“Is it the right time for me to hire?” I get that question a lot. Usually from small business owners who know that they need to hire someone in order to expand their business or free up their time to work on the important stuff, but don’t have the time to hire. It’s a catch 22 - I need to hire to free up my time, but I need to free up my time to find the time to hire.
The reality is - there’s never a perfect moment to hire, especially when your time is limited. The hire comes before your time frees up. However, there are some clear signals that can tell you if it’s time to hire now.
After more than 15 years of hiring staff for small businesses, I’ve identified four critical indicators that clearly show that it’s time to hire. If you’re experiencing one or more of these, then it might be go time.
1. You’re hitting a business growth limit
Think of your business like a pipeline.
Marketing - new potential customers find you
Sales - Potential customers turn into actual customers
Delivery - Customers receive your offering
Resale - Customers come back for more
Peripheral functions - admin, customer support, tech, legal, finance.
If there’s a significant block in any one of these areas, it can block the entire pipeline. Maybe you’re ready to help more people, but you aren’t getting new customers - there’s a block in your marketing. Maybe you’ve nailed marketing and sales, but you simply don’t have the capacity to deliver. Or your admin is a mess and it’s slowing everything down. If there’s a block in any segment, then it’s possible that you need to hire someone to help
You can choose to learn the new skills yourself — but that takes even more of your time and your mental bandwidth. At some point, you need to start handing things over to people who have special skills, in order to unblock the natural growth of the business.
2. You’re spending three or more hours a week on repeatable tasks
Three hours a week might not sound like much, but multiply that across a year and you’re looking at 150 hours spent on tasks that someone else could be doing. That’s a whole month of 35 hour work weeks!
Tasks that are repetitive and routine are the low-hanging fruit of delegation and outsourcing — they’re easy to hand off, and can enable you to reclaim a huge chunk of your time.
Once you’ve reclaimed your time, you can use those hours to serve more clients, think strategically, or simply rest. When you live like this, you go from being an employee in your business to being a real business owner - working on your business, instead of just in your business. In my experience, this is one of the most important keys to creating businesses that are really financially successful.
3. You’re turning down opportunities
This one’s a strong indicator. If people are reaching out to work with you and you’re saying no because you don’t have the bandwidth, then you’re leaving money on the table. Hiring a new team member can free up your time to serve more customers.
4. You’re overworking
If you don’t have enough time to rest or do the things that bring you joy, that’s your body and your business telling you something needs to change. Burnout doesn’t help anyone — not you, not your clients, not the vision you’re working towards. Hiring a team member can buy back the precious hours to really enjoy life and nurture yourself.
If you see yourself in one or more of these 4 descriptions, that’s a strong indicator that it’s time to hire. However, there are 2 factors that need to be in place first.
The desire and capacity to grow. There are seasons for resting on your laurels, and seasons for aspiring for more - more clients, more impact, more income. Check in honestly with yourself: How could bringing on a new team member improve your life or the life of your family? How much time could it free up for you? What could you do with that time? Is it finally the season to invest in your business, so that you can reap these rewards?
Cash. You need enough capital, or cashflow, to pay for your new team member. Or you need to have good reason to predict that the new team member will enable your business to bring in a good amount of cashflow to justify the investment. For example, a marketing content creator, for five hours a week at $15 an hour - that’s roughly $75 a week. If that content brings in one or more new clients, and over $75 / week, then it’s going to be a profitable investment.
Still unsure? I get it. It can be a tricky one. If you’d like, we can have a free, straight-forward conversation to work out whether it’s the right time for you to hire.
We’ve helped dozens of small businesses to hire high-quality, dedicated staff, without the stress and guesswork of doing it yourself. I’m not afraid to be open with you - if I think it’s not time for you to hire, I’ll tell you straight up.
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