One of the most difficult aspects of small business ownership is delegating some of your responsibility to others. The difficulty lies in the fact that your business is successful because of your strong leadership and your ability to wear many hats at once. If that wasn’t the case, then your business would have failed long ago. So there’s a certain logic in your desire to do all of the work yourself; after all, if you want something done right, you should do it yourself. But doing all of the work and retaining all of the responsibility is the short road to burnout. Here are 3 keys to delegating that will save your business, and your sanity.

Don’t Be Such a Control Freak. Chances are that you’re most comfortable when all decisions come from you. But you can only run your company this way for so long before you become completely overwhelmed. Pick one or two of your key staff and let them make decisions on their own, without your input. That way, if you’re unavailable for a time, business can still continue. It’s certainly in your best interest to…

If you’re a small business owner, you’re all too aware of the current economic crisis and how it’s affecting small businesses all over the country. The most profound effect of the economic crisis is in the availability of credit. The news is grim, but it doesn’t have to paralyze your business.

Here are 5 ways to deal with the credit crisis and its effect on your small business.

Diversify Your Borrowing. Big banks have really gotten themselves into a quandary with messy mortgages, but local banks have primarily remained outside of the mortgage disaster. Try visiting community banks to find out what they have to offer you. Many local banks are highly interested in lending to companies that keep money within the community. Peer-to-peer borrowing is another option that you might consider, and is attractive to private lenders for the same reason that community banks are interested in lending to businesses who will keep…

The world of entrepreneurship is full of potholes and wrong turns. You may work for months and months only to find out that you need to scrap your original idea and try something else. You may follow a particular protocol for years before you realize that there’s a more efficient way to run your business. Much of this trial-and-error experience is to be expected when you’re starting your own business, and you can learn a great deal from your mistakes. But be sure to learn from other people’s mistakes, too. Here are 7 to avoid.

1. Working In Your Business Rather than on Your Business. Every business consists of little tasks that must be done to make the whole operation run smoothly. There is always work to be done. But your job as the owner of your own business is to…

Let’s face it, there’s a lot going on out there. Our economy is on the fritz and every news story tells us that one more multimillion dollar company needs a government bailout. Foreclosures are happening right and left. We have troops in harm’s way, and Christmas is only a few short weeks away. And that’s just the big picture! We haven’t even mentioned your business and all the things that you need to keep up with on a daily basis. Here are 15 ways to keep yourself focused amid all the distraction. See what works for you!

1. Plan for Each Day. Take a few minutes every evening and plan the following day. Outline 3-5 things that you want to accomplish and stick to it.
2. Plan for Each Week. Take a few minutes on…

So you’re starting your own business. You’re looking for space to rent for your office, and might need some clerical assistance at some point. So why not find a friend with whom to share office space and hire your sister for your part-time work? Sound too close for comfort? Here are 6 reasons to consider hiring friends and family to work for you.

1. They’re Trustworthy. When you hire friends and/or family, you can rest assured that they’re doing what you’ve asked them to do. They value the relationship too much to let you down, so they’re going to give the job everything they’ve got. Compare that to the…

One of the most burning questions entrepreneurs ask is how to go about funding their new businesses. Fortunately, there are as many answers to the question as there are businesses. This is a two-edged sword, however. While there are plenty of ways to fund a new business, the options can be overwhelming. As you ponder how you might go about funding your business, consider these 6 options:

1. Investments and Savings. This is the most logical place to start when finding business funding. If you’re serious about starting your own business, then you should be willing to put your money where your dreams are. The advantage of…