Small businesses and freelancing are growing more popular with time. With online and social media marketing, it’s easy to set up a business and be your own boss. This is why you see more people turning to entrepreneurship and be all the happier for it.
However, there comes a time when a self-employed individual feels the need to expand their business. Some businesses may have at least one employee from the very beginning, but there are several that have to consider hiring for the first time. Employing another individual requires commitment, risk and fixed costs.
Here we’ve rounded up signs that will help you decide whether or not it’s time for you to hire your first employee:
1. Work is Overwhelming
If you’re getting a lot of business, it’s a pity to turn some of it away just because you don’t have the time and energy. Hiring another person could potentially increase your revenue multifold along with breathing new life into the system.
Turning away orders or customers doesn’t have to mean that you require extra help. It helps, however, to see just how you feel when you have to turn away clients. If you’re fine with this, then it is okay. If you feel bad, guilty or worried about losing business, you should seriously consider your first hire.
You’ll have to think about the kind of employee you need for your line of work. If you just have a large temporary project, consider hiring a contractor or a part-time employee. Hiring full time isn’t always the way to go. You can always offer your part-time worker longer hours or a full-time position if things work out.
2. No Time for Research and Development
Even the smallest companies should have some time and budget devoted to research and development. This department is what allows a company to grow outside of its everyday operations. You may have no time to seek out and attract new customers because you’re too busy with the existing ones.
To find out if you need to hire an employee in such a case, make a list of the things you can safely delegate to someone else. Once your mind is free from mundane and simple tasks, you can set challenges for yourself and brainstorm your company to new levels!
3. Decline in Customer Satisfaction
If you are a tiny business and are working for yourself, you probably have a very special relationship with your customers. Customer loyalty is one of the factors that give an edge to small businesses over large ones. Once you get busy, however, you may not have enough time for that personalized service your clients have grown to love. This may lead to customer dissatisfaction and a gradual trickling away of your consumer base.
Before this happens, you may want to free yourself up. Hire an employee who understands the importance of customer service, and set a good example for them. Such an action would also be a potential lifesaver for your company, as unhappy customers can now do some pretty hard damage if they want. With review sites like Yelp and a comments section on every social media platform, you don’t want customers airing their grievances online.
When you stay alert to the ins and outs of your work and the market for it, you can easily detect the time for hiring your first employee. Given that you’re able to handle all the costs and can find a suitable person, hiring a new employee is a positive step. If nothing else, every hard worker like yourself should be able to take a break every now and then!
Meet the Author: Jenna Burton
Jenna Burton is an Academic Expert, Researcher and an Academic Writer. She also renders professional academic consultancy services to students who want to buy dissertation uk. She is a sport freak and plays all kinds of sports.