Effectively Choosing Your Next Hire
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Key Takeaways
Visually map your current organizational chart to clearly see existing roles, responsibilities, and who fills them, even if one person wears many hats.
Analyze your org chart to pinpoint bottlenecks, areas of overcapacity, and weak links to identify where a new hire would have the most impact.
Develop a future organizational chart (3-year vision) to plan for new roles and restructure existing ones, allowing team members to specialize and perform better.
Consider common high-impact hires like an office manager, designer, selections coordinator, or bookkeeper to offload '$10 an hour' tasks and free up valuable time for owners and key staff.
Thoroughly understand your financial numbers (topline revenue, gross profit, overhead, net profit) before making a hiring decision to ensure affordability and strategic funding for the new position.
Strategically plan how to fund a new hire, either by increasing markup to boost gross profit or increasing sales volume to generate more gross profit dollars.
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