There is a certain sense of accomplishment that comes with owning a business that has grown enough to need employees to get the work done. Of course, it can be difficult to give up some of the control over the process. However, when you can hire committed people to do great work, it adds an element to your success beyond your sales numbers.
As business continues to boom, you may start to wonder when you should add to your staff. Hiring people can be expensive if there isn’t sustainable revenue to support it, but you also don’t want to sacrifice growth because you don’t have the staff to support it.
Here are some signs that it is time to start collecting résumés.
Your current staff is overworked
Ideally you would be able to accurately predict how your business is going to do in the coming months and be able to have people hired and trained. Unfortunately, many businesses are not that predictable. Especially smaller businesses that are still in their early stages.
This might also be the time to evaluate your current processes to make sure your staff is working as efficiently as possible. The same methods that worked when you started may not be the same ones that can support your business today.
You’ve forgotten your dog’s name
It’s one thing to burn the candle at both ends while you are getting your business up and running, it’s another to try to keep that pace when you have the means to hire help. When it comes to adding to your staff, it is ok to be cautious, but you should also consider your own workload and how long you can keep it up.
You have an area for expansion
Your business started with one or two great ideas, but perhaps that has helped you see a need for something else. Or perhaps you had expansion in the back of your head all along. Either way, an area for expansion can be a sign that it is time to bring in more people to handle a new area.
When considering the expansion, think about your current staff and what they would bring to the table. Your current staff may be able to pioneer the growth; especially since they already understand your business.
You are turning down work
This is what you have been working for. You have so much work that your current staff is unable to handle everything. In an effort to maintain quality (and the sanity of your staff), you have had to turn people away because there is so much demand coming in the door.
This can be a tricky moment, however. Just because there is “too much” work now, does not mean that it will stay at that level. This is a good time to evaluate why business is up and whether it will stay that way.
Is it time?
Of course, the ultimate deciding factor will be whether the business can afford more staff. This is an evaluation that should consider your company’s current and predicted financial situation. Having a sound understanding of your business and its potential is critical to deciding whether to hire more people.