How do you know when it's time to hire people to help your business grow? That can be a very important question you need to know the answer to when growing a business. If you hire too early your profit suffers and if you hire too late your reputation does. For me, I have tried to involve myself in every aspect of my business including getting my hands dirty doing manual labor. I have tried to always operate with the minimal amount of employees to perform the work load and stay on schedule and under budget.
This last month has shown me an increase in the work load to the point that once again I have to hire more help or my companies reputation suffers and I do not forsee a slowdown in business happening anytime soon.
What does this all mean? It means several things, first and foremost it means that I am obviously doing something right. It also means that while other companies are struggling to stay afloat, I am struggling to stay caught up. Between being on the job sites insuring the work is done to company standards and handling the majority of the administration work such as payroll and billing of clients, I am wearing myself down. This is a very good indicator of the need to hire more people.
As business owners we have to be prepared to recognize fluctuations in business for what they are, some are seasonal and will go away almost as fast as they appear based upon the business service or product while others are more stable and apt to hang around longer. Only time and experience will help you learn the difference but once you do, you will know when it is time to hire and when it is not.
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