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Initially, startups operate on a small budget. The average entrepreneur dons many hats from the outset. If you have started a business or are planning to start one, you will be aware of the amount work necessary in order to be successful. Entrepreneurs often find themselves wishing there are more than 24 hours in a day, so they can get everything done. Sooner or later, there will come a time when you realize that hiring employees is likely you’re best option. This typically comes when you start to find it difficult to manage the work on your own, or perhaps your revenue has increased to a point where you can afford to bring more people on your team.
Regardless of your team, you are likely to experience the feelings that virtually every entrepreneur faces when hiring the first employees: fear. Hiring employees and bringing people on board, when done properly, means relinquishing some level of control. This is one reason why entrepreneurs are reluctant to hire people; they feel they are the only ones who can provide the quality their customers expect. However, at the end of the day, micromanagement is ineffective in the long run and there is only so much that you can do by yourself, depending on the nature of your business.
So, how can you make the transition smoothly? First, gain and understanding of the fact that your business can run even when you aren’t around. As your business grows, you will be required to make time for tasks that are not related to the core operations of your business. For instance, you’ll want to focus on setting up marketing and delivery channels and you might also choose to arrange the necessary capital to take your business to the next level. Therefore, you’ll be detaching yourself from the business to a certain extent, but with the peace of mind that nothing will go wrong because your staff is taking care of it.
Here are some tips you can follow to transition from operating solo to hiring employees:
Document the Processes
Training and education is crucial for the first few employees. You don’t want to simply explain their roles to them, you also want to explain the way you have run the business when there wasn’t anyone else around. For this, it is important that you document the processes you follow for getting work done from the outset. It’s important to provide training material and resources that your employees can then refer to. Create a manual or a guidebook that your new employees will leaf through on their first day at work, as part of the orientation program.
This will help you get them started on the right foot. They will be aware of the way you run your business and in some time, they will reach the level you expect them to. It is important that your employees are on the same bandwidth as you for you to be able to detach yourself from the business.
Create the Culture You Want
Hiring the employees is within your remit. You are in control of the hiring process, so it is important that you bring people on board who you think will suit your business the best. There will be some level of gut instinct involved; it’s still vital to vet people and ensure they are willing to go the extra mile and are reliable candidates. Especially as a startup, having employees that are truly in it with you is invaluable.
Keep in mind that the work culture will come from you. Be a role model for your employees and they will follow suit. Don’t ask them to do anything that you yourself won’t do.
If you are not a fan of delegation, you want to at least automate some of the tasks that are menial or repetitive. After all, we are in 2017 and there is a tool or an app for virtually every task. Search for the right tools and software and automate some of the processes. This way, you won’t be overburdening your employees and they will be able to focus on their work. There are several tasks that you can take online and reduce your workload, as recommended by Baggeta & Co.
Plan Your Finances
Last, but certainly not the least, you’ll want to do some financial planning. When you bring employees on board, your expenses and overheads will increase. You’ll be disbursing salaries and providing them the necessary amenities and facilities at the workplace. Plus, with more people on your team, you can take on more projects. Hence, managing your finances could be a distraction. You definitely don’t want to burden yourself with planning your finances on a day to day basis. Research and find reputable financial planners and accountants; with business planning/advising experience.