Advice I most often give a start-up businesses is to focus on what you are best at: Be the talent or produce the product and do your best to focus on that expertise. Where and when possible, find other avenues to get help on the other fronts, such as PR ;), tech, accounting and finance. As entrepreneurs we often wear many hats, and we need to, but eventually you will be spread thin. Use experts for areas where they might know how to better develop that aspect of the business. You, the driver of the concept, should be concentrating on the talent, product, or issue you are offering. Your talent is what separates you from the rest.
To build a strong business with a solid foundation it’s always best to surround yourself with the strongest people who will keep you propelling forward. Focus energy on your talent and what you bring to the table. In doing so your time is not being absorbed by things someone else can and should be handling, and maybe doing even better. You are the best resource for and behind what you are selling so focus on pushing that aspect forward. Your ideas for starting the business are the most important part and where much of your energy should be focused – don’t ever lose sight of that. Keep a running list of your goals, both long and short term in a visible place and make sure to do your best to accomplish them.
As we all know, funds for newer businesses are often limited, so allocate wisely by asking yourself:
1) How do I need to operate internally, what’s the structure/support system needed to ensure my business runs as efficiently and effectively as possible?
2) What additional hires are going to help bring my business to the next level?
3) What are the priorities/next steps?
4) Who should I be surrounding myself with?
5) What are the actionable results I want to be seeing?
The best answer to these questions and most general response is to bring on the right kind of assistance. Whether that is a business partner, full time/part time employee, consultants, volunteers, or interns. Try and find folks who can help fill in any gaps in your knowledge, compliment you and give you time to focus on the heart of your business and chief responsibilities.
When growing your business, one of your goals should be to the hire the most talented folks possible. Strong staff breeds strong business. It’s OK to bring on someone who’s smarter than you – we all have something to learn. “A” quality leadership who are confident tends to hire “A” quality support staff. As companies grow, “B” quality employers tend to not want to hire “A” types and are more inclined hire the “B’s” who produce “B” quality work and in turn hire “C” quality people so they are not outsmarted. The next thing you know the majority of your staff is filled with average “C” workers, and so on… be smart enough to hire the right type of folks who are confident in their leadership skills and knowledge of what you’re looking for.
When bringing on staff these are some of the most important avenues for the growth of a business. Fill your business with “A” staff; hire the right type of people- with leadership, dedication, knowledge, and the motivation to take your business to the next level.