When you are bogged down in the day to day tasks involved with running your business, it can be easy to focus on frustrations and become overwhelmed. We have all had ups and downs in our businesses, but to keep pressing forward, it is important to express gratitude for the benefits and perks of being a business owner. Here are a few things to be thankful for:

1. First and foremost, you are in control of your business direction. You can choose what projects to pursue and work in the way that best suits you (and the way you want to). This means that you can make change happen: you don’t have to wait for red tape or for someone else to decide.
2. You get to choose who you work with. You can hire people with strengths that compliment yours and with personalities you know you can work alongside. It is far easier to achieve success with people you connect well with.
3. You can take time off whenever you choose. Yes, I know that there are deadlines, client requirements and other factors that affect your ability to do this! But essentially, you CAN take a day off, without having to justify it to anyone else.
4. Many of us can choose our workspaces and design them to best fit our creativity. And many of us can also move our workspaces around, thanks to technology. We can give ourselves a break from the desk and work at the beach or a café for the afternoon. This does wonders for boosting our creative juices.
5. As a small, local business, you have the opportunity to play a positive role in your local community. You know your clients and customers by name, you can get involved in local charity events and sponsor local sports teams. You get to show people the value of dealing with local business rather than a nameless corporate giant.

Generally, the most successful business owners are not those who have the greatest monetary success, but those who enjoy every step of the way. So find ways to be thankful every day.

Michelle Grice writes a weekly column for business women in The Western Weekender

It has been a while since I’ve listed some of my favourite quotes from inspiring women but I think it is important to look to those who have ‘gone before us’ so that we can be inspired and learn from their experiences, mistakes and successes.

This quote from Mary Anne Radmacher (Author) is so important, especially for those of us who sit more on the introvert end of the personality spectrum and may feel that we have to be ‘loud’ about what we do: “Courage doesn’t always roar. Sometimes courage is the quiet voice at the end of the day saying, ‘I will try again tomorrow.’”. Persistence and determination are vital to achieving any success in your business.

Gail Blanke, President and CEO, of a company called Lifedesigns, said “Walt Disney told his crew to ‘build the castle first’ when constructing Disney World, knowing that vision would continue to serve as motivation throughout the project. Oftentimes when people fail to achieve what they want in life, it’s because their vision isn’t strong enough.”. I think many of us struggle with this! We have a vague idea of what we want to achieve, but without a strong vision, we are unlikely to achieve it.

As most of us are no doubt aware, any success in business does not get handed to us on a silver platter! Madam C.J. Walker (America's first female entrepreneur millionaire), put it like this: “There is no royal flower-strewn path to success. And if there is, I have not found it, for if I have accomplished anything in life it is because I have been willing to work hard.”

And a classic quote from Roseanne Barr (actress) sums up the attitude I think we all have to take in our businesses: “The thing women have yet to learn is nobody gives you power. You just take it.”.

Michelle Grice writes a weekly column for business women in The Western Weekender

I know there are some of you who read this column who are not (yet) business owners, and who may be thinking about taking that leap of faith to launch your idea. If that’s you, have you considered the following?

• Do you have enough capital? Most businesses take between six and twelve months to start turning a profit large enough to provide you with a reasonable income. Even if you start generating sales and income immediately, there are many start up costs that eat into your profit. So make sure you have enough cash to sustain you during that time, and/or a budget (for your personal finances and your business) that is realistic and sustainable.
• Do you have a marketing plan? Your first few customers or clients are crucial to starting a loyal fan base, so think of ways to engage those people. Be prepared to spend money on marketing (yes, there are many free marketing ideas, but you will usually need to spend some money to get your product or service in front of the right people)
• Do you look the part? It continues to amaze me how many businesses don’t take the time to ensure they look professional and trustworthy. Branding your business doesn’t necessarily involve spending a lot of money, but spending the time to think about what image you are projecting is vital. You need a great first impression, so if you are meeting potential customer face to face, consider how you (and anyone representing you) dresses, speaks and interacts. If first contact is online, ensure that you have a website that functions well, looks great and is optimised for search engines to find you.
• Are you prepared for the long haul? Running a business is not a ‘walk in the park’. It requires endurance and a commitment to your long term goals. Be prepared to give 110 percent and you just might make it!

