Why did you go into business for yourself? Was it because:
- you had an idea that you couldn’t stop thinking about, an idea that you wanted to bring into reality?
- you could do something really well, better than anyone else, and you wanted to do it all the time?
- you were tired of doing things the way someone else wanted them done, when you knew you could do it better yourself?
- you had a passion, a burning desire that was bursting to be expressed?
You’re an entrepreneur, a business owner. And chances are, you didn’t start your business with a burning desire to be a manager of people.
I know I didn’t. When I started my marketing communications firm back in January, 1984, I had big dreams. I was going to be the most sought-after graphic designer around, my award-winning work would be seen in the top magazines representing the most prestigious clients. I’d be flamboyant and philosophical and utterly, utterly creative. And I wanted to be responsible to myself for how much money I made.
I was thrilled when my business grew quickly and I needed to add some people to help me, and I was sooooo shocked when I found out I had to be a manager.
Why didn’t these people know what to do? How was I supposed to know how to train them? Why did every problem end up on my desk? And if I spent all my time showing them what to do and answering their questions and checking their work, when was I going to have time to be flamboyant and philosophical and utterly, utterly creative? And how was I going to make any money?
It took me a long time to come to terms with the fact that:
employees = management = stress = time sucking activity = need to find a way to do it right.
I knew I needed employees if my business was going to grow, and if I was going to remain healthy and sane. A colleague in business for herself at the same time convinced me of that.
Susan’s story
Susan (not her real name) and I had very similar companies, so we would compare notes from time to time, and check in to see how the other was doing. When I hired my first employee I was so excited I could hardly wait to tell her, because I had discovered the compounding math of productivity: I could bill for my time, and I could bill for my employee’s time, and make double the money in the same amount of hours! When I told Susan of this intoxicating discovery and suggested she try it, I was surprised to learn of her fear. “But Marcia,” she said, “If I hire someone, I’ll have to pay them, and what if I don’t have enough money to pay them?”
I went through the calculations with her again, showing the profit margin of paying the employee out of the client billing, and billing the person out at a higher rate than you pay them, but it was all lost on Susan. Although she was always extremely busy, her fear of generating enough income held her back. So, as I continued adding employees and adding to my income, Susan continued working until late into the night, trying to meet client deadlines on her own. Our conversations changed, and things became strained. I tried to hold my enthusiasm back while she complained about missing family weddings, and not being able to spend time with her husband when he was in town, as he traveled and was out with clients a lot. Susan was always working, working, working, and her personal life was suffering. As we lost our common connection, we lost touch, and a few short years later, I read her obituary in the paper. She died of cancer, leaving her husband and two small children behind.
Susan’s story haunted me. It made me realize that I truly did need my team, I really did need help to run my business if I wanted to have a successful business and a successful life.
If you’ve hired employees, you’ve made the right decision, too. They can help your business grow, they can take some pressure off of you, they can support you, and they can help you make money.
If you haven’t read it yet, be sure to get a copy of my free report, “From Problem Team to Money-Making Machine.”
If you have it, take it out again and read it — there are some powerful strategies in there, don’t be fooled by their simplicity. And if you need a bit more help, take advantage of the Personalized Strategy Session offer at the end of the report, or the free Laser Coaching session. I can help guide you through the maze.
