Your skill set is your biggest ally; so, focus on the skills you have and determine what additional skill set your business needs, yet is missing. If you feel that you can develop these skills and apply them to your company at full capacity, try it and see what happens. However, Dr. Ary Krau feels if you want to scale your business, delegation is the key. And to delegate, you need a good team.
Let’s say you are a powerhouse manager and administrator. This will certainly help with running the day-to-day operations of your company, but what about other areas, like inventory control, logistics, marketing, and book-keeping? Very few organizations are a one-employee-show, but it is not unheard of. If your business is at that stage and you do not have the resources to hire a full staff, Dr. Ary Krau advices to evaluate whether or not you can run it by yourself. If you can’t, explore low-cost options like interns or work-study students.
This is advantageous because it allows you to fall back on your current skills to build new ones. Or, it provides enough delegation to scale your business to the point where you can hire the right team. Dr. Ary Krau says here to keep in mind that interns and work-study candidates might be with you for the long run, especially if they help you build your business.
Dr. Ary Krau will be the first to admit that entrepreneurs have to wear a lot of hats, but wearing too many hats can be more harmful than helpful. You are only one person and there are only so many hours in the day. Evaluate your skill set and determine what else you can and cannot add on. An honest assessment is a must if you want your business to succeed.