As a startup business, you’d be smart to take your time with big decisions. One huge decision that startups should never rush into, is hiring. Once you hire your first employee or first set of employees, you have more mouths to feed. You’re responsible for paying them, even if your business isn’t getting paid. You’re also responsible for their safety, so you need to consider the work environment, insurance policies, and anything else that may affect them. This is why many startups put off hiring for as long as possible.
While hiring too soon can certainly be damaging for your business, failing to hire could also be damaging. If you wait too long, you may not be able to fulfil orders from people who really want to work with you. You could be holding your business back.
There will come a time you need an employee you can delegate too. What tasks can you give them that will help to save you time, and allow you to focus on your work better?
Spending Money To Make Money
Although hiring your first member of staff means spending money, you sometimes have to spend it to make it. For example, businesses who hire social media managers don’t make money straight away from their hire, but in the long-term, it pays off. Business owners save time and the social media manager helps to increase brand awareness, drawing in more conversions.
Is failing to hire harming your business? The infographic below can help you to get started with your first hire!
credit to Washington State University Online