It’s this simple: you have to believe in yourself and believe in those around you.
Of the hundreds of entrepreneurs I’ve worked with in my career, there is a common denominator for every one of them who has staying power and who grows his or her business. They know how to get out of their own way. Here’s what I mean.
Let’s start here. You are not always the smartest person in the room. Well, you may be, but perhaps you’re the only person in the room;). Or, maybe you are the person in the room with the most expertise in a particular discipline…a CPA, a doctor, a nurse, an attorney, an engineer, a teacher. People who spend a lot of time to achieve professional credentials are no doubt very intelligent.
Your business, however, depends on more than you and your knowledge and perspective to run and to grow. Shifting your mindset to empower others to do their jobs and excel at their roles is you getting out of your own way. Being open to ideas and mistakes others make, and embracing changes for the advancement of your business is also getting out of your own way. Give yourself permission to let go of ‘ways’ that become outdated and no longer serve your team or your clients.
Now that you are out of your own way, it can be a little scary.
Bumps and setbacks
So let’s address those mistakes, bumps, and setbacks that are going to happen. You are resilient. You will have bumps. You will have setbacks. Stop. Why did you decide to start this business in the first place? What is your WHY? What is your passion? Keep this front and center at all times.
I need to hire people.
Are you sure about that? What do you need them to do?
I hear this all the time. I need to hire a marketing person. A senior tax person. An assistant. I’m so busy- I need to hire people. Ok. But, first, let’s evaluate the people you already have. Are there resources on your team who can do what you think you need to hire someone for? Do you have the RIGHT people in the RIGHT places? Don’t shy away from difficult conversations if they need to take place. This is your business, and you are responsible for it.
Could you outsource manual tasks that any of your team members are doing and better utilize that talent more strategically? Could you hire a short-term contractor to help you vs. needing to simply ‘hire more people?’
One of the other mistakes you can make is hiring your cousin’s dog walker’s nephew because he needs a job and ‘is very responsible.’ Make business decisions, not personal decisions. Doing someone a favor because they need a job (but may not be the right fit) or hiring someone you haven’t appropriately vetted can cost you a lot of time, money, and heartache in the long run.
As simple as this sounds, it is one of the easiest places to gain efficiency and time in a business. This is also an area where you can empower your employees.
Start by brainstorming repeatable events in your business. Onboarding new clients is an example. For every event that is repeatable, appoint a team member who is doing it well to document that process with screenshots and step-by-step written details. Maybe there are multiple people in your organization who are able to work on building a standard process and best practice together. Once documented, you’ll need to collect the final document, determine the best place to store it for everyone to access, and then share it!
Standardizing as many processes as you can always leads to higher profit margins, efficiency, and happier (less overwhelmed) team members.
If this hasn’t come through loudly enough yet, you can’t do it all alone. Building a business takes a team. The right team of employees and the right team of partners that support your business.
The most important thing to remember is that you are not alone on your entrepreneurial journey. If you are just starting out, you don’t know what you don’t know. Working with a business partner who can help you set up your path and hold you accountable along the way can prevent headaches and frustration.
If you’re already on a hamster wheel wondering how to find the time and energy to build your business and get your life back, working with an expert who can get you on the best path financially and operationally can be life-changing.
At Harper & Company CPAs Plus, we know it’s about more than the numbers. We empower entrepreneurs to grow their business and enjoy their journey.
Set up your free consultation today by calling (614) 456-7222. Or, email firstname.lastname@example.org with the best number to reach you, and we’ll be in touch.