It can also be hazardous. "Ultimately, if you want business to grow, you have to spend time growing your business," says Jim Evanger, CEO of DOTI Franchising Inc., a Barrington, Ill.-based interior-design firm that is testing the waters of franchising.

Granted, entrepreneurs expect to put in plenty of time, but if you spend 10 hours a day filling out forms, there's little time for creative thinking about how to expand your business, says Evanger. That includes looking for new markets and searching for ways to get your message heard above all the other noise in the market.

Engage in a little soul searching and ask:

• What are the things I can do myself?
• What are the things I should do myself?
• What can I delegate to someone else?

Freeing up your time could require hiring another employee or outsourcing. Which way to go? Evanger and his wife and business partner, Michele, believe in both. If the work involves "touching the customer," it belongs in-house, they say. But for behind-the-scenes work like graphic arts, the Evangers prefer to outsource, believing they can afford higher-quality work than they could on a full-time basis.

Writer: TJ Becker