Running a small business isn’t as easy as most have been made to believe.
The business owner is sometimes the CEO, Operations Manager, and sometimes even the messenger!
There really is no end to the job duties of the entrepreneur.
Considering the need for small businesses to deliver on their business promises to customers, it is of utmost importance that the business owner is on top of his/her game.
The entrepreneur is expected to smartly ‘work his/her socks off’ without sacrificing quality product/service delivery.
However, this doesn’t always seem to be the case as there are times when he/she needs to rest from the labours that seem to be never-ending.
Do you as a business owner then abandon your business because you need to take a deserved time off?
Due to the unique setup of SMEs (Small and Medium-Scale Enterprises), cost-effective ideas and steps need to be taken and implemented in order for them to remain solvent while not sacrificing quality.
Here are our biggest suggestions on how SMEs can cut costs without losing quality:
Employ an assistant
This may seem like the business is incurring more expense but in the long run, you are actually saving more.
You can delegate some tasks to your new assistant, work together to market your business, and you have someone to take the load off you when you need to get that deserved rest.
This is perhaps the most important advice you can get.
Most businesses are plagued with building a team from the ground up.
This could be capital-intensive and time-consuming.
Instead of following the build-from-the-ground-up approach; why don’t you outsource?
There are various platforms where business owners can meet with freelancers in virtually every area of business.
READ ALSO: Optimizing Your Costs [Business Lesson]
All you need to do is find one that meets your need, compile a list of “go-to” freelancers, and work with that core.
Advertise for an Intern
This is quite different from employing an assistant who you’ll end up paying.
For the intern, you’ll exchange your knowledge for his/her time.
That way, you can develop an entrepreneur just like you while you get free or almost free work processes in return from the intern.
In closing, small businesses need to survive the first one year of being founded and it is important that they begin their business journey on the front foot.