Business

Achieving Small Business Success

Written by Michelle Mills

As a small or home-based business owner, you are already well aware of the rewards that self-employment can provide, such as the flexible working hours, being located in close proximity to your family, the ability to grow your business on your own terms, and the opportunity to improve your work/life balance.

On the flip side, however, small and home-based businesses face unique challenges that larger companies do not. A survey conducted by Serviced Offices International in late 2009 identified the most common issues faced by small and home-business owners included:

• A sense of isolation.
• A perceived lack of support or access to support.
• A belief they must to do everything themselves.
• A sense of feeling overwhelmed by having so much to do, and often in areas where expertise lacks.
• A feeling of inferiority to the large companies, often resulting in overcompensation.
• A lack of the funds required to grow the business.

The great news is, there are simple solutions for all of the above issues.

So, what is the solution?

While image isn’t everything, it is extremely important; and particularly when it comes to small business. Creating a professional image and a perception that your business is larger than it actually is, can go a long way towards improving the success of your business.

Let’s face it. Chances are, you started your business because you were good at something specific and highly passionate about it. However, when you start trying to be the bookkeeper, financial manager, money merchant, administration person, operations coordinator and receptionist, all you are actually doing is moving away from your passion and expertise.

The result? Your energy and time becomes drained by these other areas and you stop enjoying your business, which in turn, ceases its potential for growth.

The solution is to know what you are good at and then to seek assistance by outsourcing the other areas. Such areas typically include:

• Management of your telephone calls.
• Picking up and sorting your mail.
• Diary and appointment management.
• Managing routine emails.
• Marketing activities.
• Administration duties.
• Bookkeeping and invoicing.
• Having the use of professional meeting facilities to meet with clients when you need to.

The easiest and most cost-effective way to enhancing your business image and improving your professional image is to outsource these areas of your business that are time-consuming and which don’t actually demand your expertise. And the best part? If you choose the right company to take on your activities, they can be turned on and off whenever you need to.

Understandably, for many small or home-based business owners, the term ‘outsourcing’ can conjure up images of expensive or inefficient outlays; but the truth is, outsourcing can be an investment that saves you significant money, time, resources and energy – all of which, when redirected more efficiently into your business, will result in improved performance and enhanced profits.

The (other) bottom line!

As a small or home-based business owner always keep the following in mind, and business success will be yours:

• Just because there are lots of things that need to be done, it doesn’t mean you have to do them all.
• Know that you are not alone – ask for help when you need it.
• There are solutions available to help streamline your workload and allow you to focus on what you do best – so use them!

Serviced Offices International provides all these solutions and more, including professional telephone support, a CBD office presence, access to different types of meeting rooms, access to administration staff who can complete any administration task no matter how small (and you only pay for the time it take them to complete the task), email directing, mail collection, sorting and redirecting, and much more. To find out more about how outsourcing can benefit your business and bottom line, visit www.serviced.com.au or phone 02 9994 8000.