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Is now the right time for your first employee?

Found yourself saying something like this recently?...“I’m so busy I must get some help!”..... “I’m doing everything and have no time to grow the business”..... “I’m not doing the things I’m good at”.....“If I had some help the business could grow more quickly and earn more”...

Perhaps it's time to consider taking the leap and hiring your first employee?

I remember I’d been working in the dining room for several months and felt that I needed to put more effort into sales but at the same time I was going to meetings and developing my products. I still had some of my start-up funding (self-funded) and thought “let’s invest it in a sales professional”. So, with not a great deal of further thought I contacted one of my ex-students (I used to be a management studies lecturer!) and offered him a job for 4 months.

Looking back many years and many hires later it’s interesting to think about what I did right and what I did not so right! Back then I acted very instinctively, along with some planning, whereas now I think I marry instinct and planning more harmoniously. I should have had a better plan but on a positive note I was already thinking about expansion; bringing in skills that I didn’t have, and I recognised that employing someone would enable the business to grow, allow me to specialise in what I was good at, namely developing products and building client relationships.

With the benefit of my hindsight, here’s a quick checklist of reasons to hire:

  1. Cash – ensure you can afford it!

  2. Opportunity – you’re turning down work and/or new income streams

  3. Capacity – you can’t manage

  4. Overwork – you’re working too hard, and risking burn out

  5. Lifestyle – work/life balance is out of step

  6. Reputation – is at risk because you can’t deliver to customers’ expectations

  7. Growth – you will only grow if you take on someone

  8. Income – your income will only grow with a hire

So, if you’re thinking of taking on that first employee take your time to answer why, and if it still feels right go for it and let a new chapter in your business adventure begin!

Whilst this article doesn’t touch on any of the HR issues to do with recruitment (that’s for another time) here’s a starting point on some of the key factors you’ll need to bear in mind

If it would help to have a chat with me about whether now is the right time to hire someone, why not book a free coffee consultation below?

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