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less complicated tasks.

Before adding employees, carry out an
inventory of the necessary tasks
required to operate your business.
Once you've identified all necessary
tasks, assign primary responsibility for
each task to one person. Although one

person will be assigned more than one
task, make sure no two people are
assigned the same tasks.

Also, make sure at least one other
person knows how to do each task to
cover yourself during times of staff
shortages, whether due to temporary
absence due to illness, or when an

employee resigns and it takes you a
while to find a replacement.

Finally, and most importantly, when
assigning tasks, assign yourself the
tasks you do best (NOT just what you
like to do).

Capital

To grow beyond the start-up and initial
growth phases, you will

need capital to inject into your
business. Now this, unfortunately, is
easier said than done. Banks can be
leery of entrepreneurial ventures and
venture capital is not easy to obtain.
But, although obtaining borrowed
capital is difficult, it is by no means
impossible. Here are the main sources
of funds:

Banks

Cultivate a good relationship with your
banker. The more he or she
understands your business and knows
you, the more likely it is that your
application will be approved. And this
means more than just fronting up when
you need money. Keep your banker
informed of all significant developments
in your business and routinely provide
copies of your annual business plans.

Be prepared to demonstrate that your
business is capable of generating
cashflow and think about what

collateral you have available to put up if
necessary.

Venture Capital

In addition to a solid business plan and
track record, venture capital providers
want to see that you understand your

customers and how your business is a
good fit with their needs. So arm
yourself with competitive intelligence
and satisified customers as references.
Also, be prepared to show you have
access to experienced management
staff. These individuals need not be on
your payroll but you should expect to
show that you have a depth of
experience and talent available to you at
least in an advisory capacity.

Revenue Stream

Instead of selling equity to raise capital,
consider selling part of the revenue of
the business. In other words, investors
advance loan capital and get repaid by
way of a percentage of the sales of the
business. This preserves your equity in
the business and is attractive to
investors because they receive an
immediate cash return.

This method has the considerable
advantage of avoiding securities laws
(it's a loan rather than a sale of
securities) but it's only viable for
businesses with high margins and
strong sales.

Angel Capital Electronic Network

ACE-Net brings companies looking for
capital together with angel investors.
You can find links to ACE-Net at
http://www.sba.gov/ADVO .

Direct Public Offering

If your business has a strong
relationship with its constituents

(employees, customers, vendors and
community), consider selling stock via a
direct public offering. The securities
laws involved in such an offering are
complex though so be prepared

for some pretty hefty legal fees if

going down this road.

Miscellaneous

Other miscellaneous sources of funding
include 401(k) plans and provision of
loan guarantees by the Small Business
Administration (http://www.sba.gov
http://www.sba.gov), family members or
friends.

Work On the Business, Not In the
Business

The third and final point to note about
breaking through the glass ceiling is
that you must make the mental
transition from working IN the
business, to working ON the business.

Until your business hit the glass
ceiling, you were effectively working in
the business, much as an employee
would. In this sense, the business was
your job, a place to go to work. But

beyond the glass ceiling, your business
becomes an entity unto itself. It is no
longer your "job" to work at the tasks
that make up the business's operation.
Instead, your role is to

work "on" the business as a separate
entity, leaving the tasks to your paid
employees.

Hopefully you can see that shifting
your perspective in this way is the key
to the long-term growth of your
business and the difference between
true autonomy and indentured
servitude.

Elena Fawkner is editor of A Home-
Based Business Online ... practical
business ideas, opportunities and
solutions for the work-from-home
entrepreneur.

http://www.ahbbo.com