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Business Wisdom: What Button Are You Pushing for 2022

January 4, 2022

Business Wisdom, Tuesday Thoughts for Women Entrepreneurs, Female Business Owners, and Small Businesses

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Over my small business career, looking to long-time entrepreneurs for advice has always helped me hurdle an issue, consider a different decision, or lead me down a better path. If wise people can’t share what they’ve learned with others, they waste opportunities to aid other people.

One of the women I’ve always turned to for sage advice was, and continues to be, my 84-year-old Aunt Elaine, who started dabbling in real estate in the 1960s investing extra income into houses and restaurants to flip. She became a millionaire with her actions and thus, a role model to me as I contemplated entrepreneurial life at age 30.

Aunt Elaine and Tracy

Recently we had a heart-to-heart talk about decisions in her business life that spoke to where I am now, continuing my 27th year as a woman entrepreneur. Over the years, some of her businesses have come and gone based on a plethora of economic decisions. I asked her how she could let go of a business, since I have held on to mine for so long, her reply, “When you know it is time, it is time. Most people hold on too long and can’t let go even though they should.”

If making a decision about ending or continuing a business is based on purely monetary figures, then a decision to close a business or try to sell it, can be easier to make. If a passionate small business owner is emotionally attached to their company and the people they try to help, it may be harder to make a decision. Someone once said to me, “A business isn’t your child, it isn’t an extension of you personally, so let it go when it is time.”

The beginning of any new year brings with it contemplation of changes to be made. For some reason a new year provides a reset button along with an eject and replay button. As entrepreneurs we need to take a look at our console and decide which one, we want to push for 2022. The clarity of a new year gives space and wisdom to make year-long decisions that maybe should have been made sooner. What button are you going to push?

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