Working Smarter: Tools and Tips for Getting Started as a Small Business Owner
Once you’re ready to get your small business off the ground, you’ll want to create a set of standards to guide your strategy. Develop these good habits early and establish a rhythm of efficiency so that as your business grows, you do too.
Manage Your Time Wisely
As a small business owner, you must efficiently manage your time. Turning a side hustle into a full-time business is time-consuming, of course, but it shouldn’t take over every aspect of your life.
There’s always a temptation when you’re pursuing a passion project to spend endless hours researching, brainstorming, and obsessing over even the smallest details. In the beginning, it’s exciting to dream about what this business could one day become. But you must also consider what will be sustainable in the long term.
Scalability is key to growing a business. Grow too fast, and you risk losing track of finances, hiring the wrong people, or placing orders faster than inventory allows. Don’t move fast enough, and your products and services may become irrelevant before they ever hit production.
The key is to grow incrementally so you have time to adjust, assess the marketplace, and refine your strategy accordingly. For one, your sales and marketing efforts must focus on selling a product or service for which there is already a demand and about which you can raise awareness. Operations then works to develop said product or service. Once you’ve established a rhythm, you must focus your growth so you can develop powerful ROI metrics while meeting demand.
Don’t Be Afraid to Ask for Help
You may feel a sense of ownership or protection over your personal entrepreneurial dream. It’s something in which you’ve invested a lot of time and for which you have a clear vision. However, even the most skilled entrepreneurs need help along the way.
Maybe you’re a marketing, business, and tech expert all in one. But in the more likely case that you’re not, you can find people who can fill in the gaps and whose contributions will take your business to the next level. Hiring the right people takes time, but you can bring tech-savvy freelancers or virtual assistants, for example, on as contractors at first before determining if they’re the right long-term fit for you.
You’ve put in a ton of hard work, and it’s exciting to see your business starting to grow. But your business can’t be everything you want it to be if you find yourself strained, consistently working long hours and late nights. Keep yourself to a regimented schedule as much as possible so you don’t overwork yourself, and rely on those around you to support you in your business efforts or remind you to take a step back when you start to get overwhelmed.