Thursday, October 22, 2015

How can a small business owner sleep better?

There are many things that keep a small business owner awake at night: their family, their bank account, their employees and their business.  How can they rest easier?

Finding business/life balance is tricky.  It really can't be avoided when a business is in the start-up phase but realizing there is an end to the imbalance can help.  Once the business is stable and cash flowing on its own, hiring employees and outsourcing tasks can ease the owner's burdens and free up time for family.

Getting the business to the point that the bank account is no longer a worry requires a solid business plan, regular reading of the financials and making changes as needed and keeping clients or customers happy so they keep coming back and bringing their friends with them.

Keeping employees off your mind requires hiring the right people, training them properly and rewarding them appropriately.  Sites like zapposinsights or the Disney Institute can give a small business owner ideas on how to develop an employee training strategy and a business culture which will eliminate some of the worries of being an employer.  Having the right people helping with payroll processing, payroll tax filings and human resource issues is also good for reducing employee related worries.

Most small business owners treat their business like a family member so they will always worry about it.  Doing some regular risk management planning and surrounding themselves with trusted advisors like an accountant, banker, insurance agent and lawyer can help reduce their concerns.

Knowing that you have people who have your back can help anyone sleep better!

2 comments:

  1. I am a small business owner, I have a few employees in staff. Technical and an indefinite basis I give outsourcing https://jitbit.com/. They help me sleep and not think about the technical problems. This has a positive impact on my business. This is my way to success.

    ReplyDelete
  2. Money related arranging: The numerical aftereffects of key and operational arranging are appeared in spending plansvisit our site

    ReplyDelete