The Fear of Knowing When to Hire People

Are you the biggest obstacle to your own business growth because you're afraid to hire your first employee, or your next one? In this episode of Business Brilliance, David Habisch addresses the common fear that keeps business owners trapped as the sole contributor in their companies, limiting both revenue potential and strategic focus.

You'll learn how to establish clear strategic markers that remove emotion from hiring decisions and create objective triggers for team expansion. David challenges the popular "Hire Slow/Fire Fast" mentality, explaining why your unique business cycle should drive your approach instead of generic advice. Discover how to break free from the "this is how we've always done it" mindset that keeps teams stagnant and misaligned with current business needs.

Most importantly, you'll gain the framework for honest assessment: determining when your current team structure truly serves your business goals versus when it's simply comfortable familiarity. This episode transforms hiring from a fear-based decision into a strategic growth tool that positions you for sustained success and profitability.

The Fear of Knowing When to Hire People

Welcome to Business Brilliance, the podcast where we help you navigate the complex world of business and personal development. I'm your host, David Habisch, and today we will explore the challenges around knowing when it’s time to hire.

Like any aspect of your business, knowing when to hire staff can benefit from being built into your strategic planning. And in a strategic plan, it’s crucial to have markers that trigger decisions. These markers serve as guideposts along your way, helping you to assess where you are and make informed choices accordingly.

Still, I’ve coached a lot of business owners who were very hesitant about making that first hire (or the second). Invariably, I’d point out the obvious - you can't make more money if you're the only one doing all the work.

If you're running a business where you're the sole contributor, there's a limit to how much you can accomplish on your own. At some point, you'll need to delegate tasks and hire additional help. But the real question is knowing when to hire.

It's not as simple as just deciding to bring someone on board. You need to have a clear understanding of your goals and where you currently stand. So, my first piece of advice is to set a goal for yourself. Ask when can you take a bite out of profitability to invest in the business -  which means hiring. The trick is to find that balance between getting things done and creating room for growth.

Now, let's address a common concern - the fear of hiring because of the time it takes to train new employees. It's a legitimate worry, as training does require an investment of time and energy. However, it’s essential to realize that doing everything on your own also has its costs. By taking on all the work, you're limiting your capacity to focus on the bigger picture and develop your business further.

Sometimes, we hear the mantra “Hire Slow / Fire Fast.” While this mindset may work for some, I’ve always felt that this approach was flawed. It's crucial to examine your specific business and its unique circumstances. Every business operates on its own cycle, and that should shape how you approach hiring and separating from employees. It’s not a one-size-fits-all solution. You need to find what works best for your specific situation which may be just the opposite of this bit of advice.

Another trap to watch out for is being stuck in the mindset of “this is how we've always done things.” This includes having a fixed number of people on staff simply because that's how it’s always been. It is absolutely essential to challenge this thinking and reassess whether your business is truly benefiting from having these specific individuals in their current roles. Be honest with yourself and ask: is my business better off with these people or could it benefit from a different structure?

Remember, growth often requires change. As your business evolves, it’s essential to reassess your team and the roles they play. Don't be afraid to make adjustments and surround yourself with the right people who can contribute to your business's success at this particular point in time.

The bottom line is that hiring additional help is a crucial step in expanding your capacity and achieving growth. Don't let the fear of training and change hold you back. Take the time to assess your business, challenge old mindsets, and ensure that your team is truly contributing to your success. By doing so, you'll position yourself for continued growth and profitability.

Thank you for tuning into this episode of Business Brilliance. If you found today's content useful, please consider subscribing and sharing this podcast with others who might benefit, or join us at an upcoming Tiger Team Roundtable and experience the power of having a group of peers to draw upon.

I'm David Habisch, and until next time, don’t be afraid of making those hire – or fire – decisions. Just be sure you’re approaching it with the right mindset and that the decision better aligns you for success.