When you first started your small business, like Micro-, Lifestyle-, Home-, DIY-, Hobby-, Boomer-, Professional-, Personal business, things are easy – overheads are low, everything is quite informal and you do it all yourself. However one day you will notice you work and work and your work/life balance is gone – was that why you started your business?
What happens next will determine your future in a big way – success or failure, that is the question! You will have to learn to let go and you will have to look at the cost-structure in your SOHO, SME or SMB business, before you make your next move.
Is it something you can outsource to a virtual assistant maybe, something like bookkeeping, it-services, answering your telephone when you are away from your home-office or do you need help full-time with producing, supplying your products or services. While you consider this always think about your fix-cost.
Letting go(?), what does that mean anyway? It certainly does not mean moving your problems onto someone else’s shoulders and forgetting about them – that is called abdicating, not letting go. You have to learn to delegate work to an employee and trust him/her to get it right, that is what letting go means. But here is that proverbial hair in the soup, you need to check what your employees are doing and supervise them, correct them when things are not done the way you want them done and don’t forget to explain why you want them done this way. It will help your employee to understand your motivation and stop him from thinking you are picking on him or her.
So you have the money to pay for the expansion of your small business and you are willing to let go, but supervise and stay involved in a managerial way, then your are one step closer to your small business success story.
Now you have to decide if you should outsource or employ, you are right it – the decision making – never ends. Congratulation – or should I say beware – for you have entered the world of a growing small business.