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Employment and business growth

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  #1 (permalink)  
Old 07-10-2008, 18:30
ryansrs1 ryansrs1 is offline
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Default Employment and business growth

Hi All,

Right, I currently run a small local service. At the moment it's family run but im getting to stage where I will need to take on someone 'outside' of the family in the coming months.

Now the thing that gets me thinking (and some may think Im dull to do so), but if I do take someone on, whats to say in time they decide to under cut my prices and try and take my customers and go there own way. Now I no im not alone in thinking this as on other forums I've been on for small-ish local services, other owners have stated they just kept it as family run or even stayed on their own-while still making a good living- because of this worry.

Now thats all well and good staying 'small' and keeping it local and all, but for those of us who are a bit more ambitious It's holding the business back from growing and expanding.

I suppose it's simular for most businesses in virtualy all sectors who take the step from being small to growing and employing.

Just would like to know of other peoples experiences of when they were at this stage and general feedback please.

Again may seem dull to some and that I'm paraniod but as I say I no others have felt this way and there business has not grown to the potential it could have because of this.

Cheers
J
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Old 07-10-2008, 19:00
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don't worry, its a natural thought because it can happen in almost any business. However, it takes a certain kind of person to leave their job and set up in business. They need money for start up and money to surviv until the income is rolling in consistently. They need to have a business head on their shouders, be admin, sales and accounts all rolled into one til they can afford to pay someone to do it, be resiliant, be prepared to work 12 hrs a day and spend another 6 hrs on A1.

The latter is most important so if they lack these attributes you have no problem!
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Old 07-10-2008, 20:26
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You can also ensure your employment contract stipulates they can't actively promote their services to your customers should they decide to leave, for a period of xx months.
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