In common with a lot of our customers, we are a growing SME business and as such, are currently or have previously experienced a number of the same issues. These are many and varied, as is working for yourself, but in this series of posts, we will look at 5 things that we think are key to building a growing business.
4. Founder Dependency
5. Balancing Quality with Growth
In our previous blogs, we have looked at the importance of having a breadth of customers with different sized projects, and in our follow-on blogs in the same series, we focused on the need to bring in expertise to help with money management and then the requirement for the business owner to take a break occasionally!
This time we look at the danger of the entire business needing you to be in it. Or the “what would happen if you were hit by a bus tomorrow morning” scenario. Any business that cannot operate without its founder is a business with a fast-approaching, hidden, deadline.
You are not alone in this as many businesses suffer from this founder dependency and it is more often than not caused by the owner not being able to give responsibilities or passing on decision-making to others as the business grows. In theory, meeting this challenge is easy. You, the business owner, merely have to give more control to employees and partners.
In practice, however, this is the big stumbling block for business owners because it usually involves compromising in your view, for the short term, on the quality of work being completed but this is usually only until the person doing the work learns the ropes (or until you find that doing things slightly differently is no bad thing!)
Creatively Yours Ltd helps Small Businesses and Start-Ups to succeed online through our Helponomics system that offers support and training as you need it and highlights areas that could increase your sales.