How To Grow Faster By Hiring Few People
A very common question in the COO training we get is what to be done first… hire great employees or grow first?It is a strange period to be stuck in. If you have the resources to create a brilliant team, do it at all costs. Growth is mandatory, and you know you require the team to grow; let’s move further to know the best possible solution.
Focus on Growth:
First and foremost, focus on expanding your business. If you must second-guess a new hire’s financial requirements, you must expand first. If you can’t afford to hire two workers at the same price, you shouldn’t hire one. It’s a clear indication that your company is stagnant.
- Find new customers.
- Launch new product lines.
- Close more deals and sell more goods.
- Establish strategic connections with sharks.
- Invest in a good leadership development program so that your team may outperform the competition.
- Join organizations to connect with virtual COO
- Increase your resources.
Hire Experts:
The most crucial thing for business consultants to learn is how to leverage fractional specialists throughout the expansion period. Fractional experts are experts in a given field who work with you on a part-time or contract basis. The majority of the time, fractional specialists work from a remote location. However, when needed, they come to the workplace. They concentrate on important essential activities. So, if you require a specialist in a given sector but cannot afford it due to financial constraints, you can recruit part-time at a fraction of the cost. You can work with these specialists until you are ready to hire a full-time staff.
Final Thought
Your time is valuable, and if you can pay these individuals less than the value of your time to do some of your time-consuming duties, the investment will be worthwhile. A business advisor helps you implement these tactics. You’ll find your work lists gradually shrinking, and you’ll be one step closer to creating the sustainable revenue stream required to justify recruiting another employee.
