5. Leverage.
Transforming your business into an empire isn’t easy, but starting to is. Leverage is always the way to grow a business and make it more efficient.
The biggest mistake small business owners make is asking “what” their business needs instead of “who” their business needs in order to grow. The missing ingredient for real, sustainable growth is always a “who,” not a “what.”
Start by making a list of the tasks that you enjoy the most, are best at, and that impact your bottom line the greatest. You should be spending most, if not all, of your time on these tasks.
Next, make a list of everything else you do. These are tasks that are likely diluting your focus and stunting your business’s growth. They’re also the things that can easily become the job description for your next part-time hire.
Lastly, make a list of the things that aren’t being done that need to be done to make your business bigger and better. This is your “missing person’s report.” It’s the person or position that’s absent but needed in your business.
If you’re the cook, waitress and bottle washer, your lack of leverage is killing your business’s potential. Don’t be afraid to start small (part-time) and work your way into hiring a full-time position. Also, remember, a bad hire costs you money, a good hire saves you money, and a great hire makes you money! — Shaun Rawls, lifelong entrepreneur, founder, and CEO of Rawls Consulting