Hiring Employees Is Not The Holy Grail

  • Category: MonetizingRunning Your Business

Have you ever noticed that many people view having employees—especially a lot of them—as a badge of honor when you own a business?

It’s almost like it’s expected that if you’re serious, you’ll be hiring.

Jonathan and I tackle the myth of employees as the holy grail for expertise businesses:

Jonathan and I tackle the myth of employees as the only/best end goal for expertise businesses:

Three ways to scale your business with employees (and when it makes sense for them to be contractors instead).

How to think about and map your monetization strategy when you have employees—and why cash flow is queen.

What to do instead when you think it’s time to hire your first salesperson.

The four steps to create personal leverage in your core business—with or without  employees.

Why your business deserves to be structured so you can live and work in your genius zone.

Quotables

“Hiring employees is like a milestone in the journey of any entrepreneur.”—JS

“Having employees changes how you think about your business day to day.”—RM

“Mini mees are inexperienced versions of yourself where you’re gonna mark up their time, bill them out and make the profit off of that.”—JS

“(When you’re thinking of hiring) you first want to map out your monetization strategy.”—RM

“If you’re billing by the hour, just shut this episode off because what we’re gonna talk about next is how to deliver more with less work.”—JS

“You can hire a whole bunch of employees and go broke five times faster than you would otherwise.”—RM

“What would you be considering hiring employees for? It’s always because you think they’re gonna create leverage…to make your business better.”—JS

“I always wanted my employees to make plenty of money because it meant we were all really successful…I paid them based on the outcomes they met and we could all make a lot of money.”—RM