How to grow service business systematically?

[Tanu1234]

Hi,

I have accounting n tax practice n it is growing fast.

I am thinking to hire first employee.

What steps should i take to grow business systematically without burning out n loosing quality of service?

I have local n global clients.


Sent from my iPhone using Tapatalk

 

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[NMdad]

To grow your business systematically, you might want to read Jay Abraham's book "Getting everything you can out of all you've got". If you implement even 1 strategy from it, you'll be able to grow your business.

For hiring, I'd suggest first--before you hire--documenting the things you do & how you do them. That way, you'll have some systems in place before you hire anyone.

And for deciding who to hire, that's a big topic, but I've found that giving them tasks during the application process to ascertain their responsiveness, attention to detail, and skill level. Have them do a small task that's similar to what they'd do for the job--that way, you can see if they ask questions if they're not clear on things, how quick they respond, how thorough a job they do, etc. If they're unresponsive/slow-to-respond or do sloppy work during the application phase, it's highly likely they'll operate the same way as an employee.

 

[NC Bidniss]

Think about why you are hiring and what comes with hiring. What job(s) will that employee do? How much will you have to pay them? Will you pay hourly or annually? How often will you truly need them to work? Would they work in your office or remotely? If you don't have an office but need one, how much will that cost? What are the equipment costs? Will you offer benefits, and if so, what are they and what do they cost? Will you hire direct or hire through a staffing agency? What quantifiable value will that employee add to your business? Can you even afford to hire someone?

Answering those questions will help you determine first whether you need to hire someone at all. While giving menial work to others so you can focus on the moneymaker of your business can be a smart idea, it may be one of those things that is better suited to outsource, or perhaps even hold off on entirely. Keep in mind that your cost to hire someone is far beyond their hourly wage.

If you do determine you need to hire someone, think about the best way to gain value from that person's time. Since you would be hiring your first person, it is safe to say that your business is small enough that your employee could wear a few hats. Think about all of the things that take up your time that do not make any money. Things like bookkeeping, screening calls, cleaning the office, and so on could be good things to give to your employee. Don't make the mistake of thinking you can only hire a person to do one particular job.

You must also consider the type of person you want to hire, and what that kind of person will cost you. A bit of wisdom my father always gave me was "A people hire A people; B people hire C people". Hiring an "A person" should always be your goal, regardless of what "grade" you give yourself. "A people" will provide the best value to your business, but attracting them will often require a highly competitive wage. A top tier salesperson won't work 1 minute for $10 per hour and a 0.5% commission. Pay peanuts and you get monkeys.

If you hire only when necessary and hire good people, it will almost always benefit you. If you hire on a whim, you may end up hurting yourself. Just keep this in mind always: do you NEED to hire someone?

 

[Tanu1234]

To grow your business systematically, you might want to read Jay Abraham's book "Getting everything you can out of all you've got". If you implement even 1 strategy from it, you'll be able to grow your business.

For hiring, I'd suggest first--before you hire--documenting the things you do & how you do them. That way, you'll have some systems in place before you hire anyone.

And for deciding who to hire, that's a big topic, but I've found that giving them tasks during the application process to ascertain their responsiveness, attention to detail, and skill level. Have them do a small task that's similar to what they'd do for the job--that way, you can see if they ask questions if they're not clear on things, how quick they respond, how thorough a job they do, etc. If they're unresponsive/slow-to-respond or do sloppy work during the application phase, it's highly likely they'll operate the same way as an employee.

Thanks.

Certainly I will purchase the book.

Giving tasks on application phase was not on my mind. This will surely help.

Actually, I have clients with different industries and there is variation in work but I will write down the common tasks and try to create system.

 

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[Tanu1234]

Think about why you are hiring and what comes with hiring. What job(s) will that employee do? How much will you have to pay them? Will you pay hourly or annually? How often will you truly need them to work? Would they work in your office or remotely? If you don't have an office but need one, how much will that cost? What are the equipment costs? Will you offer benefits, and if so, what are they and what do they cost? Will you hire direct or hire through a staffing agency? What quantifiable value will that employee add to your business? Can you even afford to hire someone?

Answering those questions will help you determine first whether you need to hire someone at all. While giving menial work to others so you can focus on the moneymaker of your business can be a smart idea, it may be one of those things that is better suited to outsource, or perhaps even hold off on entirely. Keep in mind that your cost to hire someone is far beyond their hourly wage.

If you do determine you need to hire someone, think about the best way to gain value from that person's time. Since you would be hiring your first person, it is safe to say that your business is small enough that your employee could wear a few hats. Think about all of the things that take up your time that do not make any money. Things like bookkeeping, screening calls, cleaning the office, and so on could be good things to give to your employee. Don't make the mistake of thinking you can only hire a person to do one particular job.

You must also consider the type of person you want to hire, and what that kind of person will cost you. A bit of wisdom my father always gave me was "A people hire A people; B people hire C people". Hiring an "A person" should always be your goal, regardless of what "grade" you give yourself. "A people" will provide the best value to your business, but attracting them will often require a highly competitive wage. A top tier salesperson won't work 1 minute for $10 per hour and a 0.5% commission. Pay peanuts and you get monkeys.

If you hire only when necessary and hire good people, it will almost always benefit you. If you hire on a whim, you may end up hurting yourself. Just keep this in mind always: do you NEED to hire someone?

Thanks for reply.

As I am working alone for all clients, I am not able to accept more work. So I am thinking to hire someone for work of clients I am doing and then focus on getting more work and hiring more people to team.

For hiring, I am thinking to hire first part time employee and if he is ok then employ him full time.

Yes, I am planning on financial side. I am doing saving for this for years. I am planning to hire in few months in June/ July.But first, I want to learn about hiring and scaling of business.

But as you said, I will still think again about this decision.

 

[MHP368]

Hi,

I have accounting n tax practice n it is growing fast.

I am thinking to hire first employee.

What steps should i take to grow business systematically without burning out n loosing quality of service?

I have local n global clients.


Sent from my iPhone using Tapatalk

Map out the entire process , right now you do everything , categorize and get the process on paper.

1.) how do clients find you? , that entire process could be one job. Marketing / sales / lead generation / customer service and retention.

2.) How do you perform the service? I dont care if its mopping you should have the process drawn out so you can hand a new hire a folder and theyll know what they are responsible for.

3.) Administrative tasks. Probably doesnt make sense to have your first hire be an accountant or manager but start thinking about it now.