It takes a very particular kind of person to become an entrepreneur. You need to be passionate, articulate and charismatic in order to persuade would be investors and customers alike why your business is worth their time and money. You need to be persistent and thick skinned to push on with your business plan even when the deck is stacked against you.
You need to be single minded and determined, self-motivated and disciplined and above all utterly confident in your ability to steer your SME towards sustainable success and prosperity. You’re a human dynamo, a skilled, resourceful and capable leader who has the respect and admiration of your team. But the very traits that make you a great entrepreneur can also be your greatest weakness.
Your resourcefulness and self reliance can lead you to believe that you and your team can face everything that the world throws at your business alone. This can seem manageable and cost effective, especially when you have a dedicated, passionate and multi talented team but just because you can do something “in house” doesn’t necessarily mean you should.
The “that’s not my job” factor
Maintaining a good relationship with your team, especially a small team that works very closely together is an integral part of a productive and happy workplace. However dedicated and skilled your team may be, a wise entrepreneur should be wary in asking them to carry out a range of activities outside of their job description. Getting a graphic designer to clean the windows may seem like a money saving measure but in the long term it’s far more cost effective to hire a local contract cleaning company. Keeping the graphic designer at her desk will help to improve her job satisfaction and increase her likelihood of staying with the business.
The competence factor
When we’re engaged in activities in which we’re skilled, we become unconsciously competent. We’re able to carry out tasks effectively and efficiently and as we grow in experience we become more confident and autonomous. As such, when we’re doing something we love, are good at and experienced in we experience a much greater sense of accomplishment and job satisfaction. Thus, when required to carry out new tasks we may not be able to carry them out competently or with any sense of accomplishment or pride.
The compliance factor
There are some areas in which handling a matter in house not only faces issues of competence but with legal compliance. Human Resources, for example is an extremely complex and potentially litigious field to which all employers have a binding obligation. Thus, outsourcing your human resources or employing a dedicated HR professional is the only way to ensure that your business is legally compliant (unless you have the time free to learn the various HR laws pertaining to your enterprise).
The productivity factor
All of the above factors can come together to influence the productivity of your business. When employees are motivated, have job satisfaction and are engaged in the kinds of activities in which they are skilled it makes for an infinitely more productive workplace.