I’m working at least 14 hour / day. I’m conducting research. I’m finding new clients. I’m responding to email – A LOT of email. When it’s time to make money, I’m the one who stands in front of the audience and speaks. It is an exhausting process!
One day I analyzed the most time consuming aspect of my business: finding and qualifying new clients. This process involves: social media posts, email marketing, video shoots, strategy and planning, online research and a healthy desire to close deals. I need help!
I spoke to a friend of mine who runs a successful software start up and asked him how he knew it was time to hire his first employee. He said, “When I realized I was the one slowing down the business, I decided to hire someone.” Being right out of college and strapped for cash, he initially thought he could do it all himself. When he realized he couldn’t, he set very wise limits to his hiring process. “I decided I would bring someone on board for a period of 6 months. If sales grew to a point where the company could survive, I would keep going. However, after that 6 months, if revenue did not increase substantially, I’d be out of cash. That’s how I’d know it was time to quit the business.” Wiser words have never been spoken. How will you know it’s time to hire your first employee?
- You Can’t Do It All – Similar to my friend, I realized I can’t do marketing, sales, business development, human resources, research, design and administration. I started by outsourcing the things I’m not good at (graphic design). Then I hired for the the aspects of the company that could be designed as a process (lead generation, qualification). My job is to manage “all of the moving parts.”
- Problems Arise – This situation is the worst to be in. If clients start to complain, deadlines are missed or errors are frequently occurring in your work, bring someone on to help with some aspect of the business. You may need help with managing your email, calendar or professional contacts. Virtual assistants can be a great help at a relatively low cost. Hire someone before problems affect your clients’ needs.
- You See Potential – As I noticed market potential in various industries for my company (e.g. – education, social media, real estate, active adults, etc.), I realized my real job was to manage a talented team of people who could help with this process. Other areas are begging for our help everyday. A team could help me meet those needs…and drive revenue.
I recently hired two interns to help me drive my business development efforts, and I love it! Having trained them for the early aspects of lead generation, I am free to do more client services and closing. I’m also starting projects I put off for the last two years! I can finally focus more of my efforts on building relationships and expanding the business. Management is fun; revenue is even better.
Scientifically Speaking, of course.