The trap
Know any businesses which are hugely successful (in profit) and are run by just one person doing everything?
Doing everything meaning – not only delivering a product or service, but ALSO successfully running every supporting function of a business including sales, administration, finances, and so on?
Take – for example – any of the ASX listed companies : these companies consist of hundreds or thousands of people working together in their own specialised areas of expertise – combining to make a business successful
Most entrepreneurs fall into the trap of handling too many functions which should be outsourced.
The recent changes caused by, for example, Covid, or any other sudden, unpredictable events, are examples of events that can be written in a ‘risk managment plan’ and should be part of normal business procedure.