Earlier last week, Vlad Moldavskiy from MeetAdvisors had a chance to catch up with Mike Santoro, president at Walker Sands (based in Chicago).
Besides having a moment to hear about Mike's business, we were also able to get some great advice for our MeetAdvisors community.
Mike's advice can be found below:
Entrepreneurs by necessity wear many hats. For a short while that's a good thing as it allows you to truly understand the ins and outs of your business. Unfortunately it won't scale and besides no one ever succeeded by being an expert in everything.
As your business grows you need to chose the right talent to help you scale your business. When Walker Sands was young, one of our smartest hires was a bookkeeper to handle invoices. Accounts receivable and cash flow instantly improved. Plus we now had the visibility into our financials to plan further down the road.
In that same vein, look to outside consultants to bring expertise to your firm. Over the year's we've had a variety of agencies create videos, build software tools, and offer critical advice to help our business grow. In many cases we debated whether bringing someone internal would be a better fit, but in each case we decided the expertise that particular firm could bring would be better served than adding a full time employee.
As entrepreneurs, we like to think of ourselves as the smartest guys in the room. There's nothing we can't accomplish if we don't put our minds to it. But sometimes that's not true and even if it is trying to do everything results in very little getting done.
My biggest piece of advice is for entrepreneurs is to hire experts in order to scale and grow your business. It can be hard to give up control and put your faith in someone else, but it's been one of the keys to our growth at Walker Sands.
- Mike Santoro is the President of Walker Sands, one of the fastest growing public relations and digital marketing firms in the country. Focused on technology clients, Walker Sands is #1483 on the 2013 Inc. 5000 and is a finalist for both PRNews and Bulldog Reporter's Small Agency of the Year awards.