Written by Renzie Richardson, BHFL Group, www.bhflgroup.com
Starting a business may be different than what you thought.
This article will give you ways to make sure you start it right with yourself in mind.
Starting a business is a life-changing watershed moment in any individual’s life. After finally breaking free from the monotony of an office job, you are chasing your dreams. But watch how fast that bubble pops, and what was unrivaled optimism becomes severe dread. The tasks that drove you every morning now are the most significant burdens. It isn’t how you dreamt it, and you snap when a friend or family member asks, “how’s business?”
The health and prosperity of your business are essential, especially in the early stages, when it constantly needs to be supervised. At the same time, your health is also necessary. Eventually, all the stresses of being an entrepreneur and building a brand from the ground up take their toll. However, all hope is not lost! Once implemented, we have some changes that will restore your dream and help you and your business flourish.
Build a Trusted Circle
While the entire company is your brainchild, the sheer amount of tasks means that you will be hiring soon and fast. And that is the norm for all businesses, even mom-and-pop convenience stores. But soon you will realize that all these people and their departments need managing. You cannot be looking after sales and accounting and HR and logistics all at the same time. It will take a toll on you.
Instead, learn to trust. You can start by building a circle of people you charge from your firm or hire external people and bring them to the team. Either way, once you know that this group of people has your back, delegate tasks. Help them manage your day-to-day running. Take their feedback on how to run a specific department better. Or how to be more accessible to all your employees. Doing this will free you up from daily stresses and allow you to plan for the future. Also, take input from your circle, as their experience will help you have a more grounded and achievable plan, even if not as impressive.
Learn to Take Personal Days
Once your trusted circle is well-settled into their roles, you will have considerable time to fill up. And yes, planning for the future is no less demanding, but it has no immediate ramifications. You can take a day off and stay away from the office. Instead, take in walk in the local park. Have an afternoon siesta. You never know when inspiration may strike you.
With time, it may also be a good idea to deepen ties with your existing circle and add new members. Keep aside a portion of your budget for recreational activities. Giving your employees an extended weekend break where everyone takes a collective trip to a place cut off from the world will help build camaraderie and trust within everyone present.
Not Losing Touch with Daily Activities
Overdoing anything is harmful. Indulging oneself entirely in a proactive role can often lead to loneliness and being out of touch with the ground reality. You may be aiming for a $300 million Series B investment even though your company is currently only worth $1.2 million. Can the business utilize such a considerable investment effectively? Would such rapid expansion be possible without diseconomies of scale set in? The strength of your communication, coordination and control would be lost throughout the company. You do not want to be labeled Icarus within the entrepreneurial community.
Hence, it’s better to maintain a symbiotic balance between visionary and micromanager. Keep persevering and witness how your dream becomes a reality!