What is a sign that it’s time for you to bring on a manager to help with your growing staff so that you can continue to focus on growing your business plan?
The following answers are provided by members of Young Entrepreneur Council (YEC), an invite-only organization comprised of the world’s most promising young entrepreneurs. In partnership with Citi, YEC recently launched BusinessCollective, a free virtual mentorship program that helps millions of entrepreneurs start and grow businesses.
1. You’re Losing Sales
It’s easy to fall into the trap of thinking that you can’t afford to hire a manager or key person to help your growth as an early stage company. The question you need to ask is, “Can I afford not to hire this person?” We faced the same issue, and I’m glad we hired before we could “afford” the person. It freed me to focus on closing the big deals that fueled our growth.
2. Your Company Has 10 Employees
Once you hit 10 employees it’s time to hire an HR or office manager, especially if you intend to focus your time exclusively on customer growth. Having built and scaled multiple companies, I’ve found that transitioning responsibility too early is shortsighted because it can drain resources during a critical time. But when the time is right, take action and don’t look back.
3. You’re in too Deep
When I’ve spent more than two hours a day just going over an issue with a staffer, it’s time to get another person to take over. If the business is going well, the number of employees will continue to grow, and so will administrative needs. You need to get a manager before it all gets to be overwhelming and you are troubleshooting managerial issues all day long.
4. Onboarding Becomes Cumbersome
As a company grows, it is crucial that you develop useful employee onboarding materials so new hires can familiarize themselves with brand values, how the company operates and who their coworkers are. At a certain point, simply introducing new hires to their deskmate is not enough, and you will need to recruit someone to manage all HR-related concerns and create a cohesive work environment.
5. You’re Spending too Much Time on Minutia
As a founder, CEO or upper-level management, your time should be devoted to “big picture” tasks that help grow the company, such as sales, marketing, reputation marketing, PR and creating partnerships. If you find yourself spending too much time on deliverables, managing employees, and in the day-to-day running of the company, it’s time to bring in someone to help at the HR/management level.
6. You’re Not Doing What You’re Best At
There always comes a point when you cannot grow any longer without additional help. I always looked at it in terms of what am I really good at and if I am spending the majority of my time not doing that then it is time to bring someone else on to help. If you find yourself with little time to do the things you know well that will drive the company forward, it is time to bring on a manager.
7. You Can Afford to Pay for the Manager
When I started my company, I did the project management with my developer. As we grew in volume and I could afford, I hired my first project manager and kept on adding more PMs as we grew. I did not hire a manager in anticipation of the growth. I hired only when we had critical volume and business could afford to pay to a PM. When you hire a manager, you still have to spend time with your manager and staff.
8. You’re Losing the Big Picture
An owner needs to realize that their plate should be focused on growing the business and overseeing the big picture initiatives. The second your plate is full of daily tasks that push the bigger picture tasks to the back burner, means it’s time to hire a manager to take on the daily tasks to refocus on expanding your brand and services.
9. You Start Sacrificing Your Weekends
The key moment for me was when I realized my business was eating into my personal life. A weekend here and there is normal, but when it starts becoming too frequent, it’s a sign you need help. Your business is producing but it is eating away at your personal time. You need to be healthy and rested for your business. Bringing on help is more valuable than what it might seem.
10. You’re Getting Sick
You’re an entrepreneur – everyone thinks it’s OK to work 20 hours a day! But that’s not sustainable. There’s no way anyone can do that and still be in good shape. When you see that health is already compromised, it’s time to hire a manager. Prioritize your health because, without it, you won’t be able to create wealth, can’t enjoy that wealth, and you’ll just see yourself crying for what is “left.”