Your company needs many things to succeed. It needs great products backed by outstanding customer service at a fair price, well-run operations with standard operating procedures and a decision-making system to reduce the time it takes to move new ideas from concept to reality. However, and with all of these components, your company can still fail if you don’t have experts within its ranks.
DIY Can Only Take You So Far
Maybe you did some research and feel comfortable that you know all of the tax saving tips and tricks, but do-it-yourself does has its limits. The truth is that the internet has created a surplus of information. Bright-shinny fruit are plentiful, with thousands of how-to-videos, blogs and online courses being published monthly. It can be very difficult to keep up and also determine who’s truly knowledgable. Unless you have the skills from a previous job or from education, you’ll want to be extremely careful.
As the visionary, there are two areas that you should concentrate on doing extremely well. The first is telling your brand story and the direction your company is headed, because you believe it more deeply in your soul than anyone else. How you articulate your company’s vision and story sets the tone for how others will when they communicate about it. The second is the part of the business that you excel at doing. It is important to understand the elements of all business areas, but seeking to master them will pull you away from what you do well, will not help you scale and will simply keep you business in low-growth mode.
Where Do You Need Experts?
As your business grows, make room for the experts you will need. Especially in the beginning, you may be able to hire freelancers to do most chores at your company. However, you will need to maintain access with a cadre of experts. For example, you need a tax expert because of the many new tax laws that are implemented yearly on national, state, and local levels that can affect your business. Whether or not you are selling products or services, you will need a great attorney to help you structure the various agreements to do business with customers, partner with other companies, mitigate risks and avoid litigation. Your attorney can also help you to structure your business so that it can be sustained in your absence. You’ll need to keep a human resources expert on hand to help you think through your organizational and staffing structure. There are many ways to add talent to your organization, from contract to full-time staff. Your growth plans and budget will determine which steps to take, and your HR expert can help you with that, in addition to creating a healthy culture. You will need a great accountant to help you with your financial statements and process invoicing as you increase sales or complete work. Sadly, many businesses lose money because they simply fail to invoice! Last, but certainly not least, you need a great digital marketing expert, as technology will continue to disrupt industries. A great digital marketing, especially in the areas of e-commerce, expert can help you stay ahead of the curve, as stuffing pages full of the right keywords has never been enough. There are a number of things digital marketing experts need to master and know.
Experts Within Your Business
These are the people who represent your business in front of your customers every day. They need training in customer service, how your products work, and many other business areas. You also need to make sure that continue mastering every aspect of your products by listening to your customers and staying connected to your peers in the field.
As a business owner, it can be very tempting to try to do many things yourself. That’s not a smart move, however, and it may cost your company plenty of money. Instead, create an infrastructure, keep your advisors on hand, follow their expert advice as much as possible, and hire and train experts to help you strategize and implement along the way.
If you are wanting to go a more DIY route, make sure you check out Seen and Sustained, a workbook I wrote in collaboration with three women business owners.