The Entrepreneur Forum | Startups | Entrepreneurship | Starting a Business | Motivation | Success

WEB/DIGITAL Employees

Remove ads while supporting the Unscripted philosophy...become an INSIDER.

royemunson

Contributor
Read Millionaire Fastlane
Jul 24, 2007
216
70
77
SW Ohio
Those of you with web biz's. At what point may you need employees?

Can you build up a web based biz that doesn't require employees where you're still making 100K/month?

Just curious

Joe
 

Don't like ads? Remove them while supporting the forum. Subscribe.

MJ DeMarco

Administrator
Staff member
EPIC CONTRIBUTOR
FASTLANE INSIDER
Read Millionaire Fastlane
I've Read UNSCRIPTED
Summit Attendee
Speedway Pass
Jul 23, 2007
30,823
113,664
3,751
Fountain Hills, AZ
Those of you with web biz's. At what point may you need employees?

Can you build up a web based biz that doesn't require employees where you're still making 100K/month?

Just curious

Joe

The answer really depends on the business. I would speculate NO. Adding employees adds to the growth curve, but eats away at profitability. Its really a fight between growth and profitability AND long-term vs short-term.

Employees are needed to grow your business to the next level - you can't keep doing everything yourself.
 

royemunson

Contributor
Read Millionaire Fastlane
Jul 24, 2007
216
70
77
SW Ohio
Point well taken. At what point did you add employees MJ?

Not that I hate them or don't want them, but just curious as to
how far you can get without them.

Not that it matters for me at this point, but would be something to have
within the plan.
 

MJ DeMarco

Administrator
Staff member
EPIC CONTRIBUTOR
FASTLANE INSIDER
Read Millionaire Fastlane
I've Read UNSCRIPTED
Summit Attendee
Speedway Pass
Jul 23, 2007
30,823
113,664
3,751
Fountain Hills, AZ
I added my first employee when I found myself spending a good portion of my day doing tasks that someone else can do, and for cheaper. If you're worth $250/hour, you shouldn't be doing work that someone can do at $15/hr. Tasks like customer service, answering phones, billing - rudimentary stuff started consuming more of my time.
 

Peter2

Fastane Legend. RIP.
Aug 2, 2007
413
173
32
Palm Beach, FL
I think most people wait too long before hiring their first employee. For some, it may be money related. They simply can't afford to hire someone right now, but for others, it's fear of giving up control.

In my opinion, most people are also thinking too small, and are afraid of going forward too fast. The moment it makes sense for your business, is the moment you should take on more people. No one is and expert in every field. Surround yourself with employees that are more qualified than you are, and do it as fast as you can.
 

Sponsored Offers

  • Sticky
MARKETPLACE Fox Web School "Legend" Group Coaching Program 2020
Hello I joined Fox web school last month sept 26 2020 and in just exactly 1 month i got my first...
  • Sticky
FEATURED! Introducing... WEALTH EXPO$ED, A Short Story By MJ DeMarco
Hi Mj, I just bought it. And reading it. I think is a great idea to write using the stories to...
  • Sticky
MARKETPLACE Lex DeVille's - Advanced Freelance Udemy Courses!
Hey @Lex DeVille ! Having some issues with the NOREGRETS code? Udemy thinks it has expired...
  • Sticky
MARKETPLACE Grow Your Business With a Book (An Unorthodox Marketing Strategy That Built One of the Largest...
Are you looking for a new, lesser-known but potentially very lucrative source of leads to your...
  • Sticky
MARKETPLACE You Are One Call Away From Living Your Dream Life - LightHouse’s Accountability Program ⚡
Just got off the phone with @LightHouse. Having just a 45 minute conversation with him has...
  • Sticky
MARKETPLACE Kill Bigger Incubator
@Kak Thanks for the reply. Whats interesting is that I have an idea that's been cooking which...



Forum Sponsor

sponsor

New Topics

Fastlane Insiders

View the forum AD FREE.
Private, unindexed content
Detailed process/execution threads
Monthly conference calls with doers
Ideas needing execution, more!

Join Fastlane Insiders.

Top Bottom