Growing a company requires knowledge in management techniques, human resources, accounting, marketing, legal structure, and a long sub-list within these general categories. It may seem overwhelming when your specialty is in providing a specialized service or product; one can’t possibly know “everything about everything.”
I agree, you can’t possibly be an expert in all the aspects of growing a business. So what is the solution?
The first thing that may come to mind is to hire employees, first in the areas that are most critical to growth and eventually in all areas. There is another caveat, in a small growing business the owner has to do the interviewing. Unless he knows how to judge the depth that an applicant has in a critical area, the only items to look at are personality, appearance, etc., all superficial qualities that don’t define the real need.
As a small business owner that wants to grow, you have to have “overview knowledge” in each of the areas for which you will be hiring.
As an example, our local University is bringing in national speakers in the areas of technology, social media marketing, and new innovations in using technology for growing a business. This is a seven hour presentation involving approximately 10 presenters, booths featuring new products and services and yet only 250 people have signed up for the free presentation. An added feature will be venture capitalists looking to learn about new businesses and their future potential as an investment vehicle. Of the ten people I recommended attending, only one took me up on the offer.
This is a symptom of owners working “in their business instead of on their business”.
There are many opportunities to obtain information for free or a minimum investment, in all areas of business growth. Many of them are sponsored by universities or a professional group, i.e. CPA’s Attorneys, etc.
Make the time to learn about what is happening in related industries that will be critical to your future growth.
The only adequate preparation for tomorrow is the right use of today!
Nick J. Petra CFP We are the experts in helping a business grow to its full potential. Call us for a free consultation. Technology has made it possible for us to work with you directly from our office to yours.
Visit us at: www.strategicduck.com
Make it a Successful today!