Michelle Grice writes a weekly column for business women in The Western Weekender

Have you been watching ‘Shark Tank’ (the television show where budding entrepreneurs present their business to a panel of potential investors)? The first episode I found myself cringing and feeling terribly sorry for the business owners who were criticised or rejected. As a fellow business person, I know just how much of your heart and soul is contained in your business. So a rejection would have felt terrible.

But during the second episode, I noticed that my attitude had shifted. There were a few candidates who were clearly underprepared or failed to present an accurate (or realistic) financial overview of their business. The investors were clearly annoyed at some of those people, and rightly so. And I became much less sympathetic toward the candidates.

The people who have made it to this stage of the television have been provided with an amazing opportunity. Unfortunately, some just didn’t seem to understand enough about their business (or business principles in general) to present a strong case for why someone should invest with them.

We all need to make sure we have a better grasp on our business than the unsuccessful entrepreneurs! Most of us are not looking for investors or business partners, and may not even have to acquire a loan from a bank. This might lull us into thinking that we don’t need to answer questions (even if it’s just us asking them!) about our financial figures, our projected sales or our potential worth.

You can really only respond well to change and be innovative if you understand your current situation. Be very clear about where you are heading, where the potential growth areas are and how you are going to sustain and progress your business into the future. Revisit these areas regularly, share the overall vision with your team, and ensure that you always have a good grasp on where you are headed next.

Michelle Grice writes a weekly column for business women in The Western Weekender

There are some recent studies which show that female entrepreneurs are happier than their male counterparts. Not only that, they are generally amongst the happiest people in the world. Speaking from my own experience, I know that I only have to imagine working for an employer, and I immediately realise how satisfied and happy I am with my current circumstances!

The happiness of female entrepreneurs overall may be due to some practical reasons, such as the average ‘salary’ being much higher than those in traditional employment. But I think there are some more compelling reasons that this.

Although I have written a number of articles relating to the difficulties of ‘work/life balance’, the fact is that ultimately you are in control of the hours you work and can adjust your schedule to suit. Last year I was able to attend all my children’s special events and activities, despite working an average of 40 hours a week. I am fully aware of how valuable this is and this benefit was one of the motivating factors to starting (and now continuing) my business.

Many female business owners and entrepreneurs start their enterprise because they want to ‘make a difference’. This might be directly via business products/services or as an ‘offshoot’ of business profits (for example, donating money, time or resources to supporting social enterprises). Brain scientists agree that the more ‘good’ you do, the happier you are. It stands to reason that having the opportunity to incorporate rewarding work into your everyday activities will increase your happiness.

If what you do does not make you feel a high degree of happiness, perhaps it’s time to question why you do what you do?

Michelle Grice writes a weekly column for business women in The Western Weekender

Some business owners can be categorised as ‘working for themselves’ – that is, they have chosen to create their own job and workplace, rather than be employed by someone else. They are not seeking to ‘change the world’ but are very happy being their own boss. Other business owners can be better defined as entrepreneurs, which “is someone who is always thinking [she] can do things a different, better way...and sees them differently than other people do” (Sam Zell, Chairman of Equity Group Investments).

When you read those two descriptions, you will know which one describes you. Neither is ‘right’ or ‘better’, and to a large degree, you won’t have a lot of choice as to which type of business owner you are. That is, if you are an entrepreneur, you will think as Sam Zell has described: your automatic response will be to see ways that something can be improved.

This trait does come with a downside: entrepreneurs are often viewed as arrogant. And it IS a fine line: just because you think (or know!) that there is a more efficient way, doesn’t mean people are ready to hear that. At best, you need to find a tactful way to make suggestions.

Although it can be frustrating, the best course of action is to channel that energy into the things you can control, and showing the end product as proof. Most people are not going to ‘see’ the vision you have, either for something new or how your method is going to change current outcomes. Where you do need to get stakeholders on board in order to progress your ideas, make sure you provide concrete examples of benefits and outcomes.

Michelle Grice writes a weekly column for business women in The Western Weekender