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Category - Start ups

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1
7 Things You Need To Know About Starting A Business
2
How To Build A Business Empire By Finding The Right People!
3
How Systems And Procedures Can Build You A Better Life
4
Your Unconventional Guide to Hiring Staff for Your Small Business Startup
5
The 4 Stages of a Growth-Minded Small Business

7 Things You Need To Know About Starting A Business

If you are thinking of, or about to start a new business, you must be excited!

I know I was when I left the international consulting firm I was working for in 1991 to start my own financial and management consulting company. I was excited and a little terrified!

But at least, I had an advantage over most subject-matter experts who decide to leave employment and start their own business – I was a qualified and experienced Chartered Accountant who knew about starting and building businesses, about tax and registrations and the law and agreements. For some years before I had led a team of 20 people in worldwide consulting assignments. While a little fearful about how I would be my own boss without an internationally established set of systems around me, at least I did not experience the overwhelm of many people where they don’t even know where to start!

That is the most common experience of my clients over the years who have started their own businesses. Whether they were highly qualified doctors or engineers, or very experienced plumbers and electricians, they all expressed to me the sense of overwhelm about what they had to know, almost overnight! They were aware that despite their strong subject-matter knowledge that they lacked knowledge about running a business, they were concerned about if they had enough finance, and they were wondering how to bring those first sales in through the door. They were overwhelmed.

At least they had me to guide them through the steps they needed to take, but what about you?

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How To Build A Business Empire By Finding The Right People!

OK, I know you started your small business to make your dream come true.

You had a vision of “the best” business in what it is that you do, you saw your future and saw that your successful business would be something you would be proud of, where you enjoyed working, and that brought you the rewards you and your family deserve, especially to have more time together to enjoy the fruits of your hard work.

Yeah, right?

But be honest, somewhere in that dream you also saw your successful small business grow into an empire right? You saw yourself, at the height of the success of your business, killing it with new and innovative products and services, with happy, productive people working in all corners of the business empire satisfying customers across the nation, if not the globe. Right?

But if you’ve been building your business over the last 5 or 6 years, and you’ve been successful in building sales, you probably know that the building of the “empire” is going to be a bit tough! Because no matter how good your product or service is and how well-received it has been, getting the right people to help you in all the places and doing the right thing has not been easy. Without you, let’s be honest, standards would slip. Without you, the office wouldn’t even be cleaned properly, the telephone answered with a little less conviction. Without you, the customers would not experience the amazing sales and satisfaction journey that you provide.

So, how do you build that business empire where you have the right people employed in all the right places, and they are all doing the right things over and over again?

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How Systems And Procedures Can Build You A Better Life

“How Systems And Procedures Can Build You A Better Life” – that’s a heck of a promise, isn’t it?

Well, I think it’s true!

Life could be great for you right now, and you’re pumping it! But I know this – if you own and run a small business, especially if you started it within the last few years and you’re starting to get busy, you’re working pretty hard in your life right now, and dare I say, your work-life balance is probably out of whack.

I know what it’s like, I’ve been there, I’ve seen so many clients go through the same thing as well.

You start your business with a passion, you’re doing everything from opening the doors every morning to the marketing, to fronting the front-counter, to producing your service or product, to keeping the books – right up to sweeping up and locking the doors at night.

It’s pretty exhilarating at first – this is what you dreamt of, owning your own business and carving out your own pathway to business success!

But as business ramps up, it becomes a little consuming. It’s hard to maintain the energy levels and feel like you are focusing on what really drives the business because you are involved in doing everything. Even if you hire staff, it doesn’t seem to quite work out. You have to train them in what you used to do, and they don’t quite get it right, so you get re-involved. Or they leave and so you have to find and train someone else. Sometimes wires get crossed and tasks fall between the cracks because someone thought you were doing it when you thought they were. Pretty soon customers start to comment that the quality of what you deliver isn’t quite the same anymore, or worse, that it’s patchy and sometimes it’s good and sometimes it’s not.

So you work even harder to get it right, mainly by doing it yourself and pretty soon you’re working hard every day on all the details and the direction of the business starts to stagnate, your work-life balance, that dream to earn enough to spend time with the family seems to be a long way away.

Your life might be rocking, but it’s not well balanced! Ask your spouse!

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Your Unconventional Guide to Hiring Staff for Your Small Business Startup

Unless you are starting a micro-work-from-home business, you are likely to be hiring staff when you start your small business.

It is tempting to follow the conventional route and figure out what skills you need to have in your business to support you, and then advertise for those skills, and hopefully find someone who can do the work. Then, as your business grows, you do it again.

However, as a first-time employer, and in a new business, this can have some risks attached.

Firstly, if you hire someone now, will they still be required in a few years’ time once the business has grown? Or will the skills required have grown as well? Then, how confident are you that the skills the candidate shows suits the purpose, especially as the position is new and you have nothing to compare it against? Perhaps they show the right qualifications and experience on their resume, but how do you judge character, will they “fit” in with your style? Will the candidate show responsibility in the tasks you want them to be responsible for?

Many startup small business owners take the plunge, gradually learn from experience, and get better at it. But that is a long and painful journey on the road to finding the right people.

I have an unconventional way to look at hiring staff for your small business startup.

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The 4 Stages of a Growth-Minded Small Business

Here at Teik Oh Dot Com, I aim to be a one-stop-shop for growth-minded small business owners, where they can go to get inspiring and practical ideas to improve their business and become successful.

While I offer different tools and give advice for small business owners at different levels of development, I thought it might be useful to describe the way a small business can develop, and what their owners need to think about at each stage.

Knowing which level of development you are in is important because you can then focus on the different aspects of your business that need special attention at each different stage. A growing small business will usually go through 4 stages of development.

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