I recently had a long conversation with a business owner who’s just starting to grow their business. They were struggling with the, “Do I hire or do I not hire?” business decision.
Essentially, their business has grown to a certain size, and they were at the point where they were running out of time. They also didn’t have quite enough revenue to hire an employee, and they were trying to make a decision on whether they should hire that employee or whether they should tough it out. After a long decision, they started leaning towards hiring the employee. Here’s why hiring an employee in this type of situation is often a great idea.
You aren’t going to be able to do it all on your own as a business owner. There’s going to be limitations, and it’s going to limit your ability to specialize if you don’t have more employees involved. By bringing in an employee, even if you can’t afford it upfront, you’re going to be able to use that employee to do the things they’re great at, and you’re going to be able to do the things you’re great at, which is going to allow you to grow your business even more.
Plus, it allows you to start building systems and processes, which are going to pay huge dividends in the future. So, if you’re sitting at that point, particularly if it’s just you and you’re starting to see that there’s too much demand for your time, or if you are starting to grow that team, adding some people to your team is going to allow great things. It’s going to allow you to do more with your business. I definitely think if it’s a close call, you probably want to lean towards hiring that employee. Don’t be scared.
What’s been your experience? Have you struggled with this decision in the past? What will you do differently in the future? Join us in the comments below and let us know your thoughts and ideas.
Make sure you download our free checklist to assess your business: www.mcbrideforbusiness.com/BlogGift
This posting is intended to be a tool to familiarize readers with some of the issues discussed herein. This is not meant to be a comprehensive discussion and additional details should be discussed with your attorneys, accountants, consultants, bankers and other business planners who can provide advice for your circumstances. Each case is unique. Past results do not guarantee future outcomes. This article should not be treated as legal advice to any person or entity. Freeimages.com/photographer Keigirl.
About the Author
R. Shawn McBride is the Chief Innovation Officer at McBride For Business, LLC. His signature keynote, The 3 Laws of Empowerment (www.rshawnmcbridelive.com/3laws), gives audiences an entertaining look at how they can prepare, plan and protect themselves. You can reach R. Shawn McBride at firstname.lastname@example.org or (214) 418-0258.
Get Shawn’s latest book: www.mcbridebook.com
Add us on Twitter: @McBrideForBus #McbrideForBusiness #3LawsofEmpowerment
Like us on Facebook: https://www.facebook.com/mcbrideforbusiness/?fref=ts