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royemunson

Contributor
Read Fastlane!
Jul 24, 2007
218
85
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
 
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MJ DeMarco

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Jul 23, 2007
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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 Fastlane!
Jul 24, 2007
218
85
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

I followed the science; all I found was money.
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Jul 23, 2007
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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.
 
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Peter2

Fastane Legend. RIP.
Aug 2, 2007
408
190
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.
 

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