Humans are limited. It’s not a malicious thing to say, it’s a cold, hard fact. We have boundless energy and endless potential, but we are limited. We start businesses with stars in our eyes rather than realities in our minds, and it’s for this reason that half of all businesses fail. It’s one thing to have an idea but when you are spending time ensuring that your idea is perfect and nothing else, then a business will collapse. Being a small business owner means taking on a lot of the tasks of your business yourself in the early days, and it’s an exhausting cross that you promise to bear because the early days never last. Or so you tell yourself.
The thing is, many small business owners try to take on far too much and they do not ask anyone for help. Which is a big problem. Having a ‘doing it all yourself’ mentality is a bold one, an admirable one, but it isn’t one that is going to sustain your company for long. Being a leader doesn’t mean doing it all, it means seeing where you can thrive and seeing where you are weak. When you can identify your weaknesses, you can capitalise on them. Being weak when dealing with IT systems means outsourcing to managed IT services. Having a weakness in marketing means outsourcing to a freelancer or a specialist company. Ask yourself how you are focusing in your business and whether you are doing the right thing with your tasks. Are you doing things because you have an interest in them or are you doing things because you feel you have to?
If you are rubbish at managing finances, then surely making a point of managing finances for your business is an idea that just isn’t sustainable? Outsourcing to a finance company or an accountant isn’t a weakness. Instead, you’ve identified what you are not strong at and you’re bringing in someone who can do it for you. Trying to do it all yourself is only going to sacrifice quality in your business and make it hard for you to push your company to success. Investors and other companies want to see you do well, they want to bask in your successes. They don’t want to see you flapping around trying to be the best when you are unable to do more than the minimum.
Your business growth is crucial for your continued profitability and you cannot hope to grow a company when you are bad at the tasks that are necessary for success. You spend time hiring staff who are experts in their field for the pure reason that you are not an expert. Own that fact and show yourself how good you can be. There’s no need to worry about business failure if you are concentrating on what you CAN do, while asking others to do the things that you cannot. It’s a trait of a good business owner to be honest – be honest with yourself and do what you can do. Success will follow.
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