How Do You Know When It’s Time to Hire Your First Employee?

It’s frequently estimated that the cost of recruiting, hiring and training a new employee can cost a business $4,000 (or more), which is often anywhere from 25 percent to 200 percent of annual compensation for that new worker.

As industrious and multi-talented as you may be, if your goal is to grow your business, and have a life outside of it, the reality is that you can’t do it all. At some point you need to assess when the benefits of hiring another person will outweigh the cost of doing everything yourself.

There’s plenty of legal, financial and individual preparation that goes into adding another mind, body and personality to the operation of your business, but let’s start with assessment. How do you know when it’s time to hire your first employee?

Full Story: http://www.neighborhoodnotes.com/news/2012/03/how_do_you_know_when_its_time_to_hire_your_first_employee/