Here’s a question for all the solopreneurs or business owners out there. How’s business going?
If your answer is ‘great’, then great!
But should you answer with ‘I need help’, then perhaps you need to call in experts like Brainiact business coaching to guide your organisation to a firmer footing.
However, what if you aren’t sure?
Well, if that is the case, it is important to recognize these five tell-tale signs that your business might need assistance.
#1 Business is booming
Getting help doesn’t have to be a negative. Indeed, if your business is booming to the point that you are regularly selling out of stock or the service you are offering is constantly fully booked, then this is an excellent time to seek support.
This could take several forms, including hiring new staff to cope with the demand, outsourcing the least profitable activities in your workload, such as accounting or social media to freelancers and exploring opportunities for expansion.
Sometimes, we can all get too involved in working in our business to work on our business. So, it is important not to miss the opportunities that a booming business can bring.
#2 Your business is stagnating
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For many businesses, there comes a time when the operation is stagnating. Usually, this is defined by a plateauing revenue month on in.
This scenario should raise some red flags because if your business is not increasing its revenue, it is not really going anywhere.
If this is indicative of your company, then you’ll need to ask yourself the tough question, ‘How actively have I been trying to grow my business?’.
Often, a stagnating business is due to an owner getting caught up in the everyday running of it and not focusing on their sales and marketing efforts. That said, this can also be the case even if regular campaigns have been run to generate revenue. Either way, help could be beneficial.
#3 Your business has become a labour of love
Running a business is tough, and while you might have started yours with plenty of enthusiasm, it's only natural over the years that this might dissipate - particularly if you are experiencing tough times.
Should you find yourself having fallen out of love with your business, then it is a good time to call for help. This could take the form of anything from a business coach who can help you plot a path to improved fortunes to onboarding new employees who can assist with the daily completion of your more mundane tasks.
Ultimately, if you have fallen out of love with your business, you’ll need some help at the very least to reignite your passion for it.
#4 You are spending hours Googling things
As a business owner, you’ve got to love Google. It is a wonderful tool that provides you with the information you need to do pretty much anything you want for free. Only it's not free. It actually costs you in terms of your time.
The old saying in business that ‘time is money’ is very true. So, if you find yourself spending large parts of your day and night Googling various things to improve the strategic or operational efficiency of your organisation, then you need to either call in an expert or find someone to do the research for you.
At the end of the day, your time is money. So, you should place a value on it and focus on the activities that are most profitable and beneficial for your business.
#5 You struggle to complete your to-do list
There is nothing worse than having a to-do list that is never-ending. But the thing with a to-do list is that it should eventually end, or at least notably reduce.
If yours is not, then you can take it as a sign that you either have far too much work for one person to reasonably manage, are not assuming enough accountability, or are not working smart enough. Either way, it is a surefire sign that you need some assistance.
Don’t get us wrong, you’ll always have a to-do list. That is the nature of business. But to run a successful venture, you need to be able to complete tasks quickly and efficiently. If you are struggling to do that, it doesn’t bode well for its future.