3 aspect startup entrepreneurs have to look out forSep 29, 2022
Most startup entrepreneurs are so amazing at something specific, that one thing they call,
‘their thing’ and they do it so well, they can succeed blindfolded. But there is nothing more
frustrating than realising that there are many other aspects in running a business that they
know nothing about! Nada! The questions begin to arise: Should I hire some help? What
kind of help? Permanent, freelance, part time? What if it doesn’t work out?
If we get staff we also need contracts and job descriptions, and managing people becomes
another skill they might not have a whole lot of experience with.
This is what happens to most of us, in fact, all of us. We are all fired up in embarking on this
entrepreneurial journey, to make our dreams realise with this new found wisdom, product or
service, and since our friends support us, we can make a few calls to land our first and
maybe second client, and voila, a new business is born.
In the meantime, all the other aspects of business (that we are not greatly experienced in)
are lurking around the corner, and before we know it, we found ourselves out in the open
seas in the middle of a storm, with no lifeboat on board.
HR, Finance, Marketing, strategic management and Social responsibility was never part of
your initial calling and the last thing you thought about was to partner with someone to take
charge of those divisions.
Making quality decisions is one of the major skills one needs to make sure your business
grows, and does not stagnate, or even worse, close. What is it that causes 60% of
businesses to not survive past 5 years? What gives a business longevity and success? The
temptation for entrepreneurs to work IN the business when in fact they should rather be
delegating functions to make more time for them to work ON their business and nurture their
equilibrium. All new entrepreneurs know the main components of a business but what
configuration makes for a resilient enterprise?
I am Helene Sewell, and at the Business Navigation centre , I will help you with the quality of
your data, the foresight and experience you need to make quality decisions and support you
to keep the longevity and success in your business.