Signs it’s time to hire your first employee

If 40-hour workweeks and weekend off seem like a thing of the past, it may be time to hire an extra set of hands around your office. While it takes time and dedication to find the right employee for you, hiring a contractor or professional with the skills you need can be a great way to free you up to grow your business. However, whether they work full time or only do a few projects for you, it’s important to remember that taking on another employee may not be right for every business at every stage. Make sure your income is consistent enough to hire a new employee, and that the work they do will ultimately allow you to grow.

Aside from needing the help, to ensure bringing someone new on the team is right for you, make sure you have work that makes sense for them. You should be able to sit down and write a job description that includes all their duties. While it may be tempting to hire someone just to “help out wherever needed,” this approach can lead to role confusion, and leave your new hire without work to do on some days. With a concrete list of duties, you’ll help yourself and your hire work more efficiently.

Next, take a look at your revenue stream over the last year. Make sure that you bring in enough consistently to hire a new employee. If you aren’t sure you can afford to hire someone, bringing on a temporary hire or contractor is another great option for the short-term. When writing your job description, think about how the tasks you are assigning to the hire will help generate income. Running for your coffee won’t help generate as much income as if they’re going to be completing a few projects from clients. Whether for the long term or the short, make sure your finances are in order before signing any contracts.

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Finally, prepare yourself as a boss and leader. Whether this is the first bit of help you’ll be paying for, or you already have a team of successful employees, take some time to assess yourself. It takes practice and empathy to manage others effectively. Writing their job description is the first step toward helping them succeed in the role, but you should also be prepared to answer questions and get to know them as a professional.

For a quick summary of the signs it’s time to hire your first employee, check out this infographic by Fundera:

Meredith Wood

Meredith Wood
Meredith is Editor-in-Chief at Fundera. Specializing in financial advice for small business owners, Meredith is a current and past contributor to Yahoo!, Amex OPEN Forum, Fox Business, SCORE, AllBusiness and more.

Meredith Wood

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