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Whether you’re pursuing a side business or working full-time at your own company, to be successful, consider the value of outside help. Here are some ways others can help you grow your small business.
Support groups and masterminds
Link up with other entrepreneurs with similar goals, even if you’re not in the same industry. You can bounce ideas off one another, troubleshoot areas of concern, and have support from others who want to see you succeed.
In the same vein, you can contribute your knowledge and experience to others and help them along their way.
Support groups and masterminds might be free or have a paid membership. If there is a fee, check with your tax professional to see if it is a deductible expense for you.
Enlist the help of a business consultant
No matter if you’re a new start-up or if you have years of experience as an entrepreneur, consider hiring the services of a business consultant to help you find your feet. Perhaps your day-to-day operations could run more smoothly, or you’re trying to figure out your next step. Maybe you need some help identifying achievable long-term goals and the steps it will take to get there.
A business consultant such as Trevor McClintock can help guide you along the ins-and-outs of successfully running your business. Having an experienced pair of eyes looking at all aspects of your business can help reveal where you can improve and supply you with an action plan to achieve your goals.
Outsource tasks where necessary
If you don’t have the time or skill to administer certain tasks (taxes, marketing, accounts payable/receivable), consider outsourcing. Hiring a CPA or Enrolled Agent can help you navigate the tax impact of various business decisions and identify new ways to reduce your tax burden. Rather than taking on these areas yourself and potentially making mistakes or taking away from your valuable time, you could focus your efforts on tasks that are actively building your business.
Maintaining a web presence is often a high priority for many businesses. If updating your site’s Facebook or Twitter pages or sending out email newsletters aren’t your strong suit, consider hiring these tasks out to a marketing company. You may already know someone in your network who runs their own marketing business — reach out to your mastermind to get leads.
Working for yourself can be a gamble, but it really pays off if you are successful. Enlisting the help of others can help guide you along your journey. Reach out to your support group or mastermind, outsource tasks, or meet with a business consultant (or a combination of all three!) to better meet your goals.
Even when you’re a sole proprietor, if you surround yourself with the right kind of support, you’ll have a wealth of resources available and will never be alone.