Being an entrepreneur is really exciting and it comes with a lot of great perks and rewards — you are your own boss and you make the rules. Your work schedule is flexible and it just feels so damn AWESOME to be able to run your OWN company.
However, being a business owner also means having to conquer your fears in order to move forward and grow your company. Especially you need to understand how to overcome the fear of hiring.
In this article, I will talk about a type of fear that normally shows up whenever your company starts to grow.
FEAR OF HIRING OR DELEGATING
The story repeats itself: You have been in business for a while and your company has grown. You are finally making money and you have a customer base which loves and buys your products.
So far so good.
However, if you want to continue growing your company and reach six, seven or eight figures, you need help.
Trying to focus on operations, on the daily tasks, and on growth strategies at the same time becomes almost impossible if you are on your own. There is a time when things get so busy that you will most likely start experience burnout.
I wrote a post about how to know when it’s the right time to hire. You can read it here
But today, I want to focus on the fears that show up whenever you think about hiring a team, or even just one person to help you out.
If you have been thinking about hiring for a while you may have noticed that whenever you start writing a job description or just thinking about hiring you may feel anxiety, stomach cramps, and distress.
So what do you do to overcome the fear of hiring? Probably your reaction to these symptoms is to go back to work because that is what you should be doing right now to continue growing your business.
If you have been telling yourself the following:
- I cannot afford to hire someone!
- Who am I to hire someone?
Then you must know that this mindset is based on fear and it will not help you to grow your business. You’ll be stuck and probably revenue won’t get better.
So what can you do? Let’s dig deeper into these and let’s find out how to overcome the fear of hiring.
Fear number 1 ‑ I cannot afford to hire someone!
You may be looking at it from the wrong perspective. Think of the big picture. You can hire part-time. You can also hire people for an internship. Or you can hire people for even 10 hours per week. You can create hourly contracts as per your needs, you are not obliged to hire full time or even part time if you cannot afford it at the moment.
For example, you can hire a Virtual Assistant for a few hours a week to do customer service and admin tasks, which is where many time is spent.
Another solution to reduce costs may be: Hiring remote workers.
The advantages of hiring remotely are:
- Availability & Costs: Local talent may have a very high salary expectations for a bootstrapping startup. Also, availability can be low. Good talents are all taken by fancy companies and they are not so many talented people who work as a contractor or freelance or that actually want to do it. Many people still want to work for a company that pays them a salary at the end of the month and does the tax work for them.
- No need for physical office: If you’re just starting and need to keep your costs low you may not have an office yet. Hiring remotely allows you and your team to work from any location.
- Access to talent from any location: You’re not limited by local talent, you can access people from other countries who are really good and maybe better than the ones you can find in your city. You can find many people who are ahead of the curve (above average talent) easier than locally.
- People are more productive: Some people have this belief that remote workers are lazy. But that is far from the reality. If you hire a self-motivated individual you can be sure that the work will be done and that person will be even more productive working from home than working from a crowded office space.
The disadvantages of hiring remotely are:
- If you are thinking about hiring as employees instead of contractors, you may find that filing taxes and manage employment laws is a bit challenging. Some people solve this by always hiring as contractors their offshores employees or hiring through platforms that provide both parties with contracts.
Fear number 2: Who am I to hire someone?
This is a more complicated problem because it has its roots in your beliefs. If you are experiencing this fear, what happens deep inside you is that you believe that you are not worth to hire someone, that you don’t deserve it.
Follow these steps to help you overcome this fear:
Ask yourself: What is my goal? Why am I hiring?
Your answer may be: because I want to grow my business and double my income by the end of the year.
Ask yourself this question: Are the benefits of this goal worth to be temporarily uncomfortable?
Change your limiting belief by another that makes you feel more comfortable and confident. For example:
I am worth of hiring someone.
Whatever you are telling yourself doesn’t mean is the truth. Whatever you tell yourself every day will either lift you UP or tear you DOWN.
In most cases, this is simply a belief that you have created for yourself and that can be changed.
This is a process that can take some time so do not expect to overcome the fear of hiring from one day to another. But if you practice and change your beliefs to ones that are in YOUR favor, things will start to look more positive for you.
Give yourself some time to work on this and then go ahead and hire someone. It doesn’t have to be the perfect person, but by taking action you would have taken the very first step towards change.
I hope these tips help you overcome the fear of hiring. Let me know in the comments: Have you ever experienced this fear? What have you done about it?
TOO BUSY TO MANAGE YOUR TEAM?
I manage teams and projects so that you can focus on growing your business.
Related post: 4 Tips to Efficiently Manage a Software Development Team