Small businesses have learned to be "skinny and petty" and, according to the National Federation of Independent Businesses (NFIB), nearly 80% of small businesses have little or no hiring during the summer.
Refraining from recruiting means a lower cost structure, but when is the belt too tight?
"No new employees, no new ideas, no new projects – too many entrepreneurs have become paralyzed by fear and uncertainty," says Michael E. Gerber, best-selling author of The E-Myth: Why Most Businesses Do not Work and What to Do About It and the creator of The Dreaming Room, the world's first incubator for entrepreneurs.
Some things to keep in mind:
Do not get caught up in today's game so as not to lay the foundations for tomorrow.
Modesty is often considered a virtue, but if you are an entrepreneur, it is a tragic flaw. And if the ambition of Steve Jobs was to make the electronics "a little better"? Thousands of entrepreneurs see their craft as a way to do their jobs independently. If they simply emerge – and consider it a victory – their modest success could be a tragic handicap.
Self-employment is one thing; a successful business is something entirely different.
An entrepreneur starts with an idea, but too often the idea is: "I have a talent (or technical skill); I will build my business around that talent." While this may create means to work on its own, this could prevent growth.When a business owner does not trust anyone else to do the work, he or she might not have enough time to develop new ideas, products, and growth opportunities Hire people who can replicate the technical aspects of what you do to be free to explore, experiment, and test.
Make sure everyone works for the same purpose.
A successful small business when all parties contribute to the success of the whole. If your employees work for different purposes, they do not just play as a team or move the company forward. Foster creativity, enthusiasm and energy by clearly communicating the dream and the importance and value of each one's contribution to it.
Any entrepreneur who wants to succeed must continue to implement creativity in order to innovate products and services. Sinking into everyday life because your staff is too lean ends up harming the creativity. Make sure you have the time and energy to tap into that spark that initially put you on the path to entrepreneurship.