Trimming the fat is a critical part of any business—especially the online aspect. You might be doing tasks, chores, and even full job descriptions that can be nixed. Just because something’s, “always be done,” or a mentor told you that you “need” XYZ in order to have a successful business doesn’t make it true. Consider what’s on your plate, how it’s serving you, and then decide if it should stay or go. Any excess fat is weighing you down and keeping you from focusing on better business growth tools.
As an entrepreneur, there are some things you genuinely “have to” do and then there are tasks that everyone thinks they have to do, (but don’t.) Learn to tell the difference. It’s going to vary based on your business, goals, and strategy, but there are a few big ticket items worth a closer look. Here are a few that should be on tap for assessment:
1. Your employees
It sounds harsh, but you might be able to go without some employees entirely—and others might need to be replaced. In some instances, you might want to switch from a permanent employee, (full-time or part-time), to a freelancer or contractor. This can go for web developers, graphic designers, SEO gurus, your professional writers, accountants, and HR teams--to name just a few. The holidays are over, so the excess guilt over layoffs has also come to an end.
2. All that social media
Social media for business is only a good thing in certain instances when it’s well maintained. This often means hiring a freelance social media manager. You may not need to have all those social media profiles for your business that are currently up—just because a platform exists doesn’t mean it’s the right fit for you or will help with business growth.
3. The overhead
Working from home or offering a virtual office can be the fastest way to saving money. While not everyone is cut out for working from home, that still doesn’t mean you need that big, costly commercial space that made you feel like a “real” entrepreneur in the past. With cloud technology, you and your employees can work from anywhere at any time. Unless you have a brick and mortar shop where customers physically come into your store, consider going virtual.
4. A certain corporation status
If you’re a sole proprietor who has built a thriving search engine optimization (SEO) agency or other type of business, sticking with that automatic corporation status might be best for you. On the other hand, maybe it’s time to file for an LLC, C-Corp, S-Corp, non-profit status, or something else. Work with a small business attorney to figure out which corporation is best for you, your business, and don’t get bullied into thinking one is necessarily better than the other across the board. Check out More Business’ outline of what corporations entail to get started.
5. The nay sayers
Whether it’s a certain acquaintance on Facebook, a business partner that’s turned into a liability, or even family members who poke fun at your business, it’s time to put them in their place. In some instances, it might mean cutting certain people out of your life, (not your family of course). In other situations, it might require you having a talk about how the negativity is hurting you. Being a small business owner is challenging enough without the added stress.
With business, what you don’t have is just as important as what you do have. Cut the fat, get rid of the liabilities, and start 2015 fresh. You and your business deserve it.