If you have a home business, you probably set it up yourself, and you take care of everything from creation to sales to shipping. And while it can be difficult to hand the reins to someone else, the truth is you can’t do it all and expect to grow. Continuing to juggle all the tasks that go into running a successful business will not only burn you out, but it will deprive your business the opportunity to thrive.
Be Honest with Yourself
Take note of all the tasks you complete in a day with regard to your business. Are there any areas where you struggle? Maybe you don’t update your website as much as you should or have trouble keeping up with hashtags on Instagram. Are your tax receipts sitting in a shoebox so you can deal with them at year-end, or worse, absent altogether?
On the other hand, identify your business strengths. What are some of the things regarding the business that only you can do? For example, if you own a jewelry business, you are likely the only one who can create the jewelry because the product reflects your creative process.
If you don’t have to be the one to complete the task, there’s a possibility you could farm it out to a contractor or hire an employee.
Know When It’s Time
Obviously, if your business is brand new or if you haven’t turned a profit, you’ll continue to take care of business matters yourself. But once your business brings in an income and you feel like you’re treading water and not growing, it may be time to hire help.
Remember, you don’t need to establish different departments and delegate all at once. Start with your weak points and do a cost-analysis to see in what areas hiring an expert will benefit you the most.
Determine Your Wants and Needs
Once you identify your strong points, weak points, and the areas you want to outsource, it’s time to look for an expert. Establishing a department for a home business simply means that everything about that task is now the responsibility of the expert you either contract or employ. Your only remaining role there is for oversight and monitoring for effectiveness.
For example, if you hold inventory for a product you sell online and want an expert in logistics optimization to handle all your shipping needs, you only need to make sure the department is effective and running smoothly.
Contract or Employee
There are two ways to bring in paid assistance for your business. You can either employ someone or hire a contractor. If you hire someone as an employee, you retain control over how they handle their responsibilities. Not only that, but there are tax implications you’re responsible for paying to the government for that employee.
An independent contractor is someone you pay outside of your business to complete a job. You have no control over how they complete the task; they work independently of you. And you don’t pay taxes for a contractor like you would for an employee.
Before you decide what type of help you want, familiarize yourself with the differences between the two.
You Are Not an Island
Yes, you brought your business into this world, but you don’t have to run it alone for the rest of your days. For growth to happen in life, and in business, change has to occur. Deciding to piece out parts of your business into departments is a smart way to continue to build your creation into something bigger while keeping it manageable.