It makes total sense that entrepreneurs may feel like lone wolves at times. Much of your work and success has been entirely on you. You came up with the idea, you saw the need to seek funding, you have networked and socialized to make contacts, and now you see the road to success in front of you. However, as you may know, the journey of an entrepreneur is not without its bumps and winding roads.
There are setbacks, distractions, and unforeseen circumstances that require you to venture outside of yourself to seek help. While you may feel like everything is on your shoulders, it is always wise to understand that you are not in this alone. There are tons of resources and individuals that can be of help to you as you build your business. Read on for four times it is necessary to ask for help, and whom you can approach to get it.
You are Running Out of Bandwidth to Tackle Your Growing List of Tasks
This situation is an all too common problem when it comes to entrepreneurship. Unlike the typical worker, your tasks nor your calendar is ever fixed. Your schedule and your to-do list will vary. As your business grows, it is likely that your need will as well. More success means more phone calls, frequent meetings, the need for a more targeted marketing plan, and many other necessities that require your attention. Instead of crumbling under pressure, take a look at hiring a contractor or virtual assistant. Take stock of what task you have to be involved in, and those that can easily be delegated to someone else. You may not be able to afford someone full-time, but you may have the money for a part-time employee or freelancer.
You are Not Sure How to Grow Your Business Reach
So, you are starting to feel as if you are plateauing, and that business is beginning to dry up. Your marketing efforts are not sufficient, and it is becoming difficult to reach new audiences. You may feel anxious and stressed that your work is not producing any further success. Instead of keeping down the same path, it is important to realize that you may not have all the answers. Because you are right in the middle of things, it may be challenging for you to identify the heart of the problem.
Therefore, it makes sense to bring another person in that may be able to provide some objective suggestions. In times like these, having a business mentor is priceless. Many individuals who have been where you are would be more than happy to share some advice. To identify mentors, you can ask around your network, and make a point to attend any entrepreneur or business owner affinity groups. Most cities have a business league or alliance you can take advantage of to meet potential mentors.
You Need to Learn a New Skill
Savvy entrepreneurs are proficient in picking up new skills, and many may find that they can save money by doing something themselves. There are also times where learning something new is required. Whether you need to strengthen your public speaking skills or want to learn how to develop your WordPress site, there are many resources out there to pick up these skills quickly. If you live in a major city, General Assembly is excellent for rapidly picking up new skills. Universities may also offer technical skill training at a low cost, especially if you are alumni. You may also want to check a site like Meetup.com for help with soft skills like leadership development, networking, and public speaking. You don’t have to break the bank to learn something new while also meeting some like-minded individuals.
When Handling Your Finances Becomes Overwhelming
If there is one thing an entrepreneur cannot afford to fall behind on, it is handling their finances effectively. Keeping an accurate budget, preparing your taxes, financial forecasting, picking the right funds, and many other financial needs are essential to the health and longevity of your business. Unless you majored in accounting or have a knack for financial management, it is likely that you are going to need some extra help in managing your finances.
Therefore, make a point to seek out an affordable financial advisor, CPA, and banker for assistance with your budgeting and loan inquiries. Each can help you handle a component of your financial management plan. If your budget is unmanageable, then a financial advisor can give you some practices to think about for help. A CPA comes in handy during tax time and also with managing your accounts, and a banker can provide an overview of loans and lines of credit at your disposal.
While you may be a one-person show or are leading a small team, you do not have to go it alone when problems arise. The nature of running a business is having to put out fires and handle disasters as they come. The great thing about entrepreneurship in the United States is that there are many participants. You have many people to lean on when it comes to business ownership. So, don’t hesitate to reach out for advice, help, or some business training, you never know when this can lead to your next successful endeavor.