Hiring a Manager

If you're uncertain about your ability to run a small business, one good way to offset that concern is to hire someone to run the business for you. This accomplishes two purposes. First, the manager can bring instant experience to the new business. Second, if you have another job, you'll be able to continue with your current employment, and you'll have something to fall back on if your new business fails.

But a few words of caution about hiring a manager:

• First, your new business will be only as good as your new manager. If you, by chance, hire a bad manager, your new business may never recover from it.
• Second, hiring a new manager can be expensive, especially if you want one with experience in the field. Just make sure that the benefits outweigh the costs.
• Third, there really isn't such a thing as a part-time small business. Even if you hire a competent manager, you'll be amazed at how much time your small business will demand of you. So be prepared to work long hours in addition to those you put in on your other job.