I work with a lot of small business owners who are hiring for the first time in their business. They often have a lot of the same questions and concerns:
- Am I really ready to hire help?
- Who should I hire first and how much is it actually going to cost me?
- Where do I even start? I’ve never hired anyone before.
And recently, I received the following message from someone thinking about hiring a bit of help:
“I’m struggling with the idea of hiring. I feel like I’ll go broke! How do you know when you need to hire a little help? And is it really worth it in the end?”
Those are some pretty powerful questions! And I promise you this person isn’t alone in thinking any of these thoughts.
Hiring someone to help you in your business is a big decision that shouldn’t be made lightly. Which is why I’ve written about some of these common questions and fears before.
- If you’re wondering whether it’s the right time to hire someone in your business, check out How to Know When to Grow Your Team, a guest blog post I wrote for Reina + Co.
- If you’re struggling with a lot of doubts and fears around hiring, be sure to read How to Overcome 5 Common Fears About Hiring that I wrote for Lauren Carns Design + Creative.
I fully believe in putting something new you’ve learned to use right away, so both of these articles are chock full of simple, actionable steps you can take right away!
Today, however, I want to focus on the last question in the comment above: “Is it really worth it in the end?“
Is Hiring Really Worth It In the End?
The (Super) Short Answer: YES!!
Hiring someone for your team can absolutely be worth it. If you hire the right person for the job! Which is why I love this quote from Malcom Forbes (of the famed business company, Forbes):
“Never hire someone who knows less than you do about what he’s hired to do.” Malcolm Forbes
I know that statement can feel a bit contradictory at first. A lot of people have told me, “But, I thought I was supposed to be the expert?” Or they’ve felt like hiring someone smarter or better than they are would lead to that person trying to hi-jack their business. But that’s not really the case.
A great leader knows she must surround herself with great people. And about the whole “hi-jacking” their business bit, not everyone wants to be an entrepreneur, soooo…yeah. That’s not very likely to happen.
Hiring the right person can help you do several things in your business, but should always help you save time and money. So that’s what we’re going to focus on today.
How Hiring the Right Person Saves You Time
When you hire the right person, they can save you time. And lots of it!
A person who’s more skilled in an area than you are will be able to:
- streamline processes,
- accomplish tasks more quickly, and
- see breakdowns in your processes, which means they’ll be able to help create efficiencies in your business.
These skills can be invaluable! Especially to a small business who has limited time and resources.
Let me give you an example:
Take blogging for instance. If you have a post that’s fully written and edited, but you still need to upload it to your blog it may take you two hours to format it properly for your blog site, enter in all the keywords, make sure the SEO is on-point, include all the proper tags, create and upload the graphics and then publish the post. Then there’s the promoting of the post, otherwise all your hard work is for naught.
If you hire someone who’s more skilled in this area than you, it may only take them 30 minutes to complete all of these tasks. This person may have a certain process or system in place that they’ve developed to save time or they may just have a better understanding of how all the pieces fit together. Either way, they’ve just trimmed 1.5 hours off of the process for you. Which means you paid them for only 30 minutes worth of work that was taking 2 hours of your time away from your business.
And if they’re helping you save time, then coincidentally they’re also helping you save money – because, as the old saying goes, “Time is money!” So, let’s take a look at how that works next.
How Hiring the Right Person Saves You Money
In business school, one of the very first things they teach you is that the number one reason anyone starts a business is to make money. (Non-profits being a totally different concept, of course!)
Which means, if a business isn’t making money, then it’s not viable and can’t sustain for the long run. (Not good!)
We talk about and hear other business owners giving a variety of reasons for why they started and/or continue to run their businesses, but the bottom line is that if any of us didn’t eventually turn a profit, then none of us would be in business for long.
So what does “time is money” mean?
When we hire someone who is better at performing a task than we are, they’ll often complete the task in less time, like in the example above. Meaning, we save time in our business in two ways:
- We’re no longer spending 2 hours performing the tasks that we’ve delegated.
- The person we hired is not taking 2 hours to perform the tasks we’ve delegated.
The time that we’re not spending on tasks we’re not very good at (or don’t enjoy doing), is automatically added back into our “time bank account” for the week…and the year. And, you’re only paying someone for 30 minutes of time for a task that used to take you 2 hours to complete.
So what does that actually mean for your business? Let’s talk about all these concepts together now.
What Could You Do In 96 Hours?
I’m going to run through the whole example now, so you can see the full picture and how all the pieces work together.
You’ve decided to outsource blog formatting and publishing. It’s been taking you on average about 2 hours per week to perform these tasks. The person you’ve hired (who knows more and is better at performing these tasks than you are) has said she can do the tasks in just 30 minutes per week.
Since you’re no longer performing the tasks yourself, you now have 2 hours to add back into your business each week. And you’re only paying the person you hired to perform the tasks for 30 minutes worth of work each week.
Now, let’s say you work 48 weeks per year (taking 4 weeks off for vacation). If you multiply 2 hours per week times the 48 weeks you work in a year, that equates to 96 HOURS you can invest directly back into your business. Simply because you outsourced this one set of tasks.
That’s 96 hours LESS of tasks you don’t enjoy, that you’re probably not the best at doing, or that you really don’t need to be doing (because you have other more pressing matters to handle).
What could you do with an extra 96 hours per year?
- all those big projects you want to accomplish.
- how many more clients you could serve in those 96 hours.
- the next phase of your business growth you’ve been dreaming about…but don’t have the “time” to invest in making it happen.
Just think about what you could accomplish with an extra 96 HOURS this year…
Let me ask you one final question…
Can you really afford NOT to hire someone?
Action Item: This week, think about the tasks that are eating up tons of your time or that you simply don’t enjoy doing. What can you outsource and how many hours per year could you invest back into your business? I’d love to hear what you come up with, so email me your answers!!
Happy Sprouting! 🌱
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