ll archives: How Investing in Employees Can Help Your Business Grow
We know how it goes when you first start your business--you wear all of the hats. And that’s okay because it’s your business, it’s your baby, and no one will ever love your baby as much as you do, am I right, ladies? When you're a one-woman shop, you are the CEO, CFO, Director of Sales and Marketing, and Board of Directors—at least initially. After all, when you’re first starting out, your goal is to run a lean and mean operation. While you would love to hire someone to run your social media accounts so that you can focus on doing your actual job, it simply may not make financial sense at first.
However, since you’re such a badass and your business is something that your customers love, eventually you reach the point where your business' growth (or maybe your own personal sanity) may force you to seriously consider hiring outside help. As “CFO,” you probably know how pricey an employee can be. According to Entrepreneur, the cost of recruiting, hiring, and training an employee is four grand. Four. And that doesn’t even include their salary!
Okay, so we’ve established that adding an employee to your team can be ‘spensive, however, it can also be invaluable. When you add staff to take care of the necessary things that you are not passionate about or simply don’t have time for, you give yourself the time and energy to focus on the things that will take your business to the next level.
I read a quote from Seth Godin recently and it pretty much drives home the point for why an investment in employees can be the best thing for your business: "when you get rid of every job you do that could be done by someone else, something needs to fill your time. And what you discover is that you're imagining growth, building partnerships, rethinking the enterprise."
As an entrepreneur, you are innovative, bold, you take risks, and you believe that your product or service is valuable enough that it will benefit others—otherwise you wouldn’t pour your blood, sweat, and tears into it, right? So yes, there is a monetary investment associated with hiring staff to support you in other areas of your business—especially the areas that are not your strengths—but when you do, other areas of your business can prosper because you suddenly have more time to focus on them. The great common denominator for all mankind is time. We all only get 24 hours per day. That’s it. If you spent fewer of those hours doing things you either aren’t good at or just prefer not to do, imagine the things you could accomplish with your business! A stronger brand, partnerships with other businesses and organizations, deeper relationships with your customers, a stronger social media following, a diversified product line...ah, the possibilities!
If your goal is to take your business to the next level, don’t count out investing in (valuable) employee(s). When you consider the ways that more time and energy can open the door to creativity and ingenuity, it is well worth the investment.