TAHOE/TRUCKEE, Calif. — EDITOR’S NOTE: Amazon.com puts it this way: Is it possible for your restaurant or small business to not only survive, but thrive … during the worst economic crisis to hit the United States since the Great Depression? Squeeze In, with locations in Truckee, Reno and Sparks, Nev. proves, yes, you can. Read their success story in co-owner Misty Young’s new book “From Rags to Restaurants: The Secret Ingredient.”
I believe there are “Five Irrefutable Laws of Small Business Success.” These laws are true for every small business, from auto parts to florist, from ski gear shop to café and everything in between.
In my travels throughout the country, I have yet to find a small business operating successfully outside The Five Laws.
Before we delve into the laws — a bit of history. The Squeeze In family is a tightly knit family. We’ve been through the grind together.
We’ve literally been on food stamps, had to pay our bills with proceeds of garage sales, shopped out of necessity in thrift stores (before it was chic!), and stood in line for government commodities. Gary worked a full-time and two part-time jobs at one point to keep our family afloat.
We’ve literally gone “From Rags To Restaurants,” which is the title of my newly published (and already best selling) book, or, as FOXBusiness.com put it recently, our family has gone from “Food Stamps to Franchising!”
It’s been challenging, difficult, exciting, scary and thrilling — all at the same time. The best part has been the many people we’ve been able to help and serve along the way: other poor people, friends, associates, causes and events that moved us.
We’ve been blessed and are thankful to have been and continue to be able to help.
What I discovered in “The Five Irrefutable Laws of Small Business Success” is not a suggestion, not a wish list, it’s quite literally the undisputed process and structure all successful small business owners have used. I’m thankful to have the ability to share my discovery with you.
The Five Irrefutable Laws stand in a framework for success — strategy, tactics, accountability, and results — or STAR.
All small businesses must behave strategically (it just means “with a plan”), tactically, or, step by planned step, be committed to accountability and feed results back into an improvement loop.
What works, you refine.
What doesn’t work, you drop.
Refine or decline. Simple.
STAR is the firm foundation of each of “The Five Irrefutable Laws of Small Business Success” as follows:
No. 1: The Law of Leadership — the ability to influence. Our job as business leaders is to model personal growth and expect successful behavior while we develop and hold ourselves, and our associates accountable.
No. 2: The Law of Operations — every aspect of the business is systematized to efficiently and effectively meet stated goals through planning, policies, procedures and measured performance.
No. 3: The Law of Financials — with integrity and diligence, financials and products are tracked, monitored and adjusted to assure financial health, fitness and profitability.
No. 4: The Law of Products / Services — our products must be reliable and we must diligently serve our customers and associates with courtesy, appreciation, respect and kindness.
No. 5: The Law of Marketing — the business must use multi-media tools to communicate timely with customers and associates in relevant, meaningful ways.
A great way to visualize “The Five Irrefutable Laws of Small Business Success” in the STAR context is to imagine them sitting at the five points of a star: Leadership at the top point; products / services on one arm and marketing on the other. The legs of the star, the firm foundation, are operations and financials. The customer and employees sit in the very center, at the intersection between products / services and marketing.
Misty Young is the co-owner of Squeeze In, and recently published author of “From Rags to Restaurants: The Secret Recipe,” available at Amazon.com and The Bookshelf in Truckee. Visit www.mistyyoung.com.