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| CRBJ Home > November 2006 | |||||
Leaders: Ask for help before you need itBud Gayhart
Entrepreneurs are interesting people. By their nature they are typically fiercely independent. Some entrepreneurs think that asking for help is an admission of failure. Quite the contrary, asking for help is an indication that business owners recognize there is something wrong and acknowledge that they do not have all of the answers. Finding people to help with a problem takes time and effort. It means identifying people who complement your strengths. Many small businesses are started by "doers." These are people who are on the operations side of the business. They make things, convert things, build things and repair things in the business. They may not be the world's top sales people or the best marketing geniuses; they may not have a strong grasp of the financial aspects of running a business. So, when the business hits a speed bump, it may take them some time to recognize that there is a problem and then to respond. So, when is the right time to ask for help? The right time is before you need it. Small business owners need to surround themselves with a network of resources that can act as a sounding board. These are people with whom you can share your concerns and dreams. Find people who will be objective when evaluating the problem and not simply tell you what a great person you are. Creating a "board of advisers" made up of people with a variety of experience and expertise is one of the best things a small business person can do. Where can you find qualified advisers? Fellow business owners are an excellent resource. Look for networking opportunities through your local chamber of commerce and through entrepreneur groups. Take advantage of free business counseling available at your regional Small Business Develop-ment Center. Seek referrals to small business bankers and attorneys. Form a diverse group to optimize its value. Once you have that group identified, use them. Meet with them on a regular basis and call them individually if a problem arises. If you use a board of advisers in this way, you may never reach that crisis point in your business. The most successful entrepreneurs are those who surround themselves with talent. They will find gaps within their abilities and hire people to fill those gaps. The best entrepreneurs will build bench strength within the em-ployee ranks. Find highly qualified people and grow them to take over responsibility. Ask them "what would you do if you were running the company?" and be prepared to accept some very good advice. So, when should you ask for help in running your business? The answer is every day, all the time, and constantly. Bud Gayhart is interim director of the Center for Innovation and Business Development at UW-Whitewater. madison.com ©2009 Capital Newspapers. All rights reserved. |
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