Question: What is the most difficult thing to manage in starting / running a business?
A: From my experience, it is most difficult getting full use out of the people you rely upon. There are 20 hats to be worn and only a few people to wear them. They must be capable people. They must be affordable. There is no room for “almost” and nobody can be loafing. It’s hard to watch it all and so entrepreneurs tend to start with people they already trust. I understand that and I chose to do that myself several times. Just know that you will be turning most of them over fairly quickly if the business shows promise. The temptation in this case will be to put friends/family ahead of the business. That is a critical error. Everyone must respect the business’ best interests. Anyone who doesn’t must go. Just look at each person’s RESULTS – not their best intentions. The business deserves everyone’s best and results must be mandatory. Being strict about results and not being swayed by people’s excuses is the hardest thing to manage in the early stages because we don’t feel we have time to fire/hire and we tolerate mediocrity instead.
Tags: Entrepreneurship, Starting a Business