Starting Out In The World Of Small Business? Remember: You Are Not Alone
Not having a boss. Deciding your own hours. Unparalleled freedom and autonomy. Making a name for yourself in the world of business. Potential income far beyond your previous salaried pay scale and the opportunity to make positive and lasting relationships every day.
These are just a few of the reasons why people decide to go into business for themselves. Yet, while it can be incredibly liberating to strike out on your own, let’s be honest- it can be extremely scary, too!
Employment lends one structure and support that they have to provide for themselves once they start down the path of entrepreneurship. Indeed, running your own business can feel very lonely at times, even when you’re surrounded by employees. It’s not uncommon for new entrepreneurs to yearn for support and guidance. If you’re just starting out on this journey it’s vital that you remember: you are not alone!
Every industry has its own challenges and pitfalls and while there’s plenty of free information available online, there’s no substitute for a one-to-one meeting with somebody who has experience running a business in your chosen field. Business mentors are an invaluable source of knowledge and guidance and can help you to learn from their successes and their mistakes. Here’s some government advice on where to find a business mentor.
You may have assembled a scrappy team with an impressive array of experience and talent but this does not necessarily mean that you have all of the skills necessary to run a business between you. Don’t be afraid to rely on outsourced help to fill in gaps in your collective knowledge. Whether it’s a digital marketing agency, an IT specialist, a HR service provider, an accountant or even an outside consultant. Outsourced help will usually generate or save more money than it costs.
Leaning on the skills, talent and knowledge of third parties allows you all of the benefits of highly trained and knowledgeable employees with only a fraction of the overhead expense.
While your team may grow as your business expands, never lose the sense of a cohesive team dynamic that you shared when you were trying to get your enterprise off the ground. Ensure that your employees feel valued as they make have ideas, knowledge and insights which could provide the keys for unlocking new growth and prosperity. Make sure that they have a forum in which they can convey ideas and suggestions which could improve your operations or boost productivity and efficiency.
You have a bird’s eye view of your business but your employees can bring you a fresh perspective from the ground.
Speaking of valuable perspectives, never underestimate the importance of customer feedback. Your customers are an extremely useful source of insight into how your business operates from their perspective and if they find something to be lacking it’s in your best interests to find out what it is and rectify it.
Be sure to encourage (and if need be incentivise) customer feedback.
It may feel as though you’re on your own, but there’s so much potential help out there you should always have a guiding hand when you need one.