Running your own business and being your own boss is awesome. Doing it alone is not. Many small businesses crumble because the owner tries to do everything on their own. As a business owner, you will need to focus on growing your business. An essential key to that is delegating out parts of your business to others.
1. You Never Have Time
To run a business you need to have time for sales, marketing, networking, finance, design, and customer relations. That is 6 full-time jobs to name the basics. If you do all these and are constantly telling yourself (or other people) that you’re always busy, it's a sign it's time to find some help. Time is the most valuable thing you have. If you have none it’s not a good thing.
2. You’re Revenue is Plateauing
Sometimes losing money isn’t as simple as seeing your revenue plateau. Too often solo-preneuers are leaving money on the table because they are busy working in their business. While you're busy learning how to make a website, or god forbid learning how to run a TikTok account, you're missing out on the high-level tasks that only you can do as a business owner. That is building relationships with your clients.
3. You Lack the Skills
The job of a business owner is not to be an expert at all things. Your job is to recognize expertise and focus it towards a common goal. At some point, your skillset will be lacking when it comes to some part of running your business. That doesn’t mean you should avoid those facets of your business. This is an excellent opportunity to find another expert to complement your skillset.
4. Your Passion Is Slipping
Not really feeling it anymore? Doesn’t seem that enjoyable anymore? That is what we call burnout. Why does this happen to so many passionate entrepreneurs? While your time is spent doing everything for your business, like sales and marketing, you’re not able to do what made you fall in love with being a business owner in the first place. You spend all your time talking about your cake instead of getting to be the one who makes it.
5. You Can’t Scale
Will your business live longer than you do? This might be kind of a grim question, but it’s a thought-provoking one to ask yourself. If you value your offer and think it leaves a positive impact, you should spread your offer to as many people as possible and preserve your offer for as long as possible.
Once your business has hit growth mode, doing everything all by yourself will no longer be sustainable. What you will need is a partner, or two or three. Hiring might seem like another expense you can’t afford. However, hiring the right person could help you grow your business far beyond what you thought possible. At the end of the day, a team will always beat an individual.
