Today I want to talk about when you shouldn’t hire an assistant.
I know, I know – if you’ve been watching my videos or reading my blogs for a while, you’ll know I’m a huge fan of outsourcing. Don’t worry: hiring the right assistant and not doing everything yourself is still totally my jam.
BUT I’ve seen a lot of people jump straight into hiring while missing this one key step.
(I’ve definitely been guilty of this before…)
These people know that before you figure out who you’re going to hire, of course you need to know what tasks you’re hiring them for. But the step they (and I!) missed is this:
You need to assess, “What is the ROI on these activities?”
ROI is your return on investment. How are these activities going to generate money for your business?
A lot of times I’ll hear people say things like, “I want to hire a whole team to create content for me! I want to hire a writer, I want to make videos, I want to hire an editor for the videos, etc. etc.”
This is all stuff that I talk about, and all stuff that I do.
But if you don’t have a PLAN for this content and how it’s ultimately going to make you money, then hiring this team is not really an investment…
It’s an expense, plain and simple. And over time it’s going to be money down the drain.
So you need to figure out whether or not this strategy you’ve been employing still makes sense for your business.
One way to do this is to do a quarterly review. You can do this either on your own if you’re flying solo so far, or with your team if you have one.
Once a quarter, figure out what it is that everyone’s working on, figure out if those things still make sense, and decide whether or not you still want to continue doing them.
Maybe it’s time to reassess and pivot. Maybe you can quit doing some of those tasks and spend that time and money on other tasks that are working really well.
Basically, we want to kill any projects that are not working and double down on the ones that are.
I have a couple of different businesses and I do this quarterly review for both. It’s one way to make sure we’re making the most of our money and time – and that’s the key to running an efficient business.