Finding someone to help you out for a just started business

Discussion in 'Starting a Business' started by healingforce, Jul 5, 2015.

  1. healingforce

    healingforce
    uix_expand uix_collapse
    Member

    Joined:
    Jun 18, 2015
    Messages:
    83
    Likes Received:
    4
    Hi guys, do you think that it would be a nice idea to "hire" someone that can speed up the process to land your business in the market when the business is just started or do you think that you should first do it by yourself and see if it is really worth to keep it running?
     
  2. backpackstatus

    backpackstatus
    uix_expand uix_collapse
    New Member

    Joined:
    Jul 5, 2015
    Messages:
    11
    Likes Received:
    1
    I personally think that it's smarter to try to run it by yourself and see if it's worth progressing. If you decide it is worth continuing, then I would hire an employee to help.

    Remember, running a business is all about the profit (and revenue, but that tends to correlate with profit). If you are only spending your time with the business, your only cost is an opportunity cost. This opportunity cost is simply what you could make if you were working a 9-5 at a company and getting paid through them. If you have the employee, you're actually losing money in the short term. When you're not guaranteed a return on investment in the long run, don't spend money unnecessarily in the short run.
     
  3. Corzhens

    Corzhens
    uix_expand uix_collapse
    Member

    Joined:
    Jun 24, 2015
    Messages:
    207
    Likes Received:
    19
    This may be out of synch but a great food for thought particularly for new entrepreneurs in this part of the world. A friend is to open a business and amid the advice and suggestions for her to pay a liaison officer for the registration of her business, she attended to the process by herself. Not counting the time she spent in going over the procedures, plus the annoyance, she had spent 35,000 whereas the liaison officer was only asking 25,000 to cover all fees and everything.

    With this thread title, I guess it is a good move to hire someone who is a veteran in that line of business.
     
  4. missbishi

    missbishi
    uix_expand uix_collapse
    Member

    Joined:
    Jun 24, 2015
    Messages:
    80
    Likes Received:
    10
    I can see the benefit in both approaches. Personally, I would attempt to start out alone but would regularly re-evaluate htings to determine whether it would be worth getting any professional help. I'm somewhat reluctant to pay someone else for information which I could probably find myself on Google in a couple of minutes. There's always the collective expertise of members of forums such as this one to draw upon too.
     
    • Agree Agree x 1
  5. Ted

    Ted
    uix_expand uix_collapse
    Member

    Joined:
    Jan 3, 2013
    Messages:
    182
    Likes Received:
    164
    If you are a first time entrepreneur then your tendency will be to try to do everything yourself. That has both good aspects and bad aspects. The good part is that it is cheaper that way in the short run and it helps you learn things about building a business that you would not learn as deeply otherwise.

    The downside to doing that is that you probably won't do as good of a job as an experienced professional would, it will cost you more money in the short run.

    One thing I learned from launching my own business back in 1995 (and others since then) was that if you try to do everything yourself, you will screw up a large percentage of it. I also learned that you can succeed much (much) much (much) faster if you are willing to seek help from more experienced people who have already accomplished the thing you are trying to accomplish. So, in hindsight, I would definitely recommend seeking help from outside sources if you aren't sure about how to do what you are trying to do. It will be money well spent in the long run.
     
  6. kaian

    kaian
    uix_expand uix_collapse
    Member

    Joined:
    Jul 4, 2015
    Messages:
    119
    Likes Received:
    11
    If you already have the skills to get the business off the ground then I think you are good to start on your own with no or just minimal help from other people. Remember when you start you have to be very careful where you spend your cash do you really need to hire or can someone else do it for free or with a minimal fee?
     
  7. Redd

    Redd
    uix_expand uix_collapse
    Member

    Joined:
    Jun 28, 2015
    Messages:
    88
    Likes Received:
    12
    Spend money only if you are sure you'll make more than you spend. A business isn't worth starting if you won't make any money from it after all.

    There's a way you could halve the risk. Instead of hiring someone, find yourself a business partner. There aren't easy to come by but it could save you a lot of money if you got one.

    However you should consider this only if you are willing to share the profits with your partner.
     
  8. david14beck

    david14beck
    uix_expand uix_collapse
    Member

    Joined:
    Feb 26, 2015
    Messages:
    91
    Likes Received:
    3
    I think its better if you run it by your own because its your business so learn something.but you are new in business and you think, you don't have enough experience to do this then hire for the first time and see how they work for your business. :)
     
  9. Robert01

    Robert01
    uix_expand uix_collapse
    Member

    Joined:
    Jul 7, 2015
    Messages:
    42
    Likes Received:
    2
    I'd say you should try to do somewhere between these two choices. A new business needs a lot of work to be done. But it is very very difficult for a single person. It's better to do all the thing by a single person but that needs more and more time. So. I suggest you to do most of the work and take the leadership, and hire someone to do some other work. You must need to be sure within two weeks that your employee is reliable.
     
  10. Katlin

    Katlin
    uix_expand uix_collapse
    New Member

    Joined:
    Jul 13, 2015
    Messages:
    2
    Likes Received:
    0
    It’s always better to try things first and then rely on someone to do it for you. There are two reasons behind this: It would increase your skills, knowledge and expertise of the field and second to get it done from somebody else, you should first be clear of it. Else, anybody can befool you.
     
  11. aspecialist

    aspecialist
    uix_expand uix_collapse
    New Member

    Joined:
    Sep 17, 2015
    Messages:
    28
    Likes Received:
    1
    It is fine to asked help with the expert before or during the operation of the business, expert business could give you the right strategy and techniques that could prevent your business to struggle. Mind Strategic Learning Consultancy is the one that could guide new business owners on how to handle their business.

    http://www.yourmindstrategy.com/expertprofits.html
     
  12. hemnaram

    hemnaram
    uix_expand uix_collapse
    Member

    Joined:
    Jul 22, 2015
    Messages:
    50
    Likes Received:
    2
    It is not easy one to choose someone for your new business. Because many scammers also exist in every field. First try yourself to identify whether you can handle that business after that find a friend who knows that business to join with you or hire some trusted person..
     

Share This Page