September 9, 2011

Heavy Lies the Crown

Assuming leadership and guiding your team is the prerogative for many business owners. This is by no means wrong, but is it the best way to go about decision-making? Can one person really manage every aspect of the business him or herself? If you’re attempting to run a business entirely by yourself (and we mean entirely), perhaps there are some lessons to be learned from those around you.

Making Time For Your Business

By assuming the role of a business leader, you are expected to solve any problem posed to you. If you run a plumbing business, no drain can ever be too clogged, nor can a network issue be unsolvable for an IT firm. The mechanics of your industry are your niche. Marketing and advertising, however, are two indispensable fields that are most likely beyond your area of expertise. They allow your business to grow and mature over time, yet operating and spreading the word at the same time is a difficult balancing act. It is important to remember that there are a limited number of hours in the day, and time is the most valuable of all the resources at your disposal. Consider getting some help.

Strength in Numbers

Partnerships between businesses should never be struggles between businesses. When you hire an accounting company to manage your business’s funds, they do just that. They don’t tell you how to swing the hammer. It is a relationship that is both effective and, if truly successful, financially rewarding. By hiring an external company to manage specific aspects of your business, you are giving yourself more time to tend to your tasks at hand. Your accountant shouldn’t be thought of as an accountant in the classic sense, but rather, as your business’s part time chief financial officer, or CFO.

Time is the Ultimate Test

Once you take the leap to bring in an external business for your internal affairs, you can now start thinking forward. After choosing the right company to produce marketing materials, results will be evident, but a long-term plan and relationship with this company could be even more beneficial. Time previously spent on marketing efforts in-house is now yours to spend managing the business and pursuing sales. Additionally, contract rates tend to run lower than project rates, so there is the potential for even greater savings over the long haul. In time, this can lead to more business opportunities for you, thanks to both your advertising team and your own portfolio.

In short, if you are an independent business owner assuming the weight of the world in managing your business, consider partnering with the right businesses. Think of Splendor Design Group not as your website builder or logo designer; think of us as your part-time marketing team.