The past few weeks my focus has been on recruiters, hiring managers and staffing professionals, and while I love writing about the HR world, its time I show some love to someone else.
The truth is we all, this includes the HR pros, are tied together by a common thread: business owners. Without the brilliant minds that start-up businesses we wouldn’t have jobs. But how do you make a successful business, overcome challenges and get to be the next Apple, Google or Starbucks of your industry?
I don’t have that answer (I wish I did) but what I do have is insight into the top 5 problems small businesses face and a solution for those problems.
Sometimes you may not know about a problem until someone brings it to your attention. For this reason I am going to start with the problems and explain how they can hurt your business.
1. The ‘Do it Yourself’ attitude
Many business owners start a business thinking I can do this by myself. The truth is you can try but trying to do it all will bring your eventual demise. You put money, time and everything you have into your business that last thing you want is for it to fail. Accept help, it may not seem like much at first but soon enough you’ll have more on your plate than you know what to do with.
It’s no secret that starting a business is an investment. But it should even out right? Yes, however, it gets worse before it gets better. Be prepared before you get in over your head.
This ties in with the ‘do it yourself’ attitude. Starting a business on paper seems simple but when you get in it – the logistics of it can be daunting.
4. Government Requirements
To add to stress, the government regulates everything: from starting the business to hiring to how you conduct your business. There is a rule for everything; if you don’t stay educated this could become a big problem.
Finally, you do it. You get past all the trials and errors. You are up to date on regulations and you’ve hired your staff, but the money isn’t coming in. This problem isn’t with the product or the company, it’s with the staff. The hiring process is a vital part of a business with an inadequate staff, success is impossible.
Now that I have pointed out the problems let’s brighten your day with a solution. There is one simple solution for all of these problems: Outsource.
Stick with what you know and get the help you need. Having trouble with expenses? Don’t try and be an accountant if you’re not one. Seem to hire all the wrong people? Let a screening company help. There is no shame in asking for help and outsourcing has many benefits including cost efficiency.
Now I know this isn’t the ‘be all end all’ you were hoping for but it is a start. Remember the saying, “slow and steady wins the race.” Ok, lame reference I know but it’s true; the baby steps you take now will lead to success in the end.
What is the biggest challenge your business is facing? Tell us about it in the comments below.