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How to Shift Away From a Solo Business

HomeBusinessHow to Shift Away From a Solo Business

Expansion beyond just yourself can be an intimidating step of the process. It’s time to relinquish some of the responsibility. Delegation can be hard to do properly. But it also is a moment when you can open up your company to a huge new range of possibilities for growth. Here are some of the first steps you can take. 

Get a New Office

You’ve got to walk before you can run. The first step will probably be getting whatever commercial accommodations you need. For some, that might be new commercial vehicles. For others, commercial property is the priority. Most businesses will want new office space. 

Make a thorough new business plan for your expansion before you start shopping around so that you’ll know how many employees you’ll need to accommodate. With a new office, you’ll have a workspace you can immediately start sending employees to when the hiring process begins.

Hire Employees

This is an obvious step–but it’s critical that you take the time and effort to do it right. If you don’t you might cripple your budding business. To prepare, you need to decide what you’re looking for in a candidate to fill the position. Know exactly what kinds of skills, abilities, experiences, and traits you’re looking for. 

The next step is listing the position in the appropriate places and leveraging your network to look for good candidates. Most employers will take applications or resumes and then have a face-to-face interview. If the position is high-level, you may want to consider multiple layers of interviews. Be thorough when vetting candidates so that you can filter out dishonest applicants.

Know Where to Expand

If you’ve made the decision to shift away from a solo business, that should be because there is an available niche in the market that your expansion will take advantage of. If you try to expand without being sure that there is a good financial reason to, your growth will be over before it even begins. In business, nothing is guaranteed–but an analysis of your demand as a solo business should be a major clue. If you’re getting more customers or clients than you know what to do with, that’s a good sign.

Expanding from a solo business into a more complete company can be difficult. But it also can be very rewarding–not just financially, but emotionally. As hard as it can be to delegate, you should take this opportunity to trust some other people and relax. 

Did you enjoy reading this article? Here’s more to read. Why Your Business Should Open Up a Line of Credit

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