Budgeting for new staff is the ultimate game of chicken and egg. Can you take on the right amount of business to justify staffing? Can you take on the right new team members to support new business? And in both cases, will the returns justify the investment?
When it comes to staffing, there are many risks to weigh—and many costs to consider—as the face of your business changes. The pay-off for adding an employee when there are 3 of you, and the pay-off for adding an employee when there are 50 are tremendously different. Continuing to stay deliberate and analyze your health as a business is always important.