Owners of independently run businesses tend to be practical and clear-thinking entrepreneurs. However, because they are so strong and self-sufficient, small business owners tend in their dealings with others to be somewhat independent. While the most successful entrepreneurs in history have possessed this trait, in certain circumstances, it can be a crucial weakness. Learning when to be independent and when to look to others for advice and information can make the difference between success and failure in business.
Lawyers, inspectors, and other officials have years of accumulated knowledge, and neglecting to use this wisdom can be the downfall of a small business owner. Legal issues are often a place where the average owner-manager should yield to the first-hand experience of a seasoned lawyer. Seeking out a knowledgeable lawyer early in the process of a business venture may not only eliminate legal issues later on, but it can also frequently increase the overall worth of the deal itself. In the same way, the advice of government officials, building inspectors, and professional advisors can decrease legal and governmental problems while simultaneously increasing the value of a business exponentially.
Potential business owners should certainly rely on their traditional pride and tenacious unwillingness to yield to others when it helps their business. However, in many cases, owners must also be willing to rely on the assistance and advice of others. Striking a balance between these two aspects of an entrepreneurial personality is one of the most difficult, yet one of the most valuable skills a small business owner can possess.
