Assessing When You Need Help
Business owners often struggle with knowing when to bring in help and how to do it — to the point where it's often a crisis that prompts the hiring process. It's better to handle the issue proactively, so that you have people in place before you hit that crisis point. But how can you tell when you need help?
How much is your time worth? It might be worth paying a professional such as a bookkeeper, payroll specialist, or accountant if they can do the task in less time than it would take you — especially if they might be more efficient at the task than you would be.
First, think about contingency planning. What would happen to the business if you were ill or called away on a family matter for several days? Could you close down for those days — and would you want to? If staying open is your priority, do you have someone you can call on to pinch-hit for you?
Now think about the natural volume of your business. Do you have peaks and valleys — and can you handle those peaks on your own? How about the business's growth rate — is it starting to outstrip your ability to handle it all yourself? You should also consider your skills and experience and any potential gaps in them. Hiring an expert could save you the learning curve involved and allow you to focus your energies on your own areas of expertise.
