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There are numerous advantages to hiring someone, such as expanding your workforce, allowing you to concentrate on business tasks, and bringing new skills to your company. Nevertheless, the choice to hire your initial employee is not simple. It requires a leap of faith, looking past immediate cash flow and expected sales growth.

As a business owner, you typically take on multiple roles such as CEO, salesperson, marketer, and janitor. However, as your business expands, you will reach a point where you cannot handle everything by yourself. This is when you should start thinking about bringing on your first employee.

Signs that you’ve reached capacity

You’ll know you’ve reached capacity when:

• You’re getting more orders or more customers than you can manage.
• Customer complaints over delays are increasing.
• You’re working non-stop, and administrative tasks are taking up most of your time.
• You’ve started to say ‘no’ to new work, potentially missing new business opportunities.

Reducing hiring risks

If a full-time employee seems too expensive, consider part-time, casual, or contracting options.

• A part-time employee gives you extra help without the full-time cost.
• Casual workers can be called on as required.
• Contractors can be hired for specific project-oriented needs.

Considering experience levels

When making hiring decisions, take into account the desired level of experience. Seasoned employees may ramp up productivity quickly, but they often come with a higher price tag.

Calculating costs and potential

It’s crucial to calculate the total cost of employment, including their salary, benefits, equipment, recruitment, and training costs. At the same time, understand the potential that hiring an employee brings. It changes your business from being about achieving results through your efforts to achieving results through others.

Trusting your intuition

Taking on your first employee is a significant milestone. It’s not just about expanding your company’s capacity, but also about creating opportunities for individuals and their families. By investing in your employees, you are also investing in the growth and profitability of your business.

As a business owner, there may come a time when you need to take a deep breath and make the leap. Trust your intuition and make the decision that feels right for you and your growing enterprise.

Talk to us – we can help you through this process.