In the early days of running your business, you’ll need to be prepared to put in blood, sweat and tears to make things work. It will often involve prioritising work over social events and other things in your life, you’ll more than likley be working long hours, weekends and generally burning the candle at both ends.
Build A Business That Can Run Without You
But no business owner wants to be stuck doing that forever, the general aim is to work hard in the beginning so you can eventually have a venture that runs without you.
This means you get all of the profits without the hard work, you can oversee things from the top and be as involved (or uninvolved) as you’d like. Here’s how you can take steps to make it happen.
1] Get the right software
Good software can automate all kinds of areas of your business. No longer are you and your staff stuck doing tedious manual jobs, software will tackle it all for you. It means you can hire less workers (saving you money) and the people you do have working for your business can be used to their full potential.
From accounting software to keep the books balanced to HR and rota planning software to manage your team and everything in between, it’s a crucial thing to get right when you’re running a business.
2] Hire the right people
The reason a company will be able to run without you will be because you’ve hired the right people to do each job. These will be experienced and hardworking individuals who are good at their roles and able to get things done without you holding their hand.
While software can automate whole areas of business, at this point in time, there’s still a lot that it can’t do and so human employees are needed. Spend time hiring the right people for each position, carefully read CVs, conduct multiple interviews if you need to to help narrow it down.
Treat your employees well so they have a reason to stay with you, reducing staff turnover rate is important for your team’s morale, and it will also save you money too. Every time someone leaves, you have to spend money on recruiting, interviewing and training so of course you’ll want to keep this down.
In some cases, hiring your own in-house employees will make the most sense, but in other cases you’re much better off outsourcing. If for example you have work that’s occasional or infrequent such as web and app design or blog post writing then it wouldn’t make sense to hire a full time employee.
Outsourcing can also be useful when you want to avoid the costs involved with setting up a whole new department. Instead of moving to bigger premises, purchasing new computers, hiring new staff (and all the costs involved) you could hire a company that already has everything in place.