As a new business owner, you are probably used to doing everything yourself. You like the control that you had over each aspect of your business, but maybe you’ve reached the point where you are feeling overwhelmed as your business grows and the tasks keep piling up. While it can be scary (financially and otherwise) to consider bringing on help, hiring employees or independent contractors can really help your business in the long run and promote growth.
Being a business owner can be overwhelming on a good day. But if any of these six signs seem familiar, it might mean that you can no longer run your business by yourself and should consider bringing on other people to help you run a successful business.
1. You Don’t Have the Time
The first and most obvious sign that you can’t run your business by yourself anymore is that you don’t have enough time to do everything that you need to do. Everyone has 24 hours in a day, but you feel like you need 50 hours in order to get everything done on your day’s to-do list! You might be working long hours just to get the little administrative things done in addition to the primary parts of running your business.
2. You’re Losing Money
Many business owners are worried that bringing in help will cause them to lose money, but this isn’t always the case. Your business might be losing money in ways that a new hire could solve.
You might be losing clients because you can’t dedicate the time needed to meet all their needs or the quality of your work is decreasing because you are so strapped. Losing clients means losing their money, and this isn’t a good thing for a small business. You also might be losing money in a less obvious way — instead of spending your time working on high value tasks like sales and marketing, you are spending way too much time on administrative tasks like bookkeeping and filing. By hiring someone to take care of these tasks, you can spend your time where it counts and make your money back.
3. You Don’t Have the Skills
While being a business owner means being a jack of all trades, it is impossible to be gifted at every aspect of running a business. Everyone has weaknesses, and you can’t know everything. In this case, it would be a good idea to hire people who have the skills that you are lacking in order to promote growth for your business. This is especially true in technical fields, where it’s a better idea to get it done right rather than try to do it yourself incorrectly.
Also: 3 Signs You’re Ready to Sell Your Business
4. Your Passion Is Disappearing
You likely started your business because you have a passion for it, but that passion can start to dwindle if you are overworked or frustrated. Passion is important for a business, and you need to be able to put your all into it every day in order to be successful. If you feel like your heart isn’t really in it anymore, then that is a definite sign that you need to bring in other people to help you out. That way, you can share your passion with others and grow your business and achieve your personal and professional dreams at the same time.
5. You Don’t Have a Personal Life
Another sign that you can’t run your business by yourself anymore is that you don’t have a life outside of work. You may have quit your previous full-time corporate job in order to have more freedom and control over your life, but now you have less time than ever. While it is common knowledge that new business owners have to work hard in order to achieve success, you still need to be able to enjoy your life outside of work to have a balanced life. Your friends might feel like you are constantly MIA and neglecting them, and your family probably misses you at home eating dinner with them every night.
At the end of the day, nothing matters more than your personal relationships and you need to prioritize them no matter how busy you are. Bringing in someone to pick up your slack at work can save you those extra hours of work every night doing the little tasks that you put off throughout the day. Your friends and family will thank you for making this change.
Read: The Mistakes to Avoid in Your First Year of Business
6. You Aren’t Feeling Your Best
Your physical health is one thing that you should never sacrifice for anything — it is invaluable and is something that you can’t buy back later. Long hours and lack of sleep can lead to you feeling mentally and physically drained. When you feel drained, you are more likely to get sick since your immune system is down. You might not have the time to cook at home and are constantly eating unhealthy meals at fast food restaurants. You don’t have the time to commit to going to the gym or getting outside for physical exercise. These are all negative effects of being burnt out from working too hard and is a sign that you should bring someone in to help you run your business.
The Bottom Line
If any of these signs feel familiar, then you should consider hiring some help, either through independent contractors or maybe even full-time employees. Once your business has hit growth mode, doing everything all by yourself may no longer be sustainable. Though hiring may seem like another expense, if you hire the right person, they could help you grow your business revenue far beyond what you could achieve by yourself.
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