The BizFilings blog covering business tips and trends.
How Hiring Employees can Actually Save You Money
Published on Sep 26, 2012
Read our article, 'How Hiring Employees can Actually Save You Money' at 'Time to Start Up,' the small business blog by BizFilings.
By Matthew Toren
You’ve become a machine at calculating costs and earnings. You know how to drive down expenses and you’re always on the lookout for efficiency. It may seem strange to start paying people to perform tasks you’re able to do yourself. In fact, you may be accustomed to doing everything, everyday. Don’t knock yourself down thinking you’re taking a loss by hiring out. Taking on new employees is an essential part of most any growing business. There’s a reason why everybody does it: It works. And in the long run, it saves you money.
Take a minute to digest what this really means. If you find that you’re getting so much work that it’s not practical or valuable to do everything yourself, you’re well on your way to a successful business. Don’t have any negative feelings about lightening your workload. Take pride in the fact that you’re expanding. Hopefully, you’ve already been actively networking, and you have resources available to start finding great employees. You should feel excited.
Specialists Save Time
Just because you can do everything, doesn’t mean you’re the best at it. Even if you’ve started from the bottom, handling any specific task that came your way, there may be an expert out there that focuses on an area that you can’t seem to get done quickly. Let people do what they do best and let them do it for you. If you find the right employees, you will not only be rewarded with great work, but also with tons of valuable time to utilize yourself.
It’s the Only Way to Grow
Even if you want to do everything yourself, you really don’t have a choice. Can you imagine Starbucks without any employees? Can you even imagine a small donut shop down the road with only one clerk? Even the captain of a pirate ship has a crew. Unless you’re comfortable where you are, you’re going to have to get some other heads in the game if you want to keep climbing upward.
Remember Why You Started
Sure, you may be turning a profit. But did you start your business so that you could devote endless hours to repetitive work? If you could take your time and apply it elsewhere, your business could experience even further success. You have to give yourself room to breathe in order to make great decisions. Don’t make the mistake of standing in your own way.
Hire Carefully but Not Robotically
Make your first experiences with hiring employees a positive one. Don’t wait until it’s too late to frantically search for an employee. Have some ideas brewing ahead of time. Ask people you respect in the field for referrals. Go with someone you know if she does good work. Post an ad in a location targeted to the kinds of people you’d like to hire. You want a qualified employee, but don’t be too stern. You may just find the person you’ve been looking for where you least expect it.
Matthew Toren is a serial entrepreneur, mentor, investor and co-founder of YoungEntrepreneur.com. He is co-author, with his brother Adam, of the award winning books, Kidpreneurs and Small Business, BIG Vision: Lessons on How to Dominate Your Market from Self-Made Entrepreneurs Who Did it Right. Their latest project is a free classified ads network called: iSell.com.