norwalk Chamber of Commerce 2024 Small Business Awards Breakfast. He spoke highly of Peter Dooney, his inspiration, and described him as more of a mentor. He then shared three business lessons he learned over the years from him.
Three Small Business Lessons
1)     Know your numbers: Especially your true costs. My takeaway: It’s important for small businesses at every stage of business. An owner should always know and understand the business financials to make better decisions quicker. Speed will help you succeed.
2)     Do business on a handshake: Do what you said you would do. My takeaway:  I couldn’t agree more. Business is about people and relationships. Be a person of your word to your customers, team suppliers, and vendors. Building and nurturing relationships is key to long term success.
3)     Go left when others go right: Think outside the box. My takeaway: Stay out of your comfort zone. Be willing to get comfortable with being uncomfortable. Do things others are not to best serve your customers, team, and business.

Peter described a David and Goliath approach to business. My takeaway: You don’t have to be the biggest to have long term success. Understanding your vision and core values is where strength lies. Don’t lose sight of them over time as you grow. They are the foundation of your business.

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