3 Signs It Is Time to Hire Your First Employee
The life of an entrepreneur is exciting, gratifying, and yes, it can also be exhausting. You tirelessly ensure every client and task you take is done to perfection, turning your passion into a profitable and rewarding business.
The paradise can be short-lived when you find yourself having to turn away work. Yes! You have to say no to a new client or an existing one, despite your long hours in the office or on-site. You might start thinking you are going to need an extra pair of hands. These are all signs that it might be time to hire your first employee.
For many entrepreneurs, several situations and activities make it clear that it’s time to hire. Your business may be ready when:
You are turning away work.
Business is going to plan, or better than planned. You are so busy with business that you have to schedule months ahead. But that is not enough, your customers want more of you now; and new ones don’t want to wait until your next available meeting date in August, when it’s only April. For many small businesses, turning away work is gut-wrenching and now you are doing it. You are turning away work; it may be time to hire your first employee.
Your extended, extra overtime is not enough.
The rigorous 16-hour day routines have often been a badge of honor for entrepreneurs. Unfortunately, as business owners soon find out, extended days, little sleep and fluctuating productivity is not the perfect combination for success. This is a fast track to burnout, low productivity, frustration and potentially lost customers. When you are still behind, despite your best combination of passion and efficiency, it might be time to hire your first employee.
You are seeing the value of extra hands.
Cost, benefits and ROI are not just buzz words for an entrepreneur. They are key elements that result in either success or failure. Spending money in the wrong areas and at the wrong time can be the difference between staying open for another month, capitalizing on an opportunity and losing everything. When an extra pair of hands is able to pay for itself right away, it may be time to hire your first employee.
The decision to hire your first employee is never clear cut or easy. There are so many more factors to consider, but so many benefits to be gained as well. Having an additional person(s) can take your business to the next level with a greater capability to service your customers while giving you an opportunity to leverage your time and expertise for greater growth. Listen to your business and watch for the signs that let you know it’s time to hire your first employee.