When should entrepreneurs fire themselves

As rewarding as entrepreneurship can be for small business owners, it can sometimes be isolating and limiting. This is arguably why most entrepreneurs are not successful. However, those who strive for success never do it alone. Instead, they rely on a team of advisors that help them grow not only through the business, but also as people.

This notion is supported by a HuffingtonPost.com report that examines whether entrepreneurs should fire themselves. The uninitiated may think “Why would an entrepreneur fire themselves?” But it makes perfect sense when considered in the context of how a small business grows into a powerful enterprise. 

So how does an entrepreneur decide when to fire themselves? More importantly, when is it appropriate to start handing out pink slips? There are several guideposts, including:

Menial tasks dominating the day – Whenever you are taken away from core aspects of your business for extended periods of time, it is time to get help so that you can focus on working on the business (as  opposed to in the business).

The business is not evolving – Every business goes through changes (good and bad). However, when it stops growing, you may need help getting to the next step. A team of advisors can help.

In a small business, the entrepreneur often has many jobs: sales consultant, sales manager, advertising executive, production manager, customer service representative, quality manager, the titles go on and on. By firing oneself, the entrepreneur is forced to replace him or herself with someone else, which frees them up to handle other aspects of the business. But in delegating tasks, the contracts that accompany them must be clear and unambiguous.

If you have questions about creating vendor contracts, an experienced business law attorney is a helpful resource. 

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