Hey, boss. It’s Sunny, and welcome to The Sunny Show for the Bright Side of Branding, Business, and Being Your Own Boss. I got a really, really good question from one of my students and one of our fellow bosses. Andra Maria Wellness asked, “How do you know when it’s the right time to hire a team?” I figured I could answer this question, or I could pass it over to the woman that I actually went to for advice when I wanted to hire a team, because she is absolutely the expert on this topic.
First, I get to introduce the master behind this whole hiring thing. Here’s a little more about Bonnie Fahy. Bonnie Fahy is the creator of Source it!, which Forbes calls the world’s premier education and online hiring and outsourcing for entrepreneurs. Bonnie’s here to share some simple but powerful strategies to determine when is the best time to hire a team to support you.
Here’s the top four things that you need to consider before you hire a team.
While there’s no perfect formula here, there are some key factors you’re going to want to consider when you’re looking to when is the right time to bring on your first team member?
First. You’re going to want to determine whether you’re more of an extrovert or more of an introvert. This is a time for you to do a quick gut check. Do you love having space to fully process your thoughts and really crave that alone time in order to feel like your best self, or are you someone who just loves phone calls? You love interacting with people, and you can’t wait until your next meeting. If you’re more of an extrovert, the important thing to remember is that you actually need others to feel fully energized and engaged in your business. In fact, many extroverts are what they call verbal processors, which means that in order to fully think things through, they need to talk things out with another person. You’re really shooting yourself in the foot if you’re not working with someone else if you happen to score high in extroversion.
If you’re more of an extrovert, it’s absolutely essential that you start working with others right away in order to fully maximize your productivity and your happiness, because no one wants the process of building your dream to feel like crap on a day-to-day basis. That’s not good, right? Let’s not do that.
Second. The next factor you’re going to want to consider is are you more of a DIYer, or are you more of what I call a preferred delegator? If you’re a DIYer, then you can figure out pretty much anything with ease. You can set up your own QuickBooks, you can do your own shopping cart. If there is a help manual nearby or a YouTube tutorial, you’ve got it covered. But if you’re more of a preferred delegator, then you’re someone who doesn’t really like figuring all that stuff out, and maybe when you try to do it, it just doesn’t work out that well. You know what? That’s a-okay. I’m actually the same way, and there’s no need to have any shame in your game about this.
That’s why there’s freelancers to handle tasks a la carte for you on a task by task basis. Plus, sometimes taking the time to learn certain skills will actually take away from your most important tasks in your business, making money. If you happen to be more of a preferred delegator, then you just need to get help sooner rather than later, especially when it comes to the essential tasks in your business, like how do you set up your QuickBooks or how do you get that online shopping cart to work etc.
Third. I want you to think about is how are you spending your time on a day-to-day basis versus what type of results are you getting? Not all tasks are created equally, and so you may be spinning your wheels and feeling like you’re doing so much work in your business, and you’re just not hitting your goals. If that’s the case, no worries. We’ve got a simple formula for you to follow to see where you’re getting blocked in your business.
First, you’re going to want to look at your money makers. These are the tasks in your business that whenever you do them, they almost always lead to sales. Maybe that’s doing Facebook Live. Maybe that’s going to networking events. I want you to list out all the tasks in your business that are making you money right now. Finally, I want you to look at your profit blocks. These are tasks that you might even enjoy, like responding to the 10,000 comments you got on your latest video or making the perfect Instagram quote. Even though you really like these tasks, because they’re lower dollar prior, your time is better spent elsewhere. What I want you to do is take a look at how you’re spending your time, and if you’re spending too much time on your profit blocks and your energy sucks, then it’s time to get help right away.
Lastly, once you determine that you need to hire someone, it’s time to think about what can you afford? This just comes down to one key question. Do you have consistent sales? If you’re in a place where you’ve got money in the bank and you’ve got more opportunities than you have time to fill them, then you definitely can afford to hire someone. The amount you can afford to hire them for is really going to come down to your budget, so maybe 20 hours a week, maybe 40. That’s going to depend on you.
If sales are more consistent and you’re in a place where you hit a plateau, then you’ve got a few options. First, if you’re more of a risk taker, then you want to get honest with yourself and ask yourself how long is it going to take for you to fill in the gap of the lost revenue that you had in your business? Is it going to be two months or is it going to be more like six months or maybe you’re not sure? If the latter is the case, then you don’t want to put even more pressure on yourself by creating another cash suck in your business.
You’ve got tons of options here if you still need help. First, you can hire freelancers all over the globe for your low dollar prior tasks. You can also hire domestic freelancers on an a la carte basis just to get tasks done as you need them. If cash is really tight, you can always trade services with someone or get an intern to come in for free. The point here is no matter where you’re at in your business, there’s always an affordable option. Don’t make your business a nightmare by doing this alone. You’ve got this. Get yourself a team. Get yourself some support, and you’ll be good to go.
That was such great information, and believe it or not, Bonnie actually has an entirely new and other training that you can attend on how to hire a team at what you can afford right now. To get involved in that master class, here’s the link. Be sure to join the Be Your Own Boss Mastermind group, where there are thousands upon thousands of entrepreneurs there to support you in growing your business on your terms. Join us there.
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