Owning a business is thrilling, exciting, intimidating, and at times lonely, while building a business can be stressful, exhausting, and hopeful. Eventually, most businesses grow larger than a one-person operation. There are not enough hours in the day to complete all the tasks that need to be done. Some owners elect to work “in” their businesses. This can mean working as many hours as necessary to complete all the tasks that need to be done, from supplying the customer, paying invoices, keeping the books, and processing the payroll.
Some businesses never grow beyond this stage. There might be a business name on the door, but if you are the one making all the decisions and doing most of the work, then you own your own job. There isn’t enough time delegated to increasing your revenues or building your business. There is a limit to how many days and hours you can work. Therefore, there’s a limit to how much you can earn.
Managing the inner workings of your business operations, is critical so it runs as efficiently as possible. Whether you make products, sell products, or provide services, every small business owner must oversee the design and management of behind-the-scenes work. Operational tasks include bookkeeping, administrative tasks, and daily function procedures. Operations are those activities that don't aim to produce anything new, but to maintain and sustain a business.
One of the fastest ways to increase revenues is to outsource operation functions. This will free up time so you can grow and improve your business. It will allow you to focus on what it will take to increase the customer base, sell more products, and reach more people. Outsourcing operation functions will create processes and resources that you can use to produce the highest quality products or services as efficiently as possible.
Once a business is operating as professionally as possible, there is opportunity for growth and expansion. There is time to create a better product, add another service, improve a website, analyze market data, increase market share, and the list goes on. Said another way, you can be productive on a higher level. Congratulations, you’ve just given yourself a promotion.
