Common Small Business Growing Pains

The first few months to a year of owning a small business can be a high-pressure time. On top of daily tasks, there are big decisions to make and a culture to set to make sure your business will have the strong foundation it needs to survive.

More than likely, a budding entrepreneur will run into a few growing pains as their business starts to grow. How you deal with these growing pains can make or break your business, so you’ll want to be prepared for them and ready to take on whatever comes your way.

Below, we’ll detail a few common growing pains and how to manage them.

Lack of Work/Life Balance

Though it might be tempting for new entrepreneurs to work all day and night, doing so can lead to burnout. And with more than 70% of workers reporting that they felt burnt out in 2020, now is the time to focus on wellness, for both you and your hires. You can do this by focusing on work/life balance in your company. Refrain from sending work emails at night or on weekends, and make sure that both you and your employees log off of work at a reasonable hour each night.

Though it might feel like you’re losing precious hours that you could be spending growing your business, it will be better to do so in the long run. Remember that starting up a business is a marathon, not a sprint — and plan accordingly.

Hiring Smart

A bad hire can be costly. Not only financially, but it can also be bad for morale in the early days. So you’ll want to make sure you’re hiring smart. When screening candidates, think about what they’ll add to your culture, and if they have all of the qualifications you’re going to need as you scale. The right hire will be someone who can do the job well, handle the awkward growth period of an early-stage business and who will add a positive influence to the workplace.

Goal-Setting

Setting clear goals can help you figure out exactly where you want your business to go, and exactly what you need to do to get it there. If you don’t set clear and actionable goals, your company may end up feeling directionless or lost.

But on top of that, hitting those goals can also boost confidence. When you set short-term goals, you can inspire confidence as you grow and continue to hit those goals. So make sure that you set both short- and long-term objectives, which you can use to guide your company and let your early hires know exactly where you want to go.

For more information on common small business growing pains, check out the following infographic.

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