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The clients keep approaching you. The money keeps rolling in. Your business is booming and you’ve never been more proud. You’ve also never been more exhausted – how are you supposed to do all this work by yourself? Are you going to have to start turning away clients? No, there’s only one solution. You’re going to have to start hiring employees.
Taking on other workers is imperative for any growing business, but it’s something you can’t just dive into. There are laws and rights to be read up on, more accountancy to account for and extra responsibility to cater to. By hiring an employee you don’t want to add to the stress – you want to relieve it. Considering some of these things could help you prepare for becoming a boss.
Take a course
Not everyone is a born leader. Many are afraid of managing people out of a principle of trust, and would much rather run the ship themselves than delegate and put it in the hands of other people. As a result many aspiring bosses pursue HR training to help them manage people better, as well as to better understand the laws and requirements that are needed to hire employees.
Make cutbacks
The growing income from your expanding business may have persuaded you to start spending more. However, you’ll now need to start cutting back. Hire an accountant to see how much money you will have left over once you take away wages and other costs such as Employer Liability Insurance. Look at that money you have left and consider whether you could viably live on that. You may have to consider reducing certain luxuries in your life. Remember that although hiring a new staff member may give you less money, it will also give you more free time.
Plan what to do with your free time
Now that you’re not working around the clock and that your employees can take some of the load off, what are you going to do with this free time? It may be worth not planning anything for the first couple weeks, so that you can train and monitor your new staff member and ensure that they’re going to stick with you. When you’re comfortable that your employee/s can run the ship without you, there are two options – either put your feet up and relax, or use that time to further grow your business.
Now that you’re earning less, why not spend the time finding more jobs to do yourself to make up that money and get back to the lifestyle you had before? If you end up rushed off your feet again, hire another staff member. This cycle is what will turn your business into an empire. Or you could put your feet up and relax.
