Starting a new business can be an exciting journey. Many people create new companies as solopreneurs, or entrepreneurs who work alone. However, there comes a time when everyone needs help. Understanding some of the resources available helps you expand your team from a one-person show without risking the leanness of your startup. So here are some tips from W.D. Strategies to help you find the resources your business needs.
Consider Professional Services
One of the best ways to expand your business without overextending your budget is to work with professional services providers. These are professionals such as accountants, lawyers and management consultants. They can help you with the administration of your business without ever having to hire someone.
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It is often a good idea to get help from a contracted accountant long before you have the ability or need to hire one full-time to ensure your books are in order. Similarly, you may want to hire a lawyer to help with forming a limited liability company or applying for a trademark.
Use Freelancers
If you want to bring some help on board but aren’t ready to commit to a salary, freelancers may be the answer. The good news is that it is easier than ever to find and hire freelancers both near your business and overseas. Online freelancer websites provide helpful ways to connect with workers around the world.
You can pay freelancers for their time or for the work they produce. Plus, you can work with freelancers as often or as rarely as you need, providing that they are available.
Paying freelancers is also easier than compensating employees since you are simply paying another business. Keep in mind that if you are hiring someone overseas, such as a graphic designer in the Dominican Republic, payments can get slightly complicated. Consider using a digital service with low fees for payments. For instance, Remitly allows you to send up to $999.99 to the Dominican Republic for $4.99, and transfers of $1,000 or more are free. Or if you’re sending money to Mexico, there’s a special limited time offer of 21.31 Mexican pesos per US dollar on your first transfer.
Create a Part-Time Listing
Of course, freelancers and professional service providers aren’t always the answer. Another great option is to employ someone part time. You may be surprised by how many people are interested in part-time work. For example, many stay-at-home parents who are returning to the workforce use part-time gigs as a transitory step. Alternatively, you may hire a student who wants to work between classes.
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According to the Bureau of Labor Statistics, around 27.7 million workers, or one in five, had part-time employment as of 2016. There is an excellent pool of talent that you could hire through this method. Your network is a good place to start, along with online job boards.
Find the Right Role To Add First
Whatever method you choose for hiring someone, make sure you expand with the right role first. Of course, this differs according to the current needs of your business. However, common examples of first hires include salespeople, customer support representatives, cashiers and marketers.
Some solopreneurs recommend hiring someone who has the opposite skill set or who can do a job you dislike. Whatever your method, take some time to consider the best use of your resources. The right first hire can put you on a path to lasting success.
Why not take the leap and explore some of these ways to grow your business as a solopreneur? Whether you hire a freelancer, part-timer or a salaried employee, building a great team one person at a time can lead to new levels of success.
W.D. Strategies leverages its internal talent and greater network to tackle a variety of business-related projects. We’ll work with you every step of the way and match you with the appropriate personnel to succeed. Contact us today to get started!
This post was contributed by David Dixon, a guest contributor for the Business Intelligence Blog & Edited by the Business Intelligence Team.
