Many small business owners make the mistake of working in their business by wearing multiple hats rather than working on their business. What’s usually missing? The systems and resources.
Ultimately, your small business can only grow to the maximum amount of work you can personally handle. It’s important to grow your team so you get more done. Growing your team is a lot easier than you may think.
A quick way to get more done is through interns. According to a survey of almost 10,000 college graduates conducted by the National Association of Colleges and Employers (NACE), approximately 63 percent participated in internship programs as part of their undergraduate studies.
There are both paid and unpaid internships and there are specific legal requirements for unpaid internships. An internship program serves as an economical way to staff your company. Interns also give you the flexibility and cost-effectiveness you need to manage your growth.
There are many other benefits to having an internship program for your small business. In addition to having additional hands to help out, having an internship program helps you to give back to your community.
Early in my career I participated as an intern so when I started my own business, I found it important to give back by working with an internship program. When a client of mine had human resource-related question, it was rewarding to be able to show my intern how to apply the theory she learned in her human resource program at college to a real-world situation. She also benefited by receiving a realistic view of the profession.
It’s important that you create a real-world learning experience for your interns rather than having them make copies or fax documents. Before you call your local university or community college, think through the projects you can assign to the intern. When you call your local university to explain the details of the internship, have an idea which degree program would be the best suited for that internship opening. For example, if you want the intern to work your social media strategy, then contact the university to target the marketing students.
As a small business, you provide unique exposure for your interns. Your environment provides practical experience and access to an entrepreneurial environment not available in bigger corporations. Because that intern gets access to the owner of the business, they get to see firsthand how strategy becomes operationalized, an advantage not always possible in big corporations.
There’s nothing better than having a new pair of eyes in your environment. Because they bring a whole new generation of ideas, you may just find a refreshing perspective on how to get more done, get new clients and grow your small business.
Click here to discover more of the best practices and important cash flow systems we teach students in the Wake Up Profitable Intensive.