When you run your own business, the temptation is there to want to do a lot of work yourself. After all, you might think, no one knows your company better than you- and so if you want a job doing may as well do it yourself right? However there comes a time where you have to let go, and when you can no longer comfortably run all of the elements of your company by yourself it’s time to get in some additional help. Handing over work to someone else can be difficult, but if you want to grow and expand it can be very necessary to do so. Whether it’s hiring your first staff member (or more staff members) or outsourcing some elements of your business to third party companies, the additional help may well be needed. Here’s when you will know that it’s time to hand over the reigns and get in some experts to run different areas of your business.
You’re a New Business
Even if you plan on running your business as a sole trader, just about all of us could use some help in the beginning. This could be reaching out to an investor, or chatting your business plan through with a financial advisor to make sure it’s viable and products are priced properly. It could mean finding an accountant and a lawyer who you may need to work with later down the line, it could mean working with web designers, app designers and marketing experts to allow your company to be the very best it can be. When you’re setting out your business plan, be sure to highlight any areas you think you will need assistance with and then research individuals or companies you can help you from there. Getting everything set up and running well is already a struggle, take some of the load of and ensure things are being done to the best standard by hiring some help.
You Lack the Skills to Carry Out Certain Tasks
Even if you have lots of experience, worldly knowledge and a good understanding of the field that your business is in, you cant possibly always know everything. It could come as a surprise when you lack the resources to get simple tasks done, but no one is capable of being able to do it all. It could be taking care of faulty equipment or installing new furniture. It could be using a company like AYS Technologies when you need IT help and support. There are going to be times when you will benefit from some outside help as you don’t have enough knowledge yourself. If there are certain skills and equipment that you’re going to need to meet customer/client demands, then it may be worth investing in training and equipment. One proactive thing you can do is assess your current skillset thoroughly, and work out what areas you need further knowledge and training in to manage your business effectively. Check out courses, training days and more to gain these skills, or do your research to find experts to hire in the areas you’re lacking in.
You’re Not a Communications Expert
You could have the best business idea in the world, but without the right marketing it’s never going to reach the right people who will buy from your business. For this reason, marketing is one of the most important elements to get right. You will need to spend a significant portion of your budget here, and it’s one thing that can catch new businesses of guard- with many in the belief that ‘if you build it, they will come.’ It’s not the case at all. Marketing is quite tricky, search engines are forever changing the perameters and it’s easy to actually penalise your website if you go about things in the wrong way. Unless you work in the communications industry, you probably don’t have the first clue about how to go about, and so marketing professionals are essential and will be able to handle everything from your marketing strategy to your social media, leaving you to focus on the business itself. You could hire somone to run your marketing campaigns, social media and other marketing strategies, or if you want to remain a sole trader then outsource to a company online who can tackle all of this for you.
You Don’t Have Enough Staff
Making the decision to take on staff members is such a large one in your small business. When you have employees working for you, you’re responsible for providing them with a pension, making sure they remain safe and even keeping aware of things like workplace bullying. You also need to make sure you can sustain staff members and your business is making enough money to be able to pay them. Areas such as administration and payroll are easily outsourced, and it will cost you far less to take these external than having another permanent member of staff on your hands. In time you may find that the cost is worth it, but until then you can get by on hiring a freelancer or someone who works remotely. Maybe you don’t want to hire staff at any point, or perhaps you’re waiting until your company is more established. Either way, you can still get help from professionals by outsourcing instead.
The day-to-day runnings of a business can be incredibly tough. If you’re noticing a decline, it might be time to give your business a boost and make some changes. There’s no such shame in seeking help from time to time, and the professionals will make sure the job gets done to the highest standard. As a business owner you have a reputation to protect, trying to juggle things yourself is likely to lead to mistakes and also burnout by you. The goal of most business owners is to eventually run things from the top, where you can make a profit without having to plough through lots of work yourself.