Currently, 75% of businesses fail in the first 3 years many because they run out of money through lack of sales, poor marketing or cash flow. We don’t want this to be you. Nothing slows you down more than trial & error. If you follow these steps, then you will bring the expertise into your business that can fast-track you on the road to success.
Understand that there is an opportunity cost for you to spend time learning & doing things you dislike or are not good at. Successful businesses are run by busy professionals who spend their time on income-generating business. For example, if for you doing the bookkeeping is not making you money, then outsource it.
It is a fallacy that outsourcing is expensive
If you come up with the right person to outsource to, someone who needs your services too, then you could develop a relationship where this would be a contra deal.
Secondly consider the cost of the time it takes you (probably twice that of the expert) to complete the tasks you dislike, the negative impact to your mindset and the income you have forgone by not doing the business
You don’t know what you don’t know
Running a business requires more knowledge than being an expert in your field. There are legal things to consider, insurances to have, the joys of social media to explore, financials to control etc. When you worked for someone else these things were taken care of. Now it is up to you & in many cases aside from the topic you really have no idea what needs to be done, how to do it & what is appropriate for your business.
We developed this checklist for you..
- Understand your expertise & decide which of these 3 things you want to specialize in marketing, sales or cash flow. You need to be good at one of these to ensure your business is financially viable.
- Find someone to educate you in the secondary skill area whichever one of the 3 you picked. This will be worth the time investment in the long run.
- Find experts in the other 2 fields you would be happy to outsource to.
- List all the topics that you believe are key to running a business (aside from the first 4) NB If you are stuck you can have a look at our list
- Find expert professionals to tell you what you need to know if you were going to do it yourself or outsource.
- Come up with a list of questions to ask someone ready to outsource or employ
If this resonates with you and you would like access to a readymade team of experts who would take the time to focus on your business & share with you the key things you need to know. Simple & easy at a time that suits you. The check out our Growing Professional Services membership which includes 6 Consultations pa with 18 experts to choose from.