4: The Small Business Dilemma
The Objective: Achieving a balance between focus and work
As one grows a business, so the possibility of work overload increases. To start let’s look at two important keys to getting your business growing. Focus and workload. No matter the sector or niche that you select to follow you will need to grow a new business to make money online.
The bigger the organisation, the more the focus of leadership should be on its people, and the focus of the organisation should be on its core competency. Can one create focus? Absolutely. The most common levers to achieving focus are Strategy, Structure and Leadership. To illustrate, it is no accident that Nike focuses on shoe design. They own no shoe factories. Large organisations embody many cause and effect loops, but the key to high performance lies with leadership. As the organisation gets smaller, it gets more complex. With growth, it is often tempting to try and do too much, for leadership must do everything!
Most importantly, leadership must find a balance with also being the workforce and in so doing it will find focus. Yes, hard work is universal to success, but you must also enjoy what you do so that you achieve the status of being what has been called a “worker-frolic” rather than being a workaholic. Balancing Focus and Work so as to have a manageable workload is critical to sustainable work performance.
Work intensity (going that extra mile) and work pressure (demand vs. capacity) are key indicators of the balance that exists between Focus and Work. How does a small business work less, yet do everything and meet a growing demand? Often, the answer to work overload is a focus. Focus on your core competency and outsource the rest; do what you do best. Should you too not be working on design instead of loading boxes for delivery in your factory during your lunch break?
As an alternative to growing the size of your permanent staffing, when faced with a growing business, consider process mapping your business and finding what you can get someone else to do. Do you need to run your payroll and or accounts, online store, website analytics, factory, marketing, etc.? In the corporate world, the objective is to climb the ladder. In a work from home business, you are likely to be the ladder!
Given that, you are likely to have to do many things the trick is not to do too much. Your focus needs to include constantly evaluating what you can get someone else to do. It’s about leverage. In tandem with this, you need to have a clear high-level business plan. To start, I suggest that you adopt one of two broad approaches to business; sell products (product marketing) or sell information (information marketing).
An existing business is well positioned to research the profitability of taking their existing product line to the Internet in the form of an e-commerce store or as an online product showcase. They will sell products marketed online, or they will sell products online and offline at their shop in a local mall, etc. A new business venture will research opportunity to sell product on behalf of others (on an affiliate, partnership or agency basis) or to stock product and trade for themselves. The business plan will be about product marketing, and your focus should be on building a successful line of profitable products.
The next opportunity is to market and sell knowledge and information. Why are you at home? Perhaps you have retired? Perhaps you want to be at home to nurture your children? Perhaps you cannot find a job? There are many reasons, and equally, there are many opportunities to be rewarded for your available time. Firstly, you could use your knowledge and experience to write articles. You could write an e-Book. You could host a webinar (web-based lecture/conference or discussion forum) on your topic of interest. Given education, experience, the skill of capability many people at home have the knowledge to write a relevant and informative article, website or book that will be of interest to others. Many feel that they do not have sufficient grammar skills to write. Ho Hum – how many bibliographies do you think are self-written. Use your skill, experience and knowledge to jot down facts in bullet form and outsource the writing of the book or website. Books can be sold, websites and articles can attract traffic to generate revenue from affiliate programs. This business plan will be about information marketing, and your focus should be on building a successful line of profitable electronic products.
The www.Webo.directory site builder is unique as a directory as it combines a huge number of the elements for success. It seamlessly supports an e-commerce site with a managed payment gateway that is ideal for product and information marketing. Online sales administration is fully controlled. Information is sold in the form of media files and given the use of a live payment option (credit card, Paypal or prepaid voucher) media file downloads are seamlessly delivered while you sleep. Where delayed payment options such as EFT and direct deposit at a bank are used the paperwork is managed and upon your payment clearance download links are sent to the purchaser who is accorded their account where payment status, delivery status and transaction history is maintained. With a variety of content management systems such as blogs, brochure flip books, outbound link lists, on-site music, downloads, image galleries and image presentation by auto created slide shows, alternators and or rotators you will find that the www.webo.directory site builder is one of a kind.
How can you benefit from the work of 100 other people? To start, you can leverage with the assistance of affiliates. You can add relevant, complimentary products on an agency basis and you can use the concepts of network marketing to find you, customers, whilst you focus on content and your products.
I hope that I have nudged you to reflect upon your plan to go online. If so, please share the link to this topic with your friends on Facebook and with your Business Connections on LinkedIn. To do this log into your preferred social media account and then click the share option at the top of this page.