When I speak to entrepreneurs about why they started a business, most will mention the sense of control. While this is a very attractive feature, it’s important to remember that doing everything alone could be one of the worst decisions you ever make.
For starters, nobody is perfect. We all have strengths and weaknesses. Embracing the help of others to fill in your blind spots can make a world of difference.
Secondly, even if you have all the talent in the world, you can only achieve so much with one pair of hands.
Surrounding yourself with the right people is one of the key steps to maximise productivity and profitability. Better still, it allows you to invest more of your time on the projects you feel most passionately about. Appreciating the value of seeking support is one thing, but knowing where to gain it is another altogether.
Employees
First and foremost, you should aim to build a solid workforce. In today’s climate, this may include on-site teams as well as remote workers. They can complete the jobs that you have not yet perfected. Better still, they can maintain professional standards. In turn, this allows you to focus on your work without mental distractions.
A successful recruitment drive will be vital. You must learn to focus on their personality traits and ability to work autonomously as well as their qualifications and skills. Otherwise, you may face several stumbling blocks. Recruitment should be followed by smart onboarding habits.
The best workers will actively show passion for the role and industry, not least because they want to progress their careers. Use this motivation to invest in their development. You can do this through staff training and programmes like PushFar mentoring. It is also worth listening to their opinions on the latest developments in their fields.
A strong team of engaged workers who perform consistently on an individual and collective level will be your greatest asset by far.
Outsourced Services
The concept of outsourcing has gained a lot of attention in recent years. You will probably look to outsourced IT management and cybersecurity from teams like Sophos will be on your agenda. However, the efforts should be extended to cover a host of other issues.
While many people think of outsourcing as a new concept, businesses have used other firms to complete tasks for generations. Partnering with the right courier service, parts provider, or stock management team can work wonders. Likewise, you may find that marketing efforts can be left to outsiders.
The benefits of using outside services are clear. You will be guaranteed a professional service. Likewise, you can forecast the exact costs and timeframes involved. This is often a lot harder when dealing with in-house efforts. Besides, when your on-site teams are smaller, they can benefit from more of your attention.
Outsourcing services can also cut down on some of the admin and HR aspects. Their support to your SME can be huge.
Existing Customers
Reaching new customers is naturally one of the biggest challenges facing any business. Whether it’s B2B or B2C, building a client base is key for keeping the company on the right path. However, new leads will receive your ad campaigns with a pinch of salt. If you already have a group of loyal customers, you should utilise them.
The power of recommendation and social proof has never been greater. Asking people to leave positive reviews through Trustpilot or Google My Business can work wonders. When people search for products like yours and see that your company is trustworthy, big results will follow.
You can also look to implement affiliate schemes that reward customers for bringing new clients to your door. This can be supported further by social media influencers. They are now deemed better than celebrity endorsements, especially if they have a similar audience.
Outsiders can also view your business from a client’s perspective to identify its USPs. This can only make it more attractive to outsiders.
Data Analytics
Finally, the support gained in business does not have to be limited to human assistance. It can also come from advanced data analytics and other forms of automation. For starters, concepts like A/B testing will lead you to more calculated choices in a variety of tasks. This will subsequently help unlock the company’s full potential.
Data analytics can also be used to spend trends based on past client experiences/ or help you think about agile mindsets and frameworks.. When added to other modern tools like chatbots and virtual assistance, the results are simply fantastic.
In conclusion, if you’ve thought about going it alone. Don’t.
