That's fantastic! I really want to foster an environment like that where employees are able to take actions like that one on their own and just give me updates. Right now I'm primarily what they call a solo-preneur, but with this first hire I'm beginning to expand. It's exciting, terrifying, exhilarating, nerve racking, freeing, and stressful all at once, but I wouldn't want to do anything else.
some more meaty advice for you.
Cultivate relationships with business owners who are older wiser than you are and throw yourself to their mercy for advice and most of all constructive criticism. AND never let your instinct to follow your own ideas over theirs.
And... if you can find a way to step out of the dog-eat-dog competitive markets, do so. For me in the nursery business that was pretty easy. I got lists from wholesalers of what they were growing for the next season (items that put me in direct competition with area nurseries) I went through seed catalogs with a magic marker crossing out everything that the wholesalers were growing ... and I started growing the things they weren't.
What this did was give me products that had no direct competition on the retail level. Therefore I could charge "what the market would pay" for them. The higher mark ups I made on the crops I was producing allowed me drop prices on everything I bought from wholesalers so I could draw in customers in droves who quickly became buyers of the "next new things" I was constantly introducing each season.
Sure there were some failures in that process but the successes far outweighed them.
And never ever forget that the best advertising dollars you can spend is on making sure satisfied customers are running their mouths at every opportunity.
And find an accountant/bookkeper who's an organizational nazi.
Finding a mentor is among my top priorities. There are so many things I don't know, so many things business schools don't teach, that finding someone in the field wiser than I am to ask for advice will be crucial.
The field I'm in is highly competitive, so I'm just trying to carve out a niche. Fortunately there aren't any big players involved so I'll have a chance eat before the big dogs show up.
Bobbobbob, thank you so much for your great advice! You got me thinking about so many different things. Let's continue this conversation through email.