Posts Tagged ‘Business Operations’

Do you know that entrepreneurs also suffer from a loss of interest in their business at one time or another? Commonly referred to as entrepreneurial burnout. It is a time when the entrepreneurs have lost enthusiasm in their businesses. Explaining why some entrepreneurs sometimes say: “It’s just not exciting anymore.”

One may asked: What are the tell-tale symptoms of entrepreneurial burnout? Feeling of fatigue and loss of interest, what else. Many times the feeling of loss of interest extends to other things outside the business. Many times too, the physical appearance of the entrepreneurs betray the occurrence of entrepreneurial burnout. An entrepreneur suffering from entrepreneurial burnout looks haggard, tired, and irritable. As if body and mind just can’t seem to go any further.

Many of us are familiar with the common causes of burnout. Usually entrepreneurs start small. They are their own bosses and they control decision-making. In short, the entrepreneurs at the start are in control of everything. But as the company grows, it is no longer possible for an entrepreneur to do everything. He cannot be in charge of all things. Even if he wants to. He has to loosen his grip of the company. He must let go of other activities in the company and delegate the tasks to others.

Closely linked to control of the business is the decision-making aspect. At the start, an entrepreneur has a monopoly of decisions – all kinds of decision. But as the company grows, this arrangement is no longer possible. No matter how competent and organized an entrepreneur is, there comes a time during the growth of the company that it is physically impossible for him to handle all the decision-making aspect of the company.

Otherwise, the entrepreneur will be under stress due to decision overload.

How then should entrepreneurs cope with this problem of entrepreneurial burnout – sometimes referred to as entrepreneurial power failure? The entrepreneur should immediately reset his business priorities. Otherwise, he might end up having a nervous breakdown.

Business is not all business. There are many successful business men and women (including entrepreneurs) who have happy family life. There are many successful business men and women who share their time and money with others.  A balance life. A fulfilling life. A compassionate life.

Hopefully, this reminder about entrepreneurial burnout will be ingrained in the minds and hearts of entrepreneurial wannabes.

Have a joyful day!

As you go through your day, how many projects are you working on for your business? Presently, are you the only one who can complete these projects? What if you were to turn these projects over to a project manager? How much more time would you have available? What would you do with that time? Create new products? Add new services? Take on new clients? The list is endless.

If you want to forecast your full business potential by relieving yourself of these necessary but growth blocking projects, set up a few interviews with some potential Online Business Managers. Let them suggest what might be blocking you from your success and how they can help. This will give you an excellent idea of what your business could be like, should you choose to partner with an OBM.

In addition to being your project and team manager, a good OBM will implement business strategies and resources to save you time and money.

If you would like to learn more about how partnering with an Online Business Manager to grow your online business to new heights be sure to download my new free eBook, “Grow Your Online Business To New Heights With An Online Business Manager” on this web page.

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In the partnership between online business owner and online business manager it is the business owner who determines where they want to go in their business and it’s the OBM’s role to make sure that the bus get’s there!

Building a strong foundation for your online business is critical to its long term success.  A business can only grow so far.

The role of the Online Business Manager (OBM) is to ensure that all business systems, procedures and tools are in place and functioning smoothly.  This will bring peace of mind to the business owner knowing that everything is under control and the business can handle taking on more projects and clients to grow their business.

A great first project for your new OBM is the creation of a Standard Operating Procedure (SOP) manual.  Many small business owners can see the benefit of having one, but just can never find time or inclination to create one.  Usually it is quite a relief to the business owner having someone take on the project of creating one.  Tina Forsyth mentions in her book; “Becoming An Online Business Manager” that a business is really not grown up until it has a SOP.

A good SOP solves many problems such as:

• What happens if there is an emergency and you cannot pay as much attention to the business as you normally would.
• An SOP saves you time and money, because all procedures are documented and systems are automated.
  • Less time (time is money) for training new team members.
  • Less time searching for important information related to repetitive tasks and projects.
  • You will typically pay less for an automated system than for a person to do the same task.
  • The busy business owner can actually take a vacation and not worry about what is happening at the office.

As you can see from the few examples listed above having an Online Business Manager adds value to your business by getting your operations under control and creating a strong foundation so that you can grow your online business to new heights.

Watch for the release of my new eBook next week, “Growing Your Online Business to New Heights with an Online Business Manager”.  As an additional gift and resource to you for downloading the eBook, you will receive my 7-Day eCourse, “Are You Ready for an Online Business Manager”.  Each day of the course walks you through important questions to help you determine whether your business is ready to hire an Online Business Manager.

Scheduled to be released next week!