A Simple Way To Determine Your First Hire Within Your Small Biz!
Do you have plans to grow your team?
But then some thoughts creep in…
Can I afford them?
How many hours do I need…40?!
WTF would they actually do?
This was something I worked with a past client on and guess where we started…yes, a brain 👏🏻 dump 👏🏻
The same style as I talked about before with your pricing but it this one has so many benefits.
Insert one of the 6 Brain Dump formats: Breaking Down Your Services
My client was a solopreneur running a marketing company with the goal of growing into an agency. Her big pain point was knowing what a new hire would do, how many hours that role would take, and what could she afford.
We opened a google sheet and took her main offering and listed out every single step. I’m talking every single step. From the potential client inquiring about working with her to sending a thank you card.
The next column we created was for the amount of time each task took. And at the bottom of that column, we added up the total time. This allowed her to affirm that she was charging enough for her services.
Then she went through and highlighted the tasks that she didn’t really want to do or that wasn’t necessarily worth her hourly/project rate.
Looking through those tasks she was able to see a clear job description ☑️
Looking through the amount of time she allotted for each task she was able to see how many hours per project she’d need them. ☑️
We then looked at her income goal, how many projects she could handle at one time, and adjusted the margin of her projects based on her hourly rate and the hourly rate of her potential hire…
She could then see what her new profit margin could be.
I won’t say all of this made it a black and white situation (nor am I a bookkeeper or CPA) - but she was now equipped with a lot more details and numbers to make a solid decision for when she was ready to make the decision.
And to end in a fairy tale way…she did hire someone and it’s been amazing!
Fun huh?
How did you determine your first hire?!
PS: If you’re looking for a more step-by-step way to go through this process with the why, the how, and templates…my next Master Class is 8/22 and it’s all in there!