Running a business is stressful enough, wearing so many different hats and trying to do everything can be nearly impossible.
At some point you will most likely start to consider hiring a staff member and if that’s you, here’s some things to consider before you jump on Seek.com
1. You know what the job description looks like.
This might mean you brainstorm a list of everything you want (or need) the new staff member to do, this doesn’t just provide clarity to the new staff member but it will help you to see if a new staff member is going to solve the issue or if it’s something you can outsource or automate.
2. You’re busting at the seams
Not many people work well ‘under the pump’ so something to consider is what your sweet spot is? For example you may work well with 8 clients per week and anything over that means your quality of work and/or customer service is affected.
3. You have a Forecast
I know, it’s such a banker thing to say but it really is true. You may be having your busiest month yet but you’re just about to hit the wet season when all your work dries up. Or you might be busier than ever and looking to leverage this growth. Either way, your Cash flow forecast (and also previous years actual) can help you.
4. You have a business plan
Much like your Forecast, if you fail to plan, you plan to fail. So consider your Business plan, with that new staff member in place, what changes will that make to the business plan and who will be doing what to generate more business?
5. Know your finance options
Before you put a staff member on it’s always a good idea to look at your finance options, you may need a business loan to pay for the new staff member until they’re up and running. You may need an overdraft to cover cash flows on the months you’re quiet and still have to pay wages. Consider your options and get what you need in place before putting a staff member on so you know you have a back up plan covered.
To find out more about your finance options call me on 0412862811 or book an appointment with me.
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