This is a common conundrum for many small businesses. If you started your business with a view to being your own boss and generating an income, that meets your needs and fits in with your life, what should you do when you then become inundated with work? For sole traders that are good at what they do it can be no time at all before you have filled all the hours in your day and are turning work away? You may find yourself thinking of ways to scale the business to cope with the demand for your products or services.
If you chose the path of self-employment to fit in with children or to suit your lifestyle you may not want to grow, being quite happy as you are. If see that growth is too good an opportunity to miss you will need cost effective and non-problematic solutions. We look at methods of upscaling your business that are manageable and effective.
The freelance market is booming. For small businesses who don’t want the hassle of taking on full or part time staff, freelancing offers solutions to get the jobs that you need done effectively, on time and on budget. There are many freelancing websites that you can simply join and start looking for people to fulfil your requirements immediately. You can find freelancers who are skilled in many areas –marketing, content writing, social media, design, book keeping even Personal Assistants or Virtual Assistants as they are known when hired online. This gives you the means to get the tasks done that you don’t have time for or allows you to free up time to get on with other duties.
Do more “effective” tasks
Some new business owners get caught up in time consuming tasks that have little impact on the bottom line. Here’s a tip to help you avoid this trap. For the next week keep a planner by your desk – something like this:
Keep a record of what you spend your time on each day – then at the end of the week analyse it and see if the time spent was really the most effective use of your time. You may surprise yourself and realise that a lot of your time could be better spent on more effective tasks.
Taking on staff
You may want to avoid going down this route especially if you only need ways to make a few hours back each week but if you are serious about growing your business then you will need to look at hiring staff. You can start slowly and recruit one member of staff at a time. You don’t need to go out and hire a whole department. Before you take on staff you need to research everything that is required of you as an employer – tax, national insurance contributions, pension entitlements, health and safety at work, employment law etc. and a whole host of other laws and regulations.
Whatever it is you choose to do you are advised to research each avenue before you proceed. Evaluate each option and assess if is the right course of action for you to achieve the desired results.