Going It Alone
There’s a strange double standard in the world of business. We accept, and expect, that every professional requires some sort of training and specialization. Somehow, we tend to leave entrepreneurs out of that equation. The common misconception is that people just get a good idea, then go into their basement or garage and create a product that makes them rich.
The truth is, like every other profession, there is a learning curve to becoming a successful entrepreneur. In fact, the knowledge required to successfully start a business covers a wider range than what’s needed for most jobs. There’s marketing, distribution, management, advertising, accounting, state, local and federal law and much, much more. Still, a surprising number of budding entrepreneurs try to “do it all” without guidance or help.
According to a post on Marketwire, a recent study shows that small business owners rated their time as their most valuable asset.
“Approximately two in five (38 percent) of small business owners say that their time is the most valuable asset for their business. Their computer was the second most valuable asset (36 percent).”
Your time is incredibly valuable, so why would you waste it trying to become an expert in every single aspect of starting and running a business? Would you willingly put an inexperienced person in charge of your finances, your legal decisions or your marketing? That’s exactly what you do when you try to do everything yourself.
You need a team of professionals who provide services and guidance for all aspects of business ownership. A mentor, coach or consultant can help you assemble that team. Skilled advisers expand your business network by using the leverage of their own network. Most importantly, they will advise and guide you through the roller coaster ride of a business start-up. Their real-world experience and knowledge is vital as you move your business plans forward.
Successful small business owners will freely admit that they had a lot of help along the way. If you’re building a small business, you should also be building your support team. Going it alone often leads to going nowhere.