When first starting to think about potentially hiring staff for your growing business - it's a mixed bag of emotions. Both exciting and scary!
I remember going through this stage myself a couple of years ago. Many questions arise...
- Is now the right time?
- What happens if the business slows?
- The additional expenses are freaking me out!
- How do I find the right people?
- What is the exact role I need to hire for...
If your biz is producing more work than you can handle, it is time to staff-up.
There's 2 ways of doing this:
- Outsource - pay a consultant / freelancer / agency to do the job
- Employ - hire a staff member
Start with whichever option works best for your particular biz. (I went with Option 1)
Being an entrepreneur means you must bring on staff assistance to grow the business
Remember: As a Biz Owner, you shouldn't be busy doing employee work - you should be busy doing Biz Owner work.
The right staff in the right roles are an investment to your business. They should return 10-20x their cost once they are working efficiently.
- When you break everything down, what is your personal hourly rate?
- If you're spending time on tasks which would be cheaper to pay someone else to do - these are the tasks where you need assistance
- It's important to recognise the cost-benefit ratio for adding paid help to your biz
Start off small when beginning with hired help - you'll feel far more comfortable whilst adjusting to the additional expenses while you also determine how to best manage the workflow. As this person starts to free you up, you'll then gain the confidence to hire another person as and when you see fit.
This is the approach I've taken, and I now have 7 people behind the scenes!
Hire great people who can do targeted roles within your biz, so you can then dedicate your time to growth.
When adding to your team, always think about the future (long-term commitment, exact costs, the role you need filled, how this will affect your current position and what you'll do with your added time).
Alison is a Health & Wellness Business Coach who specialises in helping grow businesses, streamline communication and stand out in a 'busy' marketplace.
Read about Alison's Business Coaching Services or simply drop her a line to have a chat about how she can help you!