So, the other day, a friend was feeling a bit overwhelmed running their business, and we got to talking about when’s the right time to bring in some help. I totally get it — juggling all those hats can be a circus!
Here’s what I shared with them, It was such a lightbulb moment for them that I thought you might find it helpful too:
Step 1: Jot down your monthly income. Let’s say it’s $7500.
Step 2: Note how many hours you’re putting in each month. If it’s 160 (working 40 hours/week), that’s your number.
Step 3: Crunch the numbers. Divide your monthly income by the hours worked. In our case, $7500/160 = $47/hour. That’s what your time is worth right now.
Step 4: List down all the tasks you’re tackling in your business, from creating content to managing taxes.
Step 5: For each task, figure out what it would cost to hire someone per hour to handle it. You’ll see that tasks have different values.
Here’s my rule of thumb: If you can outsource something for less than what your time is currently worth per hour, do it. If you’ve read “Who, Not How” there is a handy form you can use that outlines your vision for the project and how you define success or failure. Then you find a “Who” that has more expertise in the subject matter and let them run with it.
Consider starting with a Virtual Assistant (VA). They’re magical creatures who can handle a bunch of admin tasks. There are a lot of great books and websites about how to screen for a solid VA. You can find fantastic VAs on platforms like Upwork for $5 – $20/hour.
I get it — sometimes the hesitation to hire comes from thinking “I don’t have the money” or “it’s too early.” But think of it this way: Every hour spent on lower-value tasks is pulling you away from higher-value opportunities.
Even if there’s a short-term financial dip, freeing up your time lets you focus on tasks that will eventually cover the cost of hiring and make you more money.
I am a huge advocate for finding “Who’s” so you can focus more on working ON your business instead of IN your business. That’s my take on hiring — hope it resonates with you!