Should I Hire This Person Even While I Have Cash Flow Problems
This week's question from my portal “The Neagle Code: Directions for Life” comes from someone who wishes to remain anonymous.
Over the past two years, I’ve been having cash flow challenges. We’ve been generating income, but we’ve still had very high expenses. We’ve also had challenges in retaining some of our staff. We’ve found a great hire now, but she’s $1,200 more expensive than anyone I would’ve hired in that position before. She’s leaving the top firm in my country to come to us.
In the back of my mind, with all of our cash flow challenges and debts, I’m feeling overwhelmed and a little guilty. I fear that if she comes on board…what if I can’t afford to pay her? How can I set my mind right about this situation?
I would look at two things:
- Will she bring in new business?
- Will she free up your time (or whoever else’s time needs to be freed up) to bring in new business?
If the answer is yes to either of these questions, then this person will be worth the cost of hiring her.
If she’s not going to bring in new business… then consider whether she can free up YOUR time, so that you can bring in new business.
How much work will this person take off your plate? Is that enough time for you to go out and create enough business in order to make it a smart hire? If so, then that’s the decision to make.
People need to realize that if you want good help right now, the help is out there.
There’s a ton of help out there. But you’re going to pay a premium for it.
The only thing you have to make sure is that it makes sense to the bottom line.
Is it going to solve your problem? Is this person as good as they project themselves to be?
I would have no problem making a decision like that, and then making sure I brought in enough business for them to take care of.
The worst-case scenario is… you’d have to let them go because you can’t pay them. And then you’d have to make the money to pay them for whatever work they DID do. But that’s not a bad consequence.
P.S. Whenever you're ready… here are 3 ways I can help you grow YOUR business:
- Listen to The Successful Mind Podcast. Three times per week I drop cutting edge information and strategies relating to success mindset, leadership, wealth creation, and relationships.
- Join other like-minded small business owners in my Transformation Facebook Group! Allow us to be a place to share ideas, get advice, and meet others who value truth and growth!
- Join me at The Art of Success Summit! This October, I'm getting a group of amazing business owners together for 3 days to work on exponentially growing their business.