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At what point should I look to hire an employee? (alien.top)

submitted 11 months ago by CaptainFalcon24@alien.top to c/entrepreneur@indiehackers.space

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Recently I spoke with a client of mine and while he was talking about his own business the message rang true to me as he said something along the lines of he'll never get rich trading his time for money as there's only so much time in the day and he can only dedicate x amount of time to each of his clients even if he continues to raise his pricing model up. Now I understand that's a very basic concept of business/finance but up until this point, I feel like I almost forgot to think about that while I've been busy trying to grow my own business.

I mean currently, I manage a handful of clients including him where I do SEO for them on a month-to-month basis and things feel very manageable now where I'm comfortable bringing on new clients and feel I can dedicate the appropriate amount of time to each one of them but I've started to ask myself at what point would I actually be able to hire an employee to help me out? Is it at a certain number of clients or maybe a certain amount of revenue/profit? and then I have to be able to afford salary, benefits, etc... because I don't want to be a terrible employer when and if that time does ever comes around. So I guess what I'm asking is when should I be looking to hire?

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[–] AP032221@alien.top 1 points 11 months ago

The key issue is that can you find an employee that will produce more value than what you are paying the employee and the time you spend teaching and guiding the employee (employee may leave after getting trained). Besides simple economics, there are several risks with adding people than yourself: (1) if interfacing with clients, they may offend your client, (2) they may leave you and take your clients with them, (3) steal from you, and (4) get you into lawsuits. If you can isolate portion of work for a suitable person and prepared for the risks, then try it.