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Whether you’re working on hiring your first employee right now or not, you should be preparing for the future.
If your business isn’t making enough to pay you, you’re not ready to hire an employee. That doesn’t mean you shouldn’t plan ahead, but unless you have more money than you need for yourself personally, you’re not ready.
The first step is to build a runway. I thought about employees the wrong way for too long. It held me back for years. You may be thinking of it the same way: I thought I should hire an employee when I knew that person would make me more than the amount of money I pay them for their salary.
Wrong. You need to get super practical about the actual value of your time. I’m not talking about the theoretical value (that’s the amount you say your time is worth). I mean actually what you can make in 60 minutes if I said “GO!”
When I say, “Go make the most money you can in 60 minutes,” the thing that immediately comes to mind for you is the thing you should be focusing on. You should be doing 10X more of that thing, but you’re not. Why? Because you’re bogged down with other things.
Those other things are the things you should be delegating. Your first employee isn’t someone you should hire when you know they’ll make you money—they’re someone you should hire when you know it will free up your capacity to work on the most important things!
They’re making you money by freeing up your time.
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