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Business Advice: Expanding Your Business from a One Man Band to a Thriving Company by Hannah Connor

Posted on the 19 November 2013 by Stacie Walker Stacie @staciewalker


 

Business Advice: Expanding Your Business from a One Man Band to a Thriving Company

 Your business will suffer if you try to build it alone. Tweet This Post

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Contributing Author: Hannah Connor

When your business begins to develop to a point when you can no longer handle the workload single-handedly it is time to consider outsourcing or hiring staff.

Expansion of a business can be a risky phase in your business strategy – is your business budget able to accommodate extra help? Do you have the time to plan for the changes? Will you business maintain its high standards?

Despite your fears, as your business grows the time will come when you really need to make plans to expand as your business or your business will suffer if you try to take on too much alone.

You must also make sure you manage your time so that you utilize your skills effectively while outsourcing tasks to those who specialise in the particular areas of your business where you have little knowledge.

This will not only speed up your business progression but you will also improve the business as a whole gaining professional help on aspects of the business you might have attempted yourself with little success.

How to get started...

1.) Research

As with each and every service you ever invest in, you must take time to research available companies and professionals. Ask for quotes and discuss exactly what it is you will be getting for your money.

Networking is a fantastic way to speak with your competitors.

While some business owners like to keep their playing cards close to their chest, others are more willing to share ideas, contacts and tips, so you could be recommended some great companies by other professionals in your industry.

2.) Ask for Opinions

If you have found a potential company to work with, it is worth contacting some of their past clients to gain some non-biased feedback-- you might hear their customer service is poor after the initial sales pitch, or that their overall workmanship is poor, on the other hand you might receive glowing reports-- either way this will give you a really clear idea if this is the company to work for you. It could save you a lot of money; mistakes can topple your business when it is in this delicate stage.

3.) Prepare for potential problems

Don’t be afraid to ask companies the tougher questions-- what will they do for you if you don’t like their results? If investing in something that requires continual support such as web development-- will they be on hand to provide support quickly and efficiently? Will they deliver on time and if not, do you receive a reduced fee?

It is always best to outline everything before entering a contract. While some questions are awkward to ask, if you both know where you stand you will have a stronger working relationship.

4.) Hiring Staff

If considering taking on staff, really plan how many hours you need them to cover and what you expect from them.

If you don’t need full time help, simply take on a part time staff member until you are ready to offer more hours. You could always offer internships to get a feeling of how it might operate working alongside another person.

Make sure you outline exactly what the job role is and of course go through an interview process. A lot of the time you must trust your gut instinct, while some people appear to be perfect on paper, rapport is also really important.

5.) Be wary of hiring friends

It’s always awkward working with friends.

If they have a skill which you are in need of, the benefit is you can gain better rates. However, the cheaper rates can cost you your friendship and the results could be of poor quality.

If you do decide to outsource or even hire a friend, make sure as with any other professional, they know exactly what you want, and if the results don’t meet your standards, you must communicate this and manage the situation effectively.

6.) Negotiate

Try your best to negotiate the level of service and fees either gaining extra benefits from your set fee, or by reducing the fee altogether.

While some companies will operate on a fixed fee basis, try to negotiate where possible. If you are a small business, it is likely your business budget is extremely tight. Even a small amount off a fee here and there can be a boost to your budget.

7.) Build a Relationship

As with all aspects of your business, build relationships.

Network, maintain strong communication and meet face to face where possible. Good relationships are proven to lead to stronger results; meeting face to face is worth the time involved.

8.) Feedback

Feedback is essential. If you are really happy with the service provided by a staff member or comapny, let them know how they were good and what aspects of their work you particularly like. This means when they next carry out work for you, they know exactly what standard they are working to and that future work should be delivered to this exact standard.

They need to know where their business can improve and it also gives them the chance to make amends with you as the customer and alter any jobs to your standards. It also gives you the opportunity to ask for a reduced fee.

Most business owners have made judgment errors when expanding having to invest twice due to hiring a company offering a cheaper fee, only to discover their work is too poor to use. It is time consuming and can be expensive hiring staff or outsourcing work, however using these tips, you should gain strong results.

The key is to keep a focus on what you expect and accept no less, yet remain friendly and approachable.

Image Credit: rachel sian via Compfight cc

About the Contributing Author:

Hannah Connor | Woman in Leadership Contributing Author

Hannah Connor works for Voucher Cloud, a leading voucher site. If you would like to expand your knowledge and want to learn more about voucher campaigns, then send an email to [email protected].

Be sure to add Hannah to your circle on Google+ or follow her on Twitter: @HannahConnor

If you enjoyed today's post, then you are going to LOVE the following content. The Woman in Leadership community has more Business Advice for you! 

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