As an entrepreneur, the initial fire in your belly means that it is easy to start and run the core of your new business by yourself. With time, and as your business grows, more responsibilities mean that you could benefit from outside help.
Below are the signs that you need to start looking for skills, strategies, fresh perspectives, and advice from outside your organization:
1. You Have Trouble Keeping Up With Your Finances
For most entrepreneurs, bookkeeping and accounting are tedious chores that can quickly become a full-time role as a business and its client base grows.
When you outsource your financials to a bookkeeper or accountant – in some cases both – you will concentrate on your core business, safe in the knowledge that they are handling your books efficiently.
Besides efficiency, tax consultant Micah Fraim says that, with regard to taxes, entrepreneurs commonly look at their tax obligations and try to look for ways they can “save” on taxes.
He goes on to elaborate that when you make decisions that have your tax implications as your primary motivation, you miss the point: You are not in business to lower your taxes but to make money.
You need a financial advisor to help you make the best financial decisions as your business grows.
2. You Need Help Hiring and Managing a Growing Workforce
If the volume of work coming in is overwhelming, and cannot handle it yourself, you should bring in an operations consultant. They will help you handle a range of tasks that include:
- Recruiting and hiring new employees by advertising, carrying out interviews, and checking references
- Leading orientation and training of new employees
- Informing and enforcement or regulatory compliance rules including wage laws
- Arranging benefits for your employees and their families, including life insurance, health, vision, and dental cover
From recruitment to establishing compensation, an HR consultant will handle people while you focus on growing your business and serving your clients.
3. You Cannot Get a Handle on Online Marketing
An excellent online marketing strategy is vital for the growth of new businesses by helping to attract new customers or clients. However, sales and marketing are two of the most challenging aspects of running a business if you are not an expert.
As part of your overall marketing strategy, you need to plan for social media, email, online content, and a lot more. You then need to track the results of your marketing efforts.
In most organizations, this is a full-time job and, if you are serving existing customers and also trying to handle your marketing, you are likely to make a lot of mistakes.
Fortunately, there is no need to have a full-time marketer for your new business. Instead, you can outsource your marketing to a consultant who will plan, schedule, and strategize to ensure you attract new clients.
An agency digital technology services will ensure that you achieve your business objectives by offering you a single point of contact for all your digital content and marketing-related issues.
4. You Need to Update Your Tech
It is difficult to imagine any modern business which does not use some kind of digital system in its operation.
Unless you operate in the IT field, you will probably need outside help and guidance to ensure that your website is secure, your network optimized, your IP phones work as they should, and your cloud-based data is secure, among many other tech needs.
An IT expert will ensure that all hardware, operating systems, and business apps are operating optimally but, more importantly, they will help you to get ahead of potential IT issues.
For instance, they will ensure that they back up all your business data and mission-critical software, offer training to your staff on critical software systems, and upgrade your systems to the latest versions.
This helps you to have recovery options in place during emergencies such as a security breach or a hard drive crash.
As an entrepreneur with a growing business, it is not advisable to try and handle all operations by yourself, as it will affect the quality of services your clients receive when you juggle multiple unfamiliar roles. Bring in outside help to free up your time, offer better outcomes for clients, and painlessly grow your business.