It’s been said many times that a business is like a baby. When you get to see an idea grow from inception to reality, you not only become attached but tend to fall in love with it over and over again. Seeing it grow into what you imagined puts the icing on the cake.
Early/Growth Phase
In the early stages, you are careful not to make certain moves that can hurt your business or hinder its growth. You slowly adjust and adapt to its needs. At this point, you also do whatever is required to positioning it before your intended audience. You are now actively meeting the demands of a specific group of people. It is growing beautifully before your eyes, and your bond deepens.
Detachment
We must remember that just like with a child, there should come a time when you must be able to be separated from your business. When your company is growing and expanding, we can loosen the reigns a little bit. What does this mean for you and your business?
As a business owner, it is important to not have the operations of the company solely in the hands of one person. This is especially important as it expands. Your company should be set up in a way that when it’s passed on, things continue business as usual. The person who takes over should be able to easily pick up where you left off and keep it afloat.
Undoubtedly, it can be incredibly difficult for entrepreneurs to trust someone enough to hand over any aspect of it. Many business owners work themselves to exhaustion because they can’t bring themselves to take a weekend off. They even end up neglecting their most important relationships and never getting to enjoy their successes because there’s always more to do.
The most successful entrepreneurs know they can’t do it all—nor should they. They build in time for rest so in order to be more productive at work. Train someone early on to run the business in your absence so you can take a rejuvenating vacation, and enjoy the freedom you likely dreamed of when you first imagined going into business for yourself. After all, we won’t be around forever.
As you position your business for continuity and growth, don’t forget to hire experts to manage your finances and keep proper records. This could easily be the difference between and quick death and sustainable growth.
As a full-service bookkeeping agency, we focus on assisting small businesses and startups to stay on track with their finances. This helps to keep you aware of needs and trends and maximize profitability. Feel free to connect with us. You may start by booking your FREE non-obligatory consultation.