『043. When Should You Hire Another Employee? The Numbers Contractors Need to Know』のカバーアート

043. When Should You Hire Another Employee? The Numbers Contractors Need to Know

043. When Should You Hire Another Employee? The Numbers Contractors Need to Know

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Being busy doesn’t automatically mean it’s time to hire another employee. For contractors, adding payroll based on workload alone can turn a profitable business into a cash flow problem fast. Before you hire, you need to know whether the numbers actually support another person. In this episode of Profit Isn’t an Accident, Shannon breaks down the numbers contractors should look at before adding another employee, including: • How to calculate the true cost of an employee beyond their hourly wage • Why being booked out doesn’t necessarily mean you’re ready to hire • How gross margin changes what you can afford • How much additional revenue a new employee needs to help produce • Why you should stress test the decision before adding payroll • How waiting too long to hire can cost your business too Your homework: Calculate the true monthly cost of your next hire, your current gross margin, the additional revenue needed to support them, the predictable work in your pipeline, and what happens to your cash if revenue drops 20%. Hiring shouldn’t be a reaction to chaos. It should be a financial decision. If you don’t know whether your numbers support another employee, message Shannon HIRE and start there. Own your business. Live your life.
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