How To Know If You Are Capable Of Growing Your Business

Blog / Human Resources Services

Whether your aspirations for your business are for local domination or taking on the world’s leader in your industry, by now you have figured out there is a lot involved in just keeping a business running well, never mind growth. It can be frustrating to think about how to grow your business, now to compete with your formidable competitor, and worry about increasing sales. It is hard to admit for more than a few entrepreneurs that making a company grow is much harder than they thought. Sometimes trying to figure out this entrepreneurial conundrum can feel like bashing your head against your office door, just trying to get it to open. In order to figure out how to solve this problem, one must take a good hard look at what behaviors are actually standing in the way of your own growth. Sad but true, most of the time a company doesn’t grow is because something within the leadership is preventing it from happening.

Why You Are The Reason You Are Not Growing Your Business

If you think you have the stomach for it, here are some honest reasons why you might not be capable of growing your business: Too busy with busy work -Getting to “it” later is not going to get you to it at all. No business can survive if the person primarily in charge of growing your business is too busy to do it. There are things that need to be done; payroll, taxes, bill paying, supply ordering, etc. Yes, those are important to do, especially if supply ordering means being able to make or do more of what you sell. We get it. Do you need to do it though? How much does it cost you to not do what it is that you do? Do you think you would take a job for $9.00 per hour instead of the hourly wage you make when you are doing what your company does? That is an absurd question yet that is exactly what you decide when you want to do your busy work and get to finding new business later. You are not adding to your bottom line by sitting at your desk shuffling papers. It is well worth your time to get creative and give the busy work to someone else so you can get back to working on growing your business instead of working in it. If you are telling people you feel like you wear all the hats at work, you are doing too much and getting little done for growing your business. There are virtual assistants, payroll companies and solutions, such as PEO services, specifically geared towards small businesses to help them run more efficiently. If you think you can’t afford the fees, remember you are not earning anything when you do these tasks instead of growing your business and you are not producing income for anyone. Not outsourcing when you need to - It is said that good leaders know how to delegate. If you feel like you are too busy doing everything to think of ways to grow your business, that is a classic sign of failure to delegate. Rome wasn't built in day and it certainly was not built by one person either. You may not have the resources to hire full-timers, but there are lots of ways to procure freelancer workers to take on the overflow when you need it. You have to decide for yourself, can you really not afford to find some help or are you afraid to let someone help you? If you are so busy that things are slipping through the cracks, you need help. Get some. HR Functions can be an all encompassing task. Most entrepreneurs have never had any experience with human resources and employment law or enough to know what they need to know to run successfully in accordance with local, federal and state guidelines. There is an employment laws chart to get you started, but employment laws change all the time. How will you keep up? This is another great reason to consider outsourcing your HR functions. Compliance is nothing to mess with, and you don’t have time to do it all if you want to grow your business. No clear sales strategy -Do you have a strategy for driving sales? What is it? Do you employees know what it is? If your strategy for sales is simply getting more sales then you really don’t have a strategy at all. Having a strategy means having a detailed plan; a road map for success. A lot of entrepreneurs rely too heavily on their LinkedIn accounts of past clients and people in their network but that only goes so far. How will find new business when you have gone through everyone you know already? For some, joining MeetUps and attending networking events are good ways to find new business, but that isn’t all that needs to happen to work on driving sales. You will also need a good online marketing strategy, especially if you are the only sales person you have. You’ll need lead generation to keep inquiries coming in that you can work on. How will you achieve that? If you are too busy working in your business, doing tasks you don’t need to be doing, you will never get to it. That is the harsh reality for a lot of small business owners. They don’t have more sales because they are too busy with busy work to find any. Something needs to give. A PEO service can actually help you with all of the things you need; HR outsourcing, hiring help, and managing payroll and benefits so you can get to growing sales. You got into business for yourself to be your own boss not your own administrative assistant. Get to it! Free yourself from the rudimentary tasks that stifle your efforts and build a bigger business in 2016.

If you’d like to find out more about how PEOs can help you provide great benefits and payroll management at less than you are paying now, contact us today for a free consultation.

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How To Know If You Are Capable Of Growing Your Business

Blog / Human Resources Services

Why You Are The Reason You Are Not Growing Your Business

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