The Three Mistakes People Make When Trying To Grow Their Team - Podcast Episode 63
This week on the Being Unstoppable podcast, we dive into the three mistakes business owners make when growing their team. The reality is that you are only one person, and you can only do so much yourself – your time is limited. If you want to scale your business beyond your hours, you will need to hire a team.
These are three mistakes that I see law firm and service providers make.
- Having the limiting belief that there is nobody who can do the work as well as you can.
Does this one resonate with you? Many business owners people make this mistake, especially service providers. The reality is that you feel like this because you are very good at what you do, which is why you started your business. You know that your work is of incredible quality, and it can be hard to trust someone else when your name is on the door.
I get it!
Time and time again, I see firm owners who believe that if you want it done well, you need to do it yourself!
The problem with this attitude is that they become overworked and tired with little to no results in the end.
Truth bomb: You can’t scale your firm if you are the only service provider in your business, long term. You also have a business to run. Being overworked and underpaid is the formula for resenting your business.
Systems and automation in your business will be the best thing you ever implement into your business – trust me! When you have systems in place, you can trust that your team will do things the way you want them done. This way, you never need to sacrifice quality.
- Not hiring because they are afraid of not having consistent income to pay the team;
Making that first hire can be scary. From there, creating new roles also feel risky! What if there is not enough money to pay the wages? When you don’t have predictable data and you have collated it roughly in your head, it is scary.
When you run your business using data, everything becomes more predictable and clearer. Instead of guessing, you have real figures to back you up.
What do I mean by data? Sourcing numbers such as the following (but not limited to):
- How many clients do you need to turn over to make consistent income?
- What is your average dollar spend for each client that comes through the door?
- How many service providers do you need to service the number of clients you retain?
- What will the monthly revenue be for each service provider?
- What costs will be for each service provider?
This data is easily available to you, but many business owners surprisingly don’t know these numbers. If this idea overwhelms you, then don’t worry I have got you. The Scalable Business Lounge takes all of the guesswork out of it. I guide you through exactly where and what you need to do to scale by breaking down everything you need to know for you to be able to work on your business rather than in it.
- Only considering hiring juniors because they are less expensive.
Many business owners start by hiring juniors because they are less expensive, and it seems less scary. The issues are that juniors are not an investment (not right away), but instead, they are an expense. They take a lot of training and time. When you are already stretched for time, this is a recipe for disaster.
It becomes unsustainable, as what happens from here is that you end up spending all of your time training this junior, and you become frustrated because you are already overworked. Do you see this issue? It is exhausting and overwhelming for the business owner. Then the business owner forms the view that there are no good people out there, and they may as well do the job themselves. It is a vicious cycle.
It is wiser to invest by hiring up and getting a team member to support you as the business owner. Hire a team member that is even better than you are and start creating a power team.
Listen to the podcast for detailed information on the three mistakes when hiring a team. If you need help scaling your law firm, join Caralee in the Scalable Business Lounge. Jump over to caraleefontenele.com for more information.
