How Hiring Can Actually Save You Money!
Business is a funny thing. For some people it can seem counterintuitive to spend money in order to make money. However, as a successful business owner myself, I’m here to tell you; Hiring team members is the number one way to take your business to the next level.
Sure, you COULD wait tables at your restaurant. Sure, you COULD do your own books. But just because you CAN do something, doesn’t mean you have to (or even should)! Hiring team members isn’t just spending money. It’s an investment. An investment means that you’re pouring money into something (or someone) with the understanding that the long-term benefits will be worth it.
So let’s chat about three reasons hiring can actually save you money in the long run…
1. Hiring the right people saves everyone time
More than likely you’ve heard the old saying, “Time is money.” There’s a reason it’s repeated around the world. It’s true! When you can find someone who is an expert in their field it’s a win-win. They’re doing what they love while getting paid. You’re offloading the things you don’t love while your business is getting the things it needs to grow.
Once you’ve hired a new team member, your valuable time can be spent in the parts of your business that you love. At the same time, you know the parts of your business you NEED (but don’t necessarily enjoy) are taken care of. When people are working within their ‘zones of genius’ (or areas they enjoy AND are good at), they can knock tasks out quickly. Accounting is a perfect example of this;
I HATE ‘doing my books’. It fills me with dread and even though it wouldn’t take me much time to complete my accounting, I procrastinate doing it. So, when I finally sit down to hash things out, I actually have 5 months of books to sort through vs. 3 months. NOW it’s going to take me even longer than before, but I get it done. Another 3 months goes by and I know it’s time to take care of my accounting responsibilities, but I remember how long it took me before so I procrastinate again and the vicious cycle continues. The crazy thing about all of that is. I could just hire someone who loves numbers and bookkeeping, and everyone’s better off for it.
2. Hiring brings in different perspectives
Forgive me. I’m going to throw another adage at you. “It takes all kinds of kinds.” Ever heard that one? Again, if you have – it’s because IT’S TRUE. Sometimes that saying is used with a more negative connotation. But, it really does take all types of people to make a business successful.
When you hire the right people, they can help you streamline processes. Or, even help you come up with new processes. Having a variety of people sitting at your proverbial table allows everyone to stay in an area they love, while bringing new, fresh ideas to your business. When those processes, workflows, and new ideas flow into your business so does money. PLUS, hiring the RIGHT people eventually will allow more money to come in, but less money to be spent as you and your team continually refine your workflows.
3. Productivity has increased!
I can’t help myself; “Time flies when you’re having fun.”
Have you ever sat down to work on a project you’re super excited about and before you know it, hours and hours have passed? THAT’S when you know you’ve found what you truly enjoy. When you can hire people who love what they do, they naturally do it more quickly and efficiently. The things that come easily to you? THOSE are the things you’ll be most productive doing. Because you’ll be more excited and efficient. To increase productivity, hang on to those things you love. Delegate those things you don’t. But make sure the people you’re delegating to love what they’re doing as well. That’s where the productivity magic happens.
I’d love to know; Do you have team members in your business currently? If so, what made you take the leap to hire them? If not, what’s holding you back when it comes to hiring? Thinking about hiring a new (or your first) team member but don’t even know where to begin? I’d love to chat more. Schedule a free, no obligation call with me today to see if my new VIP Day, Strategic Hiring package is right for you!
