Like many a small business owners, or solo entrepreneurs as I like to call us, you probably tend to try and do the majority of the work yourself. Accounting may not be your strong point but you know enough that you can get by and save that $250 dollars you spent last year for something more important like marketing. Right? So when do you finally come around to admitting that perhaps the time you spent on a certain task could have been better spent earning the money to pay someone else to do it in the first place? I have gotten to the point where I feel like I am just inches away from attaining the next level in my business yet it remains surrounded in a deep haze. Employees are not yet an option for my particular business so often times look to outsource my weekness.
My weakness happens to be sales. I have done my share and have been able to establish some decent accounts but after two years of business I often question how this has gone on as long as it has. Bottom line is I need to realize greater sales. I need someone who can get out there and pound the pavement, undaunted by the prospect of being shot down. My time is far better spent designing new product, finding new suppliers, keeping an eye on trends and creating new ideas. That is what I am good at, that is what I enjoy. Ok so you have reached the point were you are willing to admit a weakness and you even realize that there are plenty of people out there that could solve your problem pretty easily. Now for the hard part, how do you create a compensation package that is both desirable to the prospective employee or contractor and affordable for your business. I have started exploring several options and continue to find the following to be the best possible route for my current situation.
Sharing the wealth. Because I do not have a readily available source of disposable funds I am considering the creation of a profit sharing type situation above and beyond the normal commissions. By proposing the potential sharing of end of the year profits I hope to be able to recruit a more experienced and serious minded individual. I realize that the promise of a share in the eventual profits can be a bit flimsy at best, however I look at it like this. Sales is itself an entreprenuerial venture in the sense that, regardless of the product or company you are out there selling, you are in a large sense in charge of your own destiny. If you have a product that has the ability to be sold then you make the decision concerning how much or how little time you are willing to put into closing the sale. Your eventual income is in your hands.
Outsourcing can be a intimidating prospect for some entrepreneurs in the early phases of a start-up due to money constraints as well as the propensity many of us have towards believing that it won’t be done right unless we do it ourselves. Deciding that it is time to look at the possibility of outsourcing some of your work is a step in the right direction for most business as they begin to grow and there are a number of options to consider when developing a compensation package that will make it worth while for both parties involved. Research your particular situation carefully, do a thorough check of the interested candidate and believe your gut feeling. In the end it is very important to find someone that is trustworthy and is willing to share in your vision for the company. With a bit of work you should have no problem taking on outside help.
