Managing the Small Business Juggling Act – Finding Balance Within all your Roles

The role of small business owner can rarely be individually defined. It’s more a question of which hat you wear on which day. CEO, payroll administrator, human resources, customer service, sales…the list is endless. Striking a balance between each of these important responsibilities is what ultimately makes a small business successful. Of course, you probably already realize that. It’s finding a way to actually make it happen that can be challenging, especially to those just starting out. Here are a few suggestions to help you learn to manage the juggling act.

1. Identify - The key to mastering all the different roles involved in running a small business is first identifying them. Take a few moments, sit down and write out a list of each responsibility. Then define each one and order the list by level of importance. Now you know exactly what you’re dealing with.
2. Set Goals – Once you’ve defined all the roles you are responsible for, set individual goals for each one. Knowing exactly what you have to accomplish in each area will help you keep track of all the balls you’ve got hovering in the air. It’ll also help you see the progress you’re making as you work toward each goal.
3. Create a Schedule – And more importantly, stick to it. With your list of duties and set of goals, create a detailed schedule for yourself that will help you make sure you’re covering all the bases you need to and nothing falls through the cracks. For example, set aside a specific time each week to balance the books or work on your payables. Being organized is the key to a successful small business balancing act.
4. Delegate – If your budget allows for it, you might want to consider bringing on additional help to cover some of the daily tasks, such as customer service or accounting, so that you can focus on more important business matters. And by the way, that doesn’t necessarily mean hiring full time employees. Think outside the box – there are plenty of simple, cost effective Linkoptions such as outsourcing, which gives you access to experts without the hassle that comes with putting them on the books as an employee.
5. Be Resourceful – For those who simply can’t afford to hire help, there are plenty of other ways to manage efficiency and stay on track. For instance, using business management software can help keep you focused and organized while a virtual phone system can give you more flexibility and help you be more mobile. Utilizing new and innovative solutions like this will help you better streamline your small business.
6. Stay the Course – When you’re involved in the day to day operations of your business it’s easy to get bogged down by the little things and lose sight of the big picture. If your business is to be a success it’s important to take a step back from time to time to establish, measure and modify your long-term strategic goals. Otherwise keeping up the juggling act will be futile.

Wearing a dozen hats can be overwhelming but it’s par for the course of managing a successful small business. By focusing on exactly what your roles are, setting defined goals and relying on the different options available to help you maintain your balancing act you’ll be able to keep your business on an even keel and heading in the right direction without burning yourself out in the process.

Labels: small business tips