When is it time to hire your first employee?

You’re a solo entrepreneur. Business is doing well, but you are burning the candle at both ends and your family is no longer pretending to expect you at mealtime. That’s no bueno.
It might be time to consider hiring some help.

You Might Need to Hire Some Help If…

• Your customers are seeing you less and less (especially if you’re in the consulting business).
• You are doing tasks that aren’t in your sweet spot of skills (hello accounting, graphic design).
• You are spending 100% of your time putting out fires and no time planning your business (recipe for disaster).

Think about the last month. Do any of the items above resonate with your schedule? Then it’s worth at least exploring whether you’re ready to handle hiring someone.

You’re Ready to Hire Help If…

• You are prepared to delegate work and manage another person.
• Your profit margins can support the investment. (Consider salary and benefits.)
• You’re mentally ready to fire the person if it isn’t working out.

If you feel comfortable with the items above, you can move to the next step, which is defining your biggest need and writing a detailed job description. This might be the hardest part, because you may need skilled help in multiple disciplines.
Time to sit down and gut check what you really need. How many hours worth of work do you need for each task or skill-set? Maybe you don’t even need a full-time person.

Some Alternatives to Hiring a Full-Time Employee

• Virtual help, virtual assistants – there are tons of resources out there for virtual employees. They can help with tasks like scheduling appointments, copywriting/editing, and more.
• Part-time help – you could consider hiring someone for a few hours a week. See if it’s working out, if you’re comfortable delegating responsibilities, if it’s helping you get more business.
• Freelancers – hiring a freelancer is a great way to accomplish a one-time, defined project. Be sure you specify, up-front, exactly what the job entails and what the delivery date will be. Get a signed agreement.

Have you been thinking about expanding your business?
You’ve got to spend money to make money. Don’t be afraid to invest in your business and yourself.

Source: Liz Straus