“I can’t afford to hire administrative help,” said the frazzled business owner, as he ran to UPS to ship a client gift and drove to the store because the office is out of coffee and toilet paper. True story.
We had a math lesson in last week’s blog that showed the impact of 8 hours a week, over a year, on repetitive admin process work. Math lesson #2. Assume your time as a business owner is worth at least $200 per hour. When you spend time doing work that a teammate could do for $20/hour you are stealing $180 of potential from the future of your business.
8 hours per week x $180 per hour x 52 weeks = $74,880
Hundreds of times we have advised frazzled business owners to add part-time administrative teammates, which resulted in bigger, better work. A 15 hour per week helper would cost $300 per week. Use the time that buys you to close more deals and take more time for yourself and your family. The ROI is enormous.
There are many talented stay-at-home moms or dads who want the opportunity to be home with their young children and work. They get to stay in the business world with a flexible schedule and you get experienced talent: a win-win. We have also hired business students from local colleges and universities.
Take action: We have a sample job description for a part-time administrator. Download it and use it as a template with your business specifics and language. Share it with your local network and on social media and we bet you will get a few candidates. If you need more help with this process, contact our Small Business Xcelerator, Fanni Gambero, she is passionate about linking up SMB owners with the right SBX employees.
XM Truth: You can’t afford not to hire administrative help.