Not every entrepreneur has the ambition to become an enterprise tycoon. But if you are going to be a small business success, you will still need some of the trappings of what makes big businesses successful as well.
There are certainly many big-business trappings that are completely unnecessary for a small business owner. Knowing the difference is often the difference between staying in business and going out of business because you overspent on unnecessary trappings.
For instance, it is not necessary to purchase a downtown office or sign a long and expensive lease for the same. You will likely do just fine without the multimillion-dollar Super Bowl ad. And the three corporate retreats to Fiji are most certainly superfluous. But other things that get much less attention are absolutely vital. Here are three such examples:
An IT Department, even for an Office of One
Are you an IT specialist? If not, you will need an IT department, even if you run an office of one. Some problems in life do not become much less serious or complicated based on the number of people having the problem. Some areas like information technology have to be resolved with the same care and expertise regardless of how many people are involved.
For example, the following areas need a professional to handle if you don’t want to lose business as a result:
- Hard drive failure
- Ransomware threats
- Commerce-ready web security
This does not even begin to address the deployment and maintenance of mobile devices to a small crew. Just recently, a NASA scientist was detained at the border until he unlocked his phone. That phone was compromised because it was taken away for about 30 minutes before being returned. The scientist took it directly to the IT department to have it cleared.
That is the luxury of being a big business. Fortunately, IT consulting St. Louis is an example of a company providing the same kind of service for small to medium sized businesses. Unlike with big businesses, IT problems can stop a small business in its tracks. Be sure to have local IT consultants on speed dial.
An Advanced Payroll Process
An employee will take a lot of guff before speaking out. But even the most timid employees will speak up if their paycheck is one second late. A day late, and you have a riot. A week late, and you have a lawsuit. This is just one of many reasons why payroll should be as important to you as it is your employees.
Outsourcing payroll to a professional firm affords you a certain air of professionalism than you get from writing a last-minute check, or pulling cash from the register to pay your employees. Also, your employees don’t want to be paid that way. They want direct deposit, or perhaps cash cards they can use right away. Payroll has to be done right from day one, even with a staff of one.
An HR Department Without the Department
There are good reasons for Human Resources to be an academic discipline for which a degree is required, including the following:
- ADA regulations
- Discrimination laws
- Workers rights
Make just one hiring error with the wrong person, and you can be out of business overnight. The safest thing to do as a small business is outsource HR by using staffing services. They cover everything including payroll. And you are covered by regulatory compliance. Fair employment rules apply to small businesses too. So become a hiring genius by outsourcing it to hiring experts.
You don’t have to become a big business to be successful. But you do have to have reliable IT support, professional payroll procedures, and compliant HR practices.