
By Holly A. Magister, CPA, CFP®
The Great Recession has been a great teacher for many seasoned women entrepreneurs. Those who have survived have been the ones willing to truly look at their businesses objectively. And in doing so, they have learned many lessons.
One of the best ways to look at your business objectively is to ask yourself the following question: If you were a Startup, had very few dollars in the bank, and knew what you know today about your business, market, and employees, would you do it all again the same way?
Simply put, you would be a Lean Startup unaffected by poor decisions, failed initiatives, and unmotivated employees.
Please understand, I do not mean to suggest that all of your decisions have been bad, all initiatives have failed or all of your employees are a disappointment. In most cases, it is just one or a few of these things that bog down many businesses. And this causes the business to not perform at its highest level. Such businesses do not have the benefit of operating as if they were Lean Startups.
What I do suggest is that by looking objectively at your business, as if it were a Lean Startup, the woman entrepreneur could eliminate many headaches and greatly improve the bottom line.
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