It’s no secret that running a small business can be a tough endeavor. In fact, it’s estimated that 96% of businesses will fail within ten years of opening. It can be hard to know what you need to do to keep your business thriving despite those odds. It can be hard to know where improvements could be made to the function of your business.
One common mistake seems to be thinking that you can do everything on your own. There are many aspects of managing a business that often needs years of specialized experience in a given field. The following will break down some of the most important services that small businesses need to continue flourishing. Of course, every business is different and so is every business owner. Use your judgment to determine which of the following applies to your situation.
A poorly-designed or slowly-loading website can cause frustration and result in potential customers turning to other providers. This has grown especially important as generation Z continues to grow and begins making more and more purchasing decisions. It turns out you have only eight seconds to grab hold of the attention of generation Z. Outdated or poorly-designed or non-mobile friendly web pages can have terrible long-term results.
Beyond this, as people begin to understand how their data is collected and being used online, they are being more cautious. Many businesses find they need to consult a professional to make sure that anyone who visits their site and interacts with their business digitally has their data protected and that unnecessary data is not being collected by your website hosting platform.
Organizing your employees’ different benefits plans can be complicated, and therefore, confusing. The experts of Zenefits.com emphasize that each time a staff member goes to the doctor, dentist, or optometrist there will be questions to be answered and forms to be filled out and calculations to be done. On top of all of this, you need to navigate and ensure you are meeting benefits compliance requirements. Because of this, many small businesses turn to benefits-based services for help.
Business taxes are another game entirely. Detailed records need to be kept, in the right way, covering all the right things and submissions need to be tightly scrutinized for errors and mistakes. Not only can poorly managed accounting get you in big trouble with the law, even to the point of jeopardizing your business, it can also cost you a lot of money. It is not uncommon to find that hiring some outside accounting help generates such a nice tax return that it is completely worth the initial investment. Many business owners felt drawn to start their business because of their passion for the industry and the product or service they offer. Their skills and talents do not always cross over well to accounting.
The law is a complicated thing. It’s written in Latin-inspired, old-English, legal jargon that seems specifically designed to confuse those of us without law degrees and years of experience working in law. While ongoing movements are trying to change how inaccessible legal writing is, this will likely take a long time to affect. In the meantime, consulting a professional attorney can save you and your business a lot of trouble. Many people find having someone translate what the law actually means as it pertains to their business incredibly helpful. Lawyers can also give you an idea of a few things you could do to further protect your business in a legal sense.
As stated above, all businesses are unique and there is no one size fits all business services. Perhaps you have a niece who is a website developer and she’s offered to manage your webpage. Perhaps you used to be an accountant before you started your business and so don’t feel the need to hire outside help for that purpose.
The above list is just a jumping-off point when it comes to business management. The takeaway message is that you don’t have to do everything yourself, in fact, you might actually save money or make money by having other people help you with areas of business management that you are uncomfortable with. You might find you need outside help with something not on this list, or with each and everything on this list. As with any online business advice, always take into consideration the specific needs of your customers, employees, and company before you apply things to them.