Entrepreneur life is all about innovation and maximising great business opportunities.
But, it is hard to do it all alone.
Even if you have a team working with you, SMEs require a LOT of time and resources. Sometimes it seems that no matter how many people you have helping, it is never enough!
That’s why business support can be a real game changer.
If you have the right support it makes it easier to position your business for growth and development.
So, let’s look at some of the ways business support can help do amazing things in your business.
WHAT IS BUSINESS SUPPORT?
Business support can come in many different forms. It’s not only limited to getting someone to look after a specific task.
Far bigger than that, business support is all about getting the right resources, services and people to suit the individual needs of your business so that you can create growth, development and scalability.
Business support falls into a few different categories:
Professional Support - Recruiting the right experts will give your business the knowledge, skills and people power to achieve your mission and goals.
Technological Support - In our modern world there is technology and software to help with just about anything. Getting the right technological resources can take your business to the next level.
Financial Support - If your business needs a cash injection, there are plenty of options to explore. Grants, borrowing, investors and partnerships can all be potentially viable options.
Development Support - There is ALWAYS something new to learn, so taking the opportunity to regularly upskill your team (and yourself) is essential for progress.
All of these business support categories could help you move forward. But, it is important to remember that every business has different needs and some support will be more helpful than others depending on the trajectory and stage of your business.
Your needs will also evolve over time, so regularly assessing your circumstances can ensure you get the right support at the right moment.
THE BENEFITS OF BUSINESS SUPPORT
Innovation
Innovation is a key part of business success. With the right support on hand, you will have the freedom to innovate and develop unique products or services to serve your clients and customers.
This will help to set you apart from your competitors and allow your business to grow in the right areas.
Economic Growth
Effective business support gives you the time to focus on boosting your sales and increasing your business’ efficiency.
This can allow your business to achieve significant economic growth.
More Skills
When you have more support in your business, you are able to carve out time for your own skill development.
That means opening yourself up to the opportunity for mentorship, training and business coaching. All of these things can help you build your skills and enable you to do better business.
Better Networking
Networking is a great way to build connections and create opportunities for collaboration.
Obviously, two things that are beneficial for business growth. Yet, many business owners struggle to find the time to factor networking into their week. However, with the right support on hand, you can carve out some space in your calendar to attend networking events.
Expansion
When you are really busy, it is easy to fall into the trap of servicing the same market with the same offerings. Though, when you are well supported, you have the opportunity to explore potential areas of expansion or diversification.
This opens the door to developing services that complement your existing offerings or even to expand into new markets and international opportunities.
Scalability
Scalability is all about your company’s ability to grow and expand in a way that meets increased demands without compromising your service levels and quality. Scaling your business allows you to take on more work while still operating efficiently.
Being able to scale successfully will rely on having the right kind of business support behind you and the right people in the right seats!
Contributing Back
Having the right support can create a chain reaction within your local community. If your business has everything it needs to operate well, then it will be a great resource for your local community.
Then, when you are supported by a local ecosystem, you are able to reinvest and give back to community ventures through sponsorship, events and other contributions.
FINDING THE RIGHT BUSINESS SUPPORT
OK, we’ve just learned how vital the right business support can be. So, how do you establish what sort of support your business requires to scale and grow?
To find out, you need to take a step back from the daily operations and establish where the gaps are.
For example, is there a skill gap that training and development could remedy? Perhaps you need a cash injection to get an initiative off the ground? Or maybe you need to outsource some tasks to free up your time.
Identifying where your gaps are will help you to determine what kind of business support you require.
Is Outsourcing The Support You Need?
There are plenty of businesses that can benefit from outsourcing some of their administrative or repetitive tasks. Your business could be one of them! Especially if you are experiencing some of these things:
Too much work, not enough time: if you are finding that you don’t have the right amount of peoplepower to get through your workload efficiently, then outsourcing can give you instant access to skilled professionals and resources.
Time-consuming admin: if administrative tasks are consuming a significant amount of time for key team members and it is preventing them from focusing on core business activities, then outsourcing can free up their time for these critical tasks.
Inefficiencies: are you discovering that some of your admin processes are prone to errors or do-overs? Outsourcing to a specialist provider like a VA could fix this!
Hiring new team members: considering hiring a new team member? Well, it could be more cost-effective to simply outsource some tasks instead as you only pay for the hours your contractor works and they operate remotely from their own workstation.
Business is growing: as your business grows, the workload becomes larger and often more complex. Outsourcing can provide you with a simple way to scale; handling the increased demand without needing massive internal team development.
If any of these scenarios sound familiar, then outsourcing some of your workload to a highly skilled virtual Executive Assistant could be the solution you’ve been searching for.
So, why not book a time to chat with our GOOD team to discover how we might be able to lighten your load and allow you to focus on your core business activities?
