The Small Business Owner’s Dilemma

If you are currently a small business owner, or are seriously considering starting your own business, this article has been written to help navigate those people who do not come from a business background.Beginning a business from scratch is a big deal and should not be taken lightly. First, consider why it is that you have decided to launch your own business.Many people start their own businesses because they:1. Do not feel happy in their current career or job2. Have a marketable skill and want to be their own boss3. Desire to work flexible hours4. Desire to do something they are passionate about5. Are unable to find other employment6. See the need for filling a gap in an industry7. Have invented something that they would like to market8. Want to make moneyPin-point why it is that you are starting this endeavor and what is the catalyst for your decision. From this vantage point, you can logically view the basis of rational for birthing a completely new business entity, that YOU will be responsible for maintaining.Starting and maintaining a business is not just about ‘making the widgets’. There are many pieces to consider, some of which are time sensitive. Examples include:1.When and how to pay your taxes2. How to obtain a business license for your area3. Whether or not you should be a sole proprietor or to incorporate4. Where to get liability and other business insurance5. Methods to market your business services or products6. Scheduling your time7. Ordering needed items8. Bookkeeping and organizing files9. Invoicing customers and following up with outstanding balances10. Customer relations, returning phone calls and emails11. Warranty work, returns, complaints, etc.When you have your own business, yes, you are the boss, but that also means you are the sole accountable person for your business and all that it entails, too.As your business grows, you reach that point that you just don’t feel as if you can handle all of the responsibilities for your business. When you start to feel as though things are slipping through the cracks, it is time to outsource some help, and/or hire support staff that have more experience (and more patience) for what needs to be accomplished.Where to begin? In order to delegate responsibilities, you first need to create a list of everything that needs to be taken care of. Be as detailed as possible, and remember, your list may grow and change as your business grows and changes.When you have completed the list of responsibilities, choose those items that you feel the most comfortable, capable and enjoyable doing. Delegate the rest of those responsibilities to trustworthy professionals. As the owner, even though you assign responsibilities to other people and companies, you still are responsible for following up and guiding your team members throughout the projects they do for you.

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