Planes, Trains, and Automobiles of Running a Business

by Mike Semanco

msemanco@hitachibusinessfinance.com

Running a business has many of the same characteristics as the famous holiday movie. Steve Martin and John Candy had visions of the journey but had no idea of the challenges they were about to face along the way.

Some how, some way, they were able to figure it out and ultimately reach their intended destination. They improvised, expressed themselves verbally to relieve some stress, never took no for an answer, and relied on their partnership to achieve their goal.

All entrepreneurs  have a vision of what they want to create, but how many times does it work as smooth as the vision? Almost never.

Below are a few things I have learned over the years and will continue to focus on as business evolves.
•    Have partners, friends, and employees you can rely on as sounding boards. You never have to feel like you are stranded alone on an island.

•    Surround yourself with staff that complements your skill set. Similar desire, passion, and commitment are added bonuses and usually come over time.

•    Communicate the good, bad, and ugly with staff. The more they know, the easier it is to face challenges together.

•    Just when you think you have all the answers, expect a few more questions. You will never have 100% of your questions answered before you make a decision. Trust your gut and usually the 80% of which you have answered will be enough.

•    Commit to doing the right thing. I’ve seen many business owners take short cuts and ultimately it takes them longer to reach the goal.

•    You spend most of your waking hours working. Do what you love or it is not worth doing.

Resilient, persistent, and passionate are just a few of the adjectives which describe the characters in Planes, Trains, and Automobiles. Business owners can be described the same way.

Mike Semanco serves as President and Chief Operating Officer for Hitachi Business Finance. He has more than 20 years of experience in the financial services industry. His career spans a variety of lending institutions, beginning with banks and credit unions to becoming an instrumental partner in the launch of Hennessey Capital in 2002 (which was acquired by Hitachi Capital America and is now Hitachi Business Finance). He can be reached at msemanco@hitachibusinessfinance.com or (248) 658-3201.

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About the Author
mm

Mike Semanco serves as President and Chief Operating Officer for Hitachi Business Finance. He has over 20 years of experience in the financial service industry. His career spans a variety of lending institutions, beginning with banks and credit unions to becoming a partner in launching Hennessey Capital in 2002 (which is now Hitachi Business Finance). He can be reached at msemanco@hitachibusinessfinance.com or (248) 658-3201.