Home business entrepreneurs are reluctant to hire new employees for a number of reasons. Some have limited office space. Others find the hiring process to be painstaking. Where do you find competent employees? How do you screen and interview job applicants? Others do not want to pay the extra expenses associated with bringing someone new on board, such as health insurance and worker’s compensation. Still, others think they can handle additional work all by themselves.
The reasons not to hire are legitimate. Hiring help is costly and a risky investment. There are definitive limits, however, to a business’ growth as a one-person operation. To expand your home business, start off by hiring one part-time employee. If you need more help, convert the part-time position into a full-time position. Depending on your budget and office space, hire additional employees until it is no a longer profitable investment. WHEN IS THE RIGHT TIME TO HIRE HELP? It is the right time to hire help when you can no longer keep up with your business’ current rate of growth. Key indicators of this condition are:
You are unable to balance the demands of your professional life with the demands of your personal life. You experience difficulty in meeting deadlines. You are lacking in a certain expertise, such as bookkeeping or advertising. Your health is adversely affected by your workload. Your relationships with family members and friends are strained. You frequently hire independent contractors to complete certain tasks. You repetitively turn down work which you cannot handle. You are preoccupied with menial tasks, such as typing and answering phones.
Hiring the right person, at the right time, expands your business operations and satisfies your growing customer base.