I own a small web development business, currently comprised of just one person (me). Lately, my business has exploded and I have been struggling just to keep up with all the projects I’m working on (and I’m still getting new ones faster than I can finish old ones).
So when is it time to hire someone?
I used to work for an IT firm as Head of Web Development and had several people working with me. We had someone who was more or less an administrative assistant that made calls, scheduled appointments, etc. I had two web designers that could help with sites, a sales person, etc. But even then, at the height of the Internet boom, I didn’t need all those people. Most of the time they just cost the company money we didn’t have.
So when is it really time to hire someone? I’m getting to the point now where I can’t handle all the work I have and I could keep getting more work if I had time to give proposals. I’ve put several potential new clients on the back burner because I simply don’t have time to meet with them and develop detailed proposals.
I’ve also thought about simply increasing my rates. That would reduce the demand from new clients (eliminate the smaller clients) while making the clients I do take on more profitable. I’m not sure what to do yet, but I know I will have to do something soon.
Glad that you’re doing well (already knew it, I know).
It’s an interesting situation. You may not NEED someone, but you may go crazy and lose time with your family and friends and chatting with friends online (wink, wink) that you want to have if you have too much to do.
Your rates aren’t particularly low right now, I know. Incidentally, would adding an employee (or contractor, whatever) cause extra expense where you would have to increase your rates, anyway?
I don’t think I would have to raise rates if I hired a part-timer or sub-contractor because I could send them a lot of small work I’m not even able to do right now due to my schedule. The only problem is I see some time opening up around October so I would hate to hire someone, get them trained and then have to let them go in a few months. Hopefully business would increase as my schedule opened up but the 4th quarter is statistically bad for me anyway (end of year for many budgets, no money left for many companies). We’ll see… maybe I can just tough it out.