Business owners hire people to help them handle the workload and grow their business, but when does the flip happen when the business owner is making a growing revenue vs the bulk of the money going out to employees and other business related expenses?
This question can be mind boggling and really hard to understand.
You’re paying your bills, mostly, sometimes barely. You’ve gained more work, but you need help (energy) accomplishing your jobs. You are human so you are exhaustible. You hire. You get some relief and you pay the worker. You gain more customers. You hire another worker. The workers take home more money than you do, because you are footing the expenses of running the business – marketing, equipment, training, etc (you fill in your expense blanks). You aren’t overpaying the workers and want to pay them more. You aren’t underpaying them, but you want to pay them more. If you bring on more work, then you have to bring on more workers. In many scenarios the workers will be paid while you take less and less home as you grow in jobs, but decrease in finances.
To break out of this cycle and begin to have “the flip” where you, the business owner, are successfully and consistently able to increase your customers as well as your own personal pay, so you are stable and thriving, start thinking like this:
What can I do to increase efficiency and reduce hours to complete a job so my workers are exerting less energy while doing more, without sacrificing results for the customer/client, and instead the customer is gaining better results, too.
Start brainstorming every avenue of where your time, money and energy are going, for yourself and your workers.
If you need help or examples to think this through, then let me know in the comment section.
If you have provided service to business owners, or been employed by them, what insight can you shed on the subject of how and when “the flip” happens.