Kevin O'Leary Says All New Small Business Owners Must Focus on This

When you first start a small business, there can be many different matters you're tasked with handling. These might include renting a storefront, procuring inventory, hiring staff, and deciding where to do your business banking. But if you ask Shark Tank personality Kevin O'Leary what you need to focus on as a new small business owner, his answer is likely to be none other than "sales."

Why strong sales really matter at the start

At first glance, it's easy to see why O'Leary might encourage small business owners to focus on sales. If you're not making sales, you're not bringing in revenue. And you need revenue to grow and sustain your business.

But that's not the only reason to focus on sales -- particularly during the first two years of operations, says O'Leary. Another big reason to focus on sales is because you're proving your business is legitimate and validating your concept.

O'Leary was quoted by Entrepreneur as having said, "If customers are willing to buy your product or service, it proves you have the right idea and now you just have to make it bigger."

Not only should you focus on sales, says O'Leary, but you should also direct your attention to growing your customer base. This, he says, may require you to get creative, and you may need to be willing to offer up some incentives, like discounts for repeat purchases.

Another option to consider is offering discounts to customers who pay for your product or service in advance. That way, your business gets some early seed money, and you can use that money to grow your product line and -- wait for it -- keep your sales booming.

Don't go it alone

O'Leary's advice for focusing on sales is good advice to follow, but that doesn't mean you should be the only person working to boost sales. If being creative and organized are your top skills, and you're not exactly the aggressive sales type, then you may want to leave that work to someone whose personality is more suited for it.

To that end, hire a sales team, or even a single salesperson, to market and promote your product. That way, you can also spend time on other matters that need to be addressed when your business is in its early stages.

Remember, as a small business owner, you might feel that you need to do everything, but you can't actually do everything. That could easily lead you to burnout. So if sales aren't your strong suit, find someone to help. And even if you're a natural at sales, you might still want to call in some backup so you can handle the big-picture matters that are best left to an actual business owner.

Ultimately, it's sales and loyal customers that are going to be your ticket to growing your business, O'Leary insists. So if that's your goal (which it probably is), then it pays to make the effort to focus on sales, even if it requires you to seek help.