Hiring a first team member or expanding your team can bring a boost to your revenue and help you make more money ongoing. But the decision to hire takes time and processing.
In my work as a business strategist, I help entrepreneurs examine what’s working and what isn’t working in their business and I help them create a strategy going forward. One of the most common problems uncovered was the need for a team to support them to run their business more smoothly and more profitably.
How You Know It’s Time to Hire or Build a Team
While many entrepreneurs know they may some day need a team, when to start the process may be a bit of an unknown. Often, when people are not making as much money as they desire they don’t want to consider adding the expense of team. This time, however, can be exactly the right time to invest in a team for a greater return in your business. So, how is a business owner to know?
Four Red Flags to Start Building Your Team
There are some common red flags in businesses that need to hire or expand a team. When you know what to look for and how to examine the issues, it’s easier to make a plan about moving forward. Consider each of these common scenarios as they relate to your business:
- Time Management– He can’t do it all and is under the weight of a huge to-do list. He doesn’t have enough time in his day/week to work ON his business so he’s “stuck” building a business that is solely reliant on him to produce all the work … not leaving time (or energy) to increase his client base, and hence, bottom line.
- Work-Life balance– He’s trying to do it all, and realizing he simply can’t, yet doesn’t have a plan of action to bring more balance to his day … putting the one thing he’s seeking on the back burner (balance) while he’s putting out fires.
- Needing to increase profit, but not enough time in the day to do all the work already on her plate AND do the extra needed to bring her business to the next level. So she stays doing the same thing hoping for different results.
- Not having the “right” clients– This business owner is looking to up her game and work with more luxury clients but needs more time and money to attract said clients. Unfortunately she’s working so hard IN her business that she has no time left over at the end of the day, week, month or quarter to invest what is needed to up-level her game and attract the high-end clients she’s looking to work with. She wants to add to her team, and knows she needs to, yet she says she doesn’t have the time to onboard and train a new team member.
Do any of these sound familiar to you? Have you experienced one, or perhaps all, of these scenarios at different stages of your business growth?
The Decision to Hire a Team
I know I’ve experienced each of the four red flags at different points over the 27-years I’ve been an entrepreneur. Not a fun place to be stuck spinning your wheels. I found a way out in the way of a team of support and it’s a way for you, too.
As we scale our business, taking it to the next level, we need to achieve more without doing more.
To do this, we need to start offloading some of the spinning plates we’re fighting to keep in the air so we can focus on GROWING our business … and start to gain our life back.
When the business is reliant on you to produce all (or a majority of) the work, it leaves no time to work ON your business … if you’re the one selling, building, and delivering the widgets, who’s doing the work to GROW the business?
Building an effective team is what will support you to, produce more without doing more. This is what I’ve done in my business and I’ve helped my clients to do the same.
How to Get Started with Building a Team
Here are 3 steps to building a team so you can start handing off a few of those spinning plates you’ve been balancing so delicately:
- Clarity: Get clear on what the position is you’re filling. What are the specific activities you need this person to do? Which position would give you the most amount of time back so that you can regain some much needed joy in your day AND allow you to focus on growing your business? What is it that you do repetitively that you could start systematizing and hand off to a new hire?
- Character: Hire on attitude not aptitude…someone could look like a perfect fit on paper, but if they don’t fit the culture, the environment, of your business, it simply won’t be a good fit. It’s easy to work with a new team member that has a positive attitude, but it’s nearly impossible to teach someone how to play nicely in the sandbox if it’s not in their nature.
- Communicate: Share your vision for your company with your team. Communicate where your business is going, and growing to … and why. Letting your team know your vision and inviting them to participate in it helps them to not only feel successful but to be successful. A successful team creates a successful business. A win-win in my book!
Is It Time for You to Build a Team?
When time management and productivity isn’t enough to accomplish all you need to get done in your business, it may be time to consider hiring a team member or expanding your existing team. Be sure you take stock of your current state of your business to determine the right path for you and to find the right people to join your team. If I can support you to determine if it’s time for you to hire and to help you through the process, please reach out here.
I’d love to hear from you. Do you share your vision with your team members? How do you best communicate with your team? Comment below and let’s start the conversation.