If you think it's time for your small business to grow, carefully assess the circumstances and your options.
How to know you need employees
To determine if it's really time for you to grow, check to see if your situation matches any of the following.
1. You are turning customers away because you are busy
This can happen if you have several regular customers who take a lot of time, or there is always a large flow of new requests. You would be happy to fulfill all the orders, but there is not enough time. You have to put clients in a queue at first, and then turn them down when it gets too long.
2. By doing all the tasks yourself, you sacrifice quality
Let's take the creation of websites as an example: if the only specialist works on all the stages, he needs to meet with the client, and prepare the layout, and the guts to program. Not always a good developer will also be an excellent designer and vice versa. It would be more correct to divide responsibilities.
3. The project completion rate is much lower than the client's expectations and the market average
If you have several specialists covering the same tasks, it is obvious that the company will be able to cope with more orders. And if a project is divided into phases, and a responsible employee is assigned to each phase, you can handle several projects in parallel or several phases at the same time. In this way, you will reduce the total time needed to complete an order.
4. You understand enough about your business to supervise in a qualified manner
Once you have employees, you will have to answer for them: to clients for the quality and time of tasks, and to the employees themselves for the comfort of being in the office and paying them on time.
5. You're tired of the craft and you're ready to lead
As long as you are alone, you won't be able to scale the business and seriously increase turnover.
6. You have a financial reserve
Calculate how much money you have left over after your paychecks are paid. For example, you use the Profit and Loss Statement Template, and the numbers are very promising. If enough to live comfortably, you can afford the employees, and if not, you'll have to save up. Otherwise, the firm will support itself, but not you.
7. You would like to spend the time you have freed up to develop your business
You know how to improve your life's work, but you don't have the time or energy to plan strategically.
How to calculate how many employees you need?
We're talking primarily about the team that works on one project. If you had one store, and you're opening a chain, it's obvious that you need to have a salesperson in each store or even more than one.