There are a handful of days in each of our lives that we won’t forget. For a solopreneur, the day you hire your first employee is likely one of them. When I founded Kane Communications Group in 2013, I wasn’t sure I wanted employees. I launched my firm to provide strategic PR and marketing counsel to c-suite leaders. By 2015, Kane had grown to the point where I faced a choice: start turning clients away or start hiring. This was a crossroads for me. That first hire not only changes your business, it changes your life.
Below are a few questions to help you decide if it’s time to hire.
Capacity: Do you have the capacity to get high quality work done, on deadline, without consistently working burnout hours?
Skillset: As your business grows, do you have the variety of skills needed to deliver your product or service?
Outsourced support: How does outsourcing or using freelancers impact your profitability? Freelancers can cost more than an employee over time and they may not be as committed to your success.
Personal goals: What kind of life do you want? Do you want to be responsible for others or have the flexibility that can come with being a solopreneur?
I lived through these questions before hiring my first employee. That decision became an unforgettable turning point for Kane, enabling us to expand client relationships and double in revenue each year. I now have 12 employees and we continue to grow. Whether you decide to hire or you remain a solopreneur, reaching this point in your company’s growth is an exciting milestone – congratulations!