Clockwork: Design Your Business to Run Itself by Mike Michalowicz

Author:Mike Michalowicz
Language: eng
Format: epub
Tags: Non-Fiction, Business, Personal Development, Self Help
Publisher: Penguin Publishing Group
Published: 2018-08-21T00:00:00+00:00

WHEN SHOULD I HIRE?

I get this question almost daily. Before I can answer, the person asking already has their own answer. They’ll say, “I can’t afford to hire someone now,” and “No one will have the skills I need, without a huge price tag,” or “Everyone else sucks.” The entrepreneur’s conclusion is almost always the same: “I guess I just need to grind it out longer by myself.” They decide they need to delay the hire, and in doing so, stay stuck longer and longer in the Survival Trap. A good rule of thumb is, if you feel you could use help but need to grind it out longer, take that as a desperate subconscious plea to yourself that you need help now, and should make that hire. Remember Celeste’s story at the beginning of this book? No one wants Celeste in that position, working herself into exhaustion and illness, and we surely don’t want it for ourselves. But if the mentality is to just grind it out for yet another day, you are slowly but surely digging yourself a hole that will become harder and harder to get out of.

First, let’s address your mind-set about doing the work yourself. Let me ask you a question. Would you rather make fifty dollars an hour or five dollars an hour? Of course you want that fifty bucks. What if I asked you if you would rather make fifty dollars an hour doing all the work yourself, or five dollars an hour doing no work at all? This is where the Survival Trap reveals itself. Fifty dollars an hour is still better on an hourly return than five dollars an hour, but how much you ultimately earn is determined exclusively by your effort and your ability to sustain. The five dollars an hour (after expenses) comes in regardless of whether you are working or not.

When you figure out that you can keep multiplying five dollars an hour into infinity, you might change your thinking. Let’s say with one good hire you can make five dollars an hour without working, and with two hires you can make ten dollars an hour. With ten hires you can now make fifty dollars an hour without lifting a finger. You’re sick, you make money. You go to your daughter’s school play, you make money. You go on vacation, you make more money. That is the goal of a Clockwork company—that the company runs itself without any dependency on you, all while serving you with the money it creates.

Now that you see you can make money even (or especially) if you don’t do the work yourself, when should you hire? Hiring can’t happen too soon. But it can happen too fast. Those are two different things. If you hire too fast, you are hiring flippantly and without proper consideration. That is a mistake. But you can’t hire too soon. Meaning, any size business will benefit from the right hire, hired under the right parameters, sooner rather than later.

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