Many business owners believe that in order to survive, they must avail themselves of the widest possible workload. Omitting consideration is this simple fact: as a business owner, your time is infinitely more valuable than you think.
Do not believe me? Consider this: Say you want to take home income of $ 500,000 a year. In order to achieve that goal and realistically, that means your time is worth $ 856.27 per hour! However, how often do you discover yourself performing administrative and maintenance tasks that could have assigned someone for wages from $ 10 to $ 15 an hour?
The truth is this: when waste your limited time on menial tasks that deplete your energy, you’re not saving money; you’re missing out completely! (Not to mention your health, relationships and tranquility). Therefore, if you are trying to decide whether it is appropriate to hire additional staff for your company, here are some issues that you can consider in terms of the benefits that you would get…
Increased efficiency and productivity: If a task is taking too much of your time, especially a task that can be performed by a person subcontracted by $ 10 an hour, it’s time to stop doing it. You cannot afford to waste that kind of time and money in the process! At least, hire an accountant and an administrative assistant to manage daily tasks wasteful management of a business. You will be surprised to expand your capacity efficiency and productivity.
You may also like to read another article on Tradenligne: How to motivate employees your company
A better focus on your core business: When you get rid of the minimum things that are overwhelming you, you have time to be strategic and effective in business. As the owner of expert company in the field, the more you focus your efforts on what you do best (and not in tasks such as accounting, procurement, updating the website, etc …), you will achieve better guide your company towards growth real.
Increased profits! Remember, your time is worth much more than you recognize. Therefore, personal contract or subcontract part – time employees, as a direct result provides a reduction in costs. On the other hand, considering that now have more time to devote to doing what you do best, you get will win more contracts and more money! What if revenues increased and expenses reduced? The obvious: an increase in profits.