The hot topic in next week’s #tradestalk over on Twitter is whether to expand your business by taking on staff. The #tradestalkteam have been asking whether hiring is something you’ve done before or would like to do in the future?
Talking to our customers, we know some of you have downsized your trades business because you’ve found managing a large team more hassle than it was worth. While others among you are keen to grow and scale your business.
A great employee will either make you money or save you money. But before you even think about hiring, you need to figure out if you can afford to take on an employee. We’re fortunate to have Denyse Whillier, a former CEO working with us. Over the course of her career, Denyse has hired (and fired) dozens of employees. Here’s how she recommends you approach your decision about whether it’s the right time to hire.
Are You Ready To Hire?
It’s definitely time to think about hiring if…
You’re turning away customers.
You’ve identified new revenue streams e.g. products and services you’d like to offer but don’t have the time to pursue these.
You’re having trouble managing your workload.
You can’t find time for family, friends, hobbies, holidays, or even weekends
You need someone with specialist skills.
If the above have you nodding your head in agreement to these questions, it’s almost certainly time to hire. Your next steps are to determine what it will cost you to take on an employee and whether your business is financially ready to make your next hire.
We’ll explore the answer to each of these questions in our next articles.
Meanwhile you may also find these articles helpful:
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