Recipe for Trouble: The Lone Ranger

When you start a new business or even if you have been in business for a while, it is easy to start to think of your business as your baby. After all, you started it from scratch, it was your idea. So you know best right? Well, maybe. Sometimes you can work so hard in a business that it becomes difficult to see the business objectively.

If you have a successful business it is possible that things got a lot bigger very fast. You suddenly find that you need a lot of things you didn’t need before—everything from more people to a better way to ship. You start to meet a lot of people that all seem to have some ideas about what you should do. If you aren’t careful, you can find yourself with a whole lot of people you don’t need, a whole lot of vendors looking for money, and the work that you needed still not getting done. How do you know what you need? How do you know you are using the people you do have to their fullest potential?

The people you have working with you are easily your most valuable asset. Not using them to their full potential is one of the most costly mistakes you can make in your business. Not only does it mean you have excess capacity in your workforce, but it means you could be spending a lot of money needlessly. There are a lot of vendors out there that offer every kind of service you can of and some you never knew existed. Good salespeople are good at what they do because they can make it seem like your company can’t exist without whatever they are selling.

Your best defense is to have a good business plan. You should write the plan while you are still objective about the business and its needs. If you try to go backwards, you find yourself trying to fit what you already have into the plan (no one likes to fire people). Second, try to work with a group of people that are not directly involved in the business, but are knowledgeable about your business. It is well worth your while to join some business groups. The local chamber of commerce, BNI, or other business networking groups are some examples. These groups can be valuable assets when it comes to giving you advice and ideas about your business. Even friends can sometimes see what you can’t.

Remember, "pride goeth before the fall". If you think things are getting out of control don’t be afraid to take a step back and ask for help. Better to slow down a little and stay on track than forge ahead and find yourself derailed.