How to make the right first hires for your business
You’re an overwhelmed solopreneur. You’ve got too much on your to-do list.
You're ping-ponging between trying to build a social media presence, nurturing your email list, rewriting your website, posting on your blog, starting your podcast, and actually serving your clients.
Your attention has been pulled in a million directions and you're pretty sure that none of them are getting you closer to where you want to be.
You think, “I need help.” Now is the time to outsource some of what I’m doing to be able to grow my business and still have a life.”
Great! So…
How do you determine what the right hires are?
How do you bring them onto your team?
How do you determine if it makes financial sense for your business?
And if you determine now is NOT the right time to begin outsourcing, what can you do to get "over the hump" until you are ready?
Here’s the process I take my 1:1 business coaching clients through. It works.
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Determine the type of support your business needs in order to grow.
1. Back-Office or Administrative Support
Activities to help your business run internally
Shows up in your P&L under Operating Expenses
Examples include:
Business development support - researching & compiling a list of potential clients, conferences to attend, speaking engagements, media opportunities, etc.
Managing emails, calendar management
Sending contracts, sending invoices to clients, follow up on these activities Ordering supplies, booking travel, etc.
2. Digital Marketing Support
Marketing activities to grow your audience / attract your ideal client-customer
Shows up in your P&L under Operating Expenses
Examples include:
Creating original social media posts - graphics, captions
Repurposing content across chosen platforms - blog, newsletter, carousel posts, standalone posts, video, etc.
Creating meetings, roundtables, lives - all of the associated activities to make these happen
SEO for your website copy, blog posts, social media posts
Website updates
3. Client-Facing Talent / Resources
Client-facing support that you need in order to deliver excellent work-product for your clients
Shows up in your P&L under Cost of Goods Sold (cost of delivering the service to your client - your "goods")
This includes:
Expertise outside of your core competency to round out your services - all services delivered to your client through and invoiced by your business
Talent - team members to execute on your core competency to deliver your services
Assess the amount of support you need.
Based on the stage of your business, your business needs, and the type of support:
Is this part-time or full-time
If it's part-time, what are the estimated number of hours per week
Decide on the type of hire.
The big questions, no matter the type of hire...
Will this be a contractor (1099-based) or on payroll?
If it's not on payroll, will you sign on with an agency/business for the services or contract directly with the resource/talent
If you're contracting directly, make sure your agreements are in place
A part-time resource does not mean that it's a contractor - it could be a part-time, on-payroll position
1099 is most often the way to when making your first hire, however note:
The IRS and each state have definitions for Contractor and Employee (NB: the Department of Labor plans to make changes again in 2023)
If you think It Is someone you may want to bring on payroll at some point, I suggest you do that from the start (back taxes are a b-tch)
Go to your P&L.
Your P&L is your friend... what you should consider:
Know your current revenue, expenses, and net profit or loss
What is the cost of the planned hire on a monthly basis?
If on payroll, there are other expenses you will have to account for (payroll taxes and Insurance - WC and DBL/PFL are the big two)
What positive impact, if any, would there be on revenue?
Ability to take on more clients
Freeing up your time to do more business development
If there Is an initial hit to your P&L, what Is the amount of time you'll plan for until there Is a positive return on your investment?
Use processes & tools to "get you over the hump" if you’re not ready to hire at this time.
Processes to streamline your operations:
Try not to "touch things twice"
Create templates for repeatable communications and activities
Emails
Business documents
Social posts
Emails and blog posts
Use a project management tool
Use an online business management tool
Repurpose with purpose
Tools to use to manage your business:
Bookkeeping
Payroll & Paying Contractors
File Storage, Collaboration & Sharing
Project Management
Business management / CRM
Client Communications
Content Tools
Video editing & captions
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If this process leaves you thinking, “I need help!” let’s connect.
Book a Discovery Call to discuss how working with me can save you time and money and leave you feeling more confident about the next right steps to profitably grow your business.