Small Business Owner’s Wear Many Hats

Small business owners need no reminder of the challenges they face. Because
most owners sport multiple roles— often serving as their own HR, legal,
accounting, business development, recruiter, and their own sales department—
challenges are everywhere. Here’s a look at three of the most common
challenges with proposed solutions.

– Legal Issues. Even in the most innocuous markets, legal problems
inevitably ensue that can distract time and energy away from running your
business. Therefore, it’s advantageous for small business owners to have
a legal contact and strategy for potential litigation. An initial consultation
and review of the contracts you use can help protect you from these legal
distractions.

– Growing the Team. Many small businesses start as one-person
operations, sometimes husband and wife duos. Such a private, intimate
working relationship—as rewarding as it may be—can present unique
challenging when it’s time to grow the team. Obviously you’ll need help
sharing the workload and pushing your product, but consider hiring
contractors over adding employees. This will lighten your load without
disrupting your team’s natural chemistry.

– Keeping Creativity Alive. You started your business, in part, to exercise
your creativity. Your entrepreneurial mindset couldn’t tolerate the tedium
of a typical office job. Yet once you became the boss and put in charge of
increasing profit margins and running the day-to-day operations of your
business, it became easy to lose this creativity in favor of balancing your
finances. Take time to reconnect with what got you into this business in
the first place. Whether it’s taking on a less critical, but creative project or
building better relationships with your clients, be sure you’re keeping the
passion that started your company as present as possible.

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