Hiring can be an extremely nerve-wrecking decision –
- What are they going to actually do?
- Can you trust them with your business?
- How much do you have to pay them?
But hiring is something that as a business owner is inevitable. Whether it’s just a virtual assistant, or you’re hiring a project manager, you’ll want to make the right hires for YOUR business.
I suggest entrepreneurs look at what stage they’re in so you can hire the right person for right now.
STAGE ONE –
Start Up: Defined by the new {and the lack of profit}. This is where ideas are born and the early times when you’re building a product or a client list for your services.
STAGE TWO –
Grow Up: You’ve created a profit on your own and you realize you can maximize this profit with the help of others.
STAGE THREE –
Scale Up: You’ve built strong profits and have hit your max capacity {or you may even want to cut back at your work}. At this point, you’re trying to scale your business income upwards completely outside of your own workload. This is where real teams are a must because there is a strong hindrance.
Within every stage, you have to ask one question when it comes to hiring:
How does this affect the revenue?
In a Startup, hiring someone to clean your house so you can grow your client list, impacts the revenue.
In a Grow Up, hiring a part-time sales manager can allow you to work on the big picture strategy of the company and its products and services while continuing growth upwards.
In a Scale Up, hiring a team for customer support, may mean significant retention of revenue, which allows you to compound new revenue.
So choose which stage you’re in.
And listen in to the rest of Episode 011 so you can decide for yourself what the smartest hire for you and your business is.
In this episode, you’ll learn:
- How to build a team and define your strategies
- Why hiring is necessary for the growth of your business
- What are the different stages of building your business and how each has ways of directly impacting your revenue
- What parts of your business can be outsourced
- Learn how and when adding to your direct team is necessary
- How to hire the right people
- The importance of leveraging other peoples’ knowledge
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