Welcome to Episode #36
Almost every day, we get a lot of really great questions about hiring a team. Are you wondering when is the right time to hire? Are you unsure who to hire first?
I get asked these questions constantly, so I wanted to take some time to chat with you about it on today’s podcast.
Since we talked about how to work smarter, not harder on our last episode, I wanted to explain why hiring team members can help you do just that.
Whether business is booming or not, you need support. And hiring an employee doesn’t have to be as stressful as it might initially seem.
I hope today’s episode will help answer your biggest hiring questions so you can build your Jewelry Biz DREAM team!
Know Your Facts
I’m a firm believer that a little research can go along way, and it’s always better to be as informed as possible with any decision you make in your business.
As much as I try to pack information into these podcasts and trainings, as a business owner, it’s vital that you do your own research.
You’ll want to be informed, supported by research that outlines exactly what the going labor rates are for potential new positions in your team.
It’s also up to you to research any tax laws or other legal restrictions that you may be unaware of.
(As I mention in today’s episode, getting audited by the home states of off-site contractors was something I previously didn’t know could happen!)
Employees vs. Contractors: Know the Difference
Part of knowing your fact finding mission should be to know the difference between employees and contractors.
So, let’s get down to brass tacks:
The key differentiator between employees and contractors is control, how and where the work is performed and whether they use their own tools to complete the job.
In the U.S., there is also different tax and pay protocol:
Contractors are most often paid by the project or by the hour, invoicing you when projects are complete. They pay their own taxes, and your business would have to file a 1099 for them, while they’ll be required to fill out a W-9 form.
Employees, on the other hand, usually fill out a W-2 and have their taxes taken out of their paycheck. In the case of employees, your business would be responsible for paying those taxes.
Take a listen to the podcast to hear my advice if you unsure as to which option is right for your business.
Know Your Business
Our advice? As a business owner and Chief Visionary Officer of your company, you must break free of the employee status mindset.
Instead of working IN your business, work ON your business and choose hires that you feel will add value to your business.
Remember, hiring out means you have that much more free time to focus on highly leveraged and revenue-generating activities, so don’t be shy to take the hiring plunge!
Working with others who have different skillsets is a rewarding experience on its own, and with a little practice it’s not hard to find some pretty amazing DREAM team members out there for your biz.
For more great advice on building the brand of your DREAMS, Flourish & Thrive Academy is hosting a FREE Master Class called…
The Creativity Matrix: How Regain Your Free Time, Reconnect with Your Creativity, and Double Your Profits.
This Master Class was designed for those of you looking to step into the role as Chief Visionary Officer of your business and, as always, working smarter, not harder.
Click the image below to reserve your spot…
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