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    • Jenjen

      Business Owner

      @jenjen

      My business is growing but I cannot afford staff to share the workload.

      Question submitted 15/07/21 @ 07:51pm

      Kia ora team. Four years ago I set up an online business. (IT) It pays for itself, however, I am yet to draw a wage, pouring all profit into new initiatives and growth. My problem is I cannot afford to employ someone to create content for me, so I have to do this myself and the workload is enormous. My website has become a rampant beast that is screaming for food (new content) but I just don't have the time to create as well as all the admin and client care required. What do you do when your business is growing rapidly and you can't keep up? Competition in my chosen sector is about to gobble me up and I don't want to lose four years of hard work and investment. Help!

      Category: Business Growth
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      • JTyson

        Industry Expert

        @jtyson

        Reply submitted 15/07/21 @ 07:51pm

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        Kia ora Jenjen,

        I have some advice around a few things

        1. I think seeing a business coach specifically skilled in growth strategy including profitability would be a good investment, in my experience it is normal not to pay yourself in a small business for maybe up to year, but paying yourself is a vital part of running a business, doesn’t matter how much but if you don’t make money doing what you do then that would be the first step.

        2. Affording to pay people to help you with content, I am a content writer, and there is more than one way to get someone’s expertise on board, you can do any of these options with the right people

        * Contra, share skills hours or work traded for work – Neither make actual money but if it is for a short period of time to get you over the growth hump it can work, I wouldn’t run like this for long, it would be an ‘until’ you can afford to pay someone
        * Consider contractor (young and emerging) on an hourly and by project rate, get the estimate up front. Break the work down into project sizes and ask for some rates
        (How long to re write my home page for example)
        * Align or partner with other businesses who serve your customers but can add value with complimentary services, Collaborate, make sure you share values, mission, vision but just have complimentary services, then agree to share data bases in exchange for work each way

        Those are a few ideas, this growth phase is usually a chicken and egg situation for most, you have to take some risk in order to get over that hump in earning.

        Sometimes it is also good, if you haven’t already, to look at bigger longer term maintenance type projects, I don’t know what you do because you haven’t explained that but to have some good solid cashflow work as part of your week can really help with decisions to pay people to do work

        I would advise investing back into this growth phase instead of innovation if you have already done alot of that, because it is no good unless people know you are there and what problems you can solve.

        I hope that helps a little

        Jen

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        • Jenjen

          Business Owner

          @jenjen

          Reply submitted 15/07/21 @ 07:51pm

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          Thanks so much for your insight. You have pointed out a few things I have overlooked and I’m so grateful for your help.

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      • Catherine van der Meulen

        Industry Expert

        @catherine-van-der-meulen

        Reply submitted 15/07/21 @ 07:51pm

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        Hi Jen,
        I definitely know that feeling of overwhelm when you are trying to do everything yourself to continue to grow your business.
        I have been working with a team overseas of amazing women that I outsource all the things that take up too much time for me and I don’t have the skills for (or have the time to learn new ones) so that I can focus on the things that I am good at.
        I began by writing a diary in an excel spreadsheet of all the things I do in a week (like a food diary if you have ever had to do one of those). Then I put an hourly value on my time and anything that I could outsource that was below that figure, that would be pushed over into column 2 and then I could start bundling it into things like Admin, Accounts, Marketing, Social Media etc and then get the outsourced team to support me with those needs.
        It has freed me up with time to focus on the things that can support me to grow my business.
        Hope this helps
        Cath

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        • Jenjen

          Business Owner

          @jenjen

          Reply submitted 15/07/21 @ 07:51pm

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          Hi Cath. Thanks so much. My self assessment has been erratic to say the least (too busy) and I really should put more time into it. I’ll have a go the spreadsheet and see what outsourcing can be done. Much appreciate your suggestion, thank you.

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