Just How Small is Small Enough?
At some point in every small business, there comes a time when one must ask: Just how small is small enough?
In the early days of running your own business, it’s natural to do as much as possible yourself. It’s cost effective, comfortable and sensible, at first; but as your company continues to grow, there eventually comes the point when you have to admit you can’t do it all. How do you know when you’ve reached that point? And what do you do when you get there?
First things first; listen to the employees you do have. Are they working very hard— perhaps a little too hard—because they can never get ahead? Are good, productive workers missing deadlines and getting frazzled because of their workload? Do you hear them talking about tasks they’d like to take on if only they had the time?
If so, look at attendance and productivity to substantiate their claims. If what you see confirms what you’re hearing, you may need to look at how current tasks are organized and if additional staff fits into the picture.
Another indicator can be growth trends for your industry or sector. If you’ve seen more than just a blip on the consumer radar and your field has shown a positive growth curve, the evolution of your company will likely follow the curve.
The same holds true if you see, and feel ready for, expansion of the goods or services you provide within your industry, or in a related field. If your company has been established for a few years and you have a couple of good, solid employees, now might be the time to expand your capabilities, and that may require staff expansions.
Perhaps the most important indicator that you need additional staff is likely the original staff person for your organization—you. If you haven’t had a day off since the day your business opened, it may be time to bring in some help. Trusting new people can be a big challenge for many small business owners, but it’s a challenge that must be tackled for growth to be accomplished.
As you know, owning a small business is a very personal experience, so smart hiring decisions are critical to business—and personal—well being; but at a certain point, the needs of your business will become greater than your own expertise, and its important for small business owners to be able to accept the need for outside counsel.
If you don’t lie awake at night and dream about numbers, then you need to bring on someone who does. If you know you want to get the word out there about your business, but don’t know how to do it, hiring a marketing professional will be easier and more cost effective than becoming one yourself, especially if that learning process takes you away from conducting the business you’re trying to market.
When to bring a new member on to a tight-knit team is a big decision, and shouldn’t be taken lightly; but if your employees, your industry’s experts, and most importantly, you, are all indicating the time might be right, it can be a great opportunity to help your small business grow just a little bit bigger.
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Douglas E. Stites is the CEO of Capital Area Michigan Works!, a special purpose unit of government committed to connecting job seekers and employers through innovative programs for both. |
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