Entrepreneur to Employer
Website design By BotEap.comYou make the decision to start a business and for a while work from home or in rented premises and your business begins to grow.
Website design By BotEap.comLike all businesses, it experiences growing pains. Cash flow is sometimes tight, customers come in ebbs and flows, but you continue to make progress.
Website design By BotEap.comHe wins some big contracts and deep down he realizes that he needs to make some big decisions for the future.
Website design By BotEap.comYour working hours have been increasing steadily and the reason you got into business, lifestyle, more time with the kids, sports or whatever your passion is, these important parts of your life have been been losing lately and you find yourself resentful. Take the control!
Website design By BotEap.comSo how do you make the leap from entrepreneur to employer?
Website design By BotEap.comEmploying someone in your business for the first time brings with it obligations and responsibilities. It’s exciting, it has possibilities, and it can result in a hefty reward! Do your planning and add first before taking the leap.
Website design By BotEap.comSome responsibilities you should consider are;
Website design By BotEap.com1. Cash flow
Website design By BotEap.com2. Workflow (customers)
Website design By BotEap.com3. Business plan and mission. value statement
Website design By BotEap.com4. Federal and State Labor Laws
Website design By BotEap.com5. Health and safety in the workplace
Website design By BotEap.com6. Insurance
Website design By BotEap.com7. Venues (you need larger venues)
Website design By BotEap.com8. Marketing of business cards, office supplies.
Website design By BotEap.com9. Assets and Equipment
Website design By BotEap.com10. Your personal stress tolerance
Website design By BotEap.com1. Cash flow
Website design By BotEap.comThe old adage that “cash is king” is true.
Website design By BotEap.com2. Workflow
Website design By BotEap.comDo you have enough work in the pipeline to fund your business expansion and enough marketing work and processes to ensure the workflow continues?
Website design By BotEap.com3. Business plan, mission and value statements
Website design By BotEap.comYour business plan should be reviewed to ensure that it is working in line with your medium- and long-term goals.
Website design By BotEap.com4. Federal and State Labor Laws
Website design By BotEap.comWhen you’re thinking about hiring someone for the first time, you need to consider employment laws.
Website design By BotEap.com5. Health and safety in the workplace
Website design By BotEap.comYou should be aware of workplace health and safety obligations when hiring someone.
Website design By BotEap.com6. Insurance
Website design By BotEap.comHave you considered insurance? Doctors, dentists, accountants, and other professional bodies have specific requirements. Look these!
Website design By BotEap.com7. Premises
Website design By BotEap.comEmploying someone may result in your needing to obtain larger premises or make modifications to your existing facilities. Do your sums.
Website design By BotEap.com8. Marketing of business cards, office supplies.
Website design By BotEap.comDo you need to buy business cards, new stationery, office supplies and what is the cost?
Website design By BotEap.com9. Assets and Equipment
Website design By BotEap.comConsider assets and equipment.
Website design By BotEap.com10. Your personal stress tolerance
Website design By BotEap.comDon’t underestimate the personal stress you may experience as a result of employing someone.
Website design By BotEap.comTake advice sooner rather than later and cheer yourself up. Many others have walked the same path and have succeeded.
Website design By BotEap.comFinally, hiring someone is exciting, and while there are challenges, there are opportunities. Sales, profits and more time for you can become a possibility and a reality.
Website design By BotEap.comJust do your sums and plan your opportunity with your eyes open.
Website design By BotEap.comBiz Momentum has helped several companies with their transition to employer status. Talk to us today to see what we can do for you! WE can be your one stop shop.
Website design By BotEap.comVisit http://www.biz-momentum.com for other free and helpful small business articles. For more information, email [email protected]