Is Your Small Business Too Big to Handle Alone?
T3: Optimize Your Time, Talent, and Treasure
By Courtney S. Dade, CEO and Chief Strategist, CSD Marketing and Consulting, LLC
Congratulations! You have successfully turned your dream of running your own small business into a reality.
Now, you have come to realize you didn’t think the operational part of the new business all the way through.
The nuts and bolts of running a successful business, no matter the size, has proven to be the downfall of more than one novice entrepreneur.
Whether it is accounting details, employee concerns, dealing with suppliers or contractual matters, the minutiae of running a successful business takes a great deal of time and concentration. For those business owners who have grand dreams of expanding their small operation into a larger one, the tiny details stand in the way of imagination.
Without knowledge of your specific operational hierarchy, it is impossible to offer specific solutions here. What we at CSD Marketing can do (and will do in the next few paragraphs) is let you know the details that we can assist you in handling so you can get back to designing your next great product or service.
Human resources issues
The joy of hiring talented employees to help your small business grow is tempered by the difficulty that comes with having talented employees. Or any employees, for that matter.
It can seem as if every employee comes with their own special circumstances that must be addressed. The truth of the matter is that business owners new to the concept of HR struggle to prepare themselves for the scope of issues which come up with employees, especially if you are a business owner who wants to provide a comfortable and inviting work environment.
There are books and video tutorials which can address the problems you are having with human resources. However, they tend to spray to all fields. Finding answers to specific questions relies on searching chapter after chapter or fast-forwarding through videos to find those which may or may not fully address your situation.
However, one conversation with a small business management expert can address specific concerns. And, since it is possible that you have multiple issues to discuss, that one conversation can cover all of your bases in a single interaction, or at least send you in the proper direction to resolve your issues.
Persnickety Payroll Problems
Paying your employees is not the problem; there are dozens of payroll accounting systems which you can hire that can properly deliver paychecks to your employees, whether you are paying via direct deposit or some other form of electronic transaction, or still sending paychecks in some way.
What you are struggling with is changes in payroll. Your business is succeeding and you want to share in your success with those who have helped you create more profitability. But changes in pay structure, whether it is in bonuses or an alternation of salary and wages, is a very tricky business, and not one to be taken up lightly.
The good news is that you are not the first successful small business owner who has had to make changes in payroll structure. That does not change the fact that you need to consider a smooth, patterned and deliberate manner of changing employee compensation.
This can also lead to conversations regarding employee benefits such as individual retirement accounts, 401(k)s and health spending accounts (HSAs). If you are considering any of those additions to your employee benefits, it is best to take small steps, and it is best to discuss those small steps with someone who has considered those small steps before.
You certainly know this, but the modern world has thrown a new wrinkle into the role of small business owner: remote employment.
The decision to be made – allow remote work or demand in-office attendance – is unique to each company. It may not be possible for your work to be done remotely. But, if remote employment is a possibility, or if you can consider hybride working conditions, there are many different avenues that must be crossed. Trying to navigate this decision is a first-time headache that should not be addressed without serious thought and possible consultation with business management professionals.
(For every employee who likes the idea of remote working, another will be displeased, and vice-versa. Hybrid work conditions might actually exacerbate the conflict. Much thought is required.)
Supply chain issues
No matter what it is you need to supply your production or service, there is the matter of acquiring said goods. And any organizational or administrative tutorial will warn you about the battles that exist in terms of supply chain matters.
Depending on the quantity and frequency of supply chain needs, you likely have someone assisting you in this process. Check in with that person from time to time to be aware of the difficulties he or she is dealing with. They may not want to bother you with the details, but you need to know them.
If you are handling supply chain matters yourself, you know the amount of time it takes to get the materials you need, as well as the time it takes to negotiate costs. Any information that can standardize or simplify those processes is beneficial to your bottom line and your daily schedule.
There are other topics of concern for small business owners (marketing, for example), but the concern here is those areas of your business that you try to navigate alone, or without professional support.
Time to Phone a Friend
You must decide the value of your time and effort handling these internal matters versus initiating a conversation with CSD Marketing to guide you to a simpler tomorrow.
Or next month, maybe.
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