A little while back, Erik got a phone call from a previous business associate. This individual shared a workspace with Erik about five years ago, where they discussed their businesses, ideas, and strategies on how to grow their companies. In episode 241 of Journey to $100 MIllion, listen in to see what advice Erik gave to this individual.
Erik received the call because this individual found a really good employee after having experimented with numerous employees recently. After realizing how good of an employee she hired, she called Erik for advice on whether or not to extend this employee’s hours from only ten a week. Once Erik found out she could afford to pay this employee and needed the employee to meet her work demand, Erik advised to double her employee’s hours.
From Erik’s experience, when he got a full-time developer, not only did his supply double, but the demand increased as well. Instead of saying “I can do this work,” he would say “we could do this work.” It changed the dynamic of the conversation, and word got out that his company was growing.
Hiring employees is a scary process. But, when you balance that off of the potential inability to do the work without that person, and not being able to grow, it becomes an easy decision. It should not just be a question of if you can afford the employee, but can you afford not to have the employee!