5 Business Lessons Small Business Owners Can Learn From Steve Jobs- A Streamline Payroll Blog

Steve JobsApple co-creator and long-time chief executive Steve Jobs was nothing short of a prodigy when it came to turning Apple into one of the most innovative companies in the U.S. Started in a garage in the 1970’s, Jobs’ business savvy, persistence and ability to think outside the box turned Apple into the 3rd largest company in the history of our economy. His impressive running of Apple from the time of it’s inception as a small business, leaves other small business owners with a multitude of lessons to learn from when it comes to how they can become successful as well. The following are just a few of the business lessons we can learn from Steve Jobs:

Lesson 1: Don’t be afraid to go out on a limb.

Jobs was a master at meeting the needs of his consumers before they even knew what they needed. His innovative and fearless approach to providing consumers with products and services they not only wanted, but actually needed was vital to Apple’s success. Meeting the unspoken needs of your consumers is not only vital to your business’s success, but it helps you to avoid mediocrity in your industry. Innovation is key and the confidence to carry it out is paramount.

Succession PlanningLesson 2: Have a succession plan.

Nobody likes to think about death or serious illness. Let’s face it, it’s a morbid topic. We are often in the habit of thinking, “Oh, that won’t happen to me or my business”. Then boom. Disaster strikes. Who will take over your business if something happens to you? Jobs surrounded himself with strong people and good succession planning. He made sure to “spread out the intellectual capital” among two or three key contributors who would be able to effectively run Apple in his absence. It’s important to have a succession plan in place. Be sure that you have a number two person who will be prepared to run your business in your if you’re unable to.

Lesson 3: Commitment to and a passion for the business are key.

Jobs ‘ dedication to Apple showed in everything he did. He believed that there was a right way to do things and nothing short of that way was acceptable to him. He was always enthusiastic about innovation and new products and his ability to spread his enthusiasm throughout the company increased the level of dedication and commitment shown by his employees. He was a firm believer that as a business owner, you need to sell the idea that you’re going to be successful in your market in order to recruit customers or potential investors. Your business is a reflection of you. Be passionate about whatever it is you do and a natural commitment to it will follow.

Lesson 4: Hire the right people. http://www.dreamstime.com/-image23611793

Sometimes, this is easier said than done. Even more difficult is firing those employees who aren’t living up to your expectations. Jobs made it his priority to hire the best of the best and was not afraid to fire people for the good of the company. He was not one to settle for mediocrity and neither should you.

Lesson 5: Execute.

As stated in the opening, Apple is the 3rd largest company in the history of our economy. Despite its size, Apple only has 30 or so products. The thought process here is pretty simple. The fewer things you have to execute, the greater your chances are of executing them precisely. Jobs believed that doing fewer things excellently was more beneficial than doing more things averagely. Average work will only get you less of a response from the marketplace.

Even after the death of Steve Jobs, Apple continues to prosper because of the lessons that he instilled in his employees and partners. Maybe your small business won’t be the next Apple, but these same lessons can be used to make your small business successful on any level. And who knows, maybe you do have a future Fortune 500 company in the making.

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Streamline payroll is the premier payroll service supplier in the area. What distinguishes Streamline from other payroll service providers is our ability to complete payroll activities at a much more competitive price than our competition, with a staff of experienced tax and accounting experts, who provide personalized service tailored exclusively to the needs of our individual clients.  to learn more about Streamline Payroll, visit there website @ http://streamlinepayroll.net/

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