Forums: Discussions for entrepreneurs and small business.

Hi everybody! Nice to inmerse myself here again in this Forum.

I tried to search for some Q&A on this specific topic but I couldn`t find it.

If there exist, please let me know (link).

My situation is this. I`ve being a Solo Company for 2 years and I`m now on a situation that I`m overwhelming by job. I start my day 6am to organize the day, driving the city until 9~11pm, say goodnight to my family, so stressed and tired.

But that`s not the main problem (I can handle that) the problem is I can visit customers after 3~6 days after the call me, that`s my volume of job. And I am a very reliable and prompt person and I`m loosing this because I try to help customers and I just can`t.

So, after months trying to convince a friend of mine to be partner and give him all my surpluss jobs, I`m wondering also I will need an employee to handle phone calls, papers, and some service job.

And that`s my scare part also because, if yes the job is abundant, I`m still think that I couldn`t handle a payroll just yet. And dealing with people is my other "stone on the walk".

Could someone give me her/his own successfull experience on this?

Thanks in advance.

I`ll just toss it out here, what about a virtual assisant? I mean phone calls, paper work, etc, is that something a virtual assisant could do, or even a regualr assistant? My wife and I found out quickly that you as an owner are not super hero`s were all human. If your abilities are best served "out in the field" then thats where you should be. Yes you have added tasks as an owner, but you simply cannot do it all. Yes it takes a bite out of your revenue but it keeps you sane in the long run. My only advice is to figure out if you want actual employees (you pay taxes) or 1099 your employees (they pay taxes). For us, we have employees and pay dearly for it, they are NOT cheap.

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He who gets greedy like a pig, gets slaughtered like a hog!

If I am hearing you correctly your worklife balance is suffering as a result of the time you need to focus on growing and running your business.  Not only are you suffering, but your family and now clients are being affected by the amount of work and hours you are pouring into your company.  Congrats on your growth – but with that comes the need to decide on where you should be focusing your time.  Investing in someone to assist in the administrative tasks that are currently overwhelming you is a smart business move.  However, hiring a full time person is not cost effective for a small business as the overhead that is attached to this can substantially affect your bottom line.  There is an alternative solution in working with an online business manager or on a smaller scale a virtual assistant, just as Todd mentioned above.  Have you had an opportunity to make a list of the tasks that would be an asset to have some assistance with?  I`d be more than happy to help you with this if you would like.  There are an amazing amount of benefits using a VA which allows you to pay by the hour for professional services that you may otherwise not be able to afford if approaching on a full time basis. 

Good luck!

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Tracey and Cheryl
tgentili@beyondtheoffice.ca
"Perfection, professionalism and integrity - partners in your success."

Yup, sounds like a job for an independent contractor---a virtual assistant. You can let them know that you`re in the startup phase, you`d really like to have them long term, but because of your uncertainties about ongoing income, they might not work continually. Not a problem for a VA.

Sorry for the delay to answer you guys (did you see?...time!) and thanks for your input, they bring me new ideas, new choices.

I`ve got a friend of mine that wants to join me as a partner, but hard to convince him to jump from a employment when he has 3+1 kids and his wife to support (she can`t work, 4 kids IS a Company).

I told him THAT is the very reason he must jump to grow by himself, but this is a shoe no anyone wants to use.

A partner for me is the inmediate solution since I can share with him all my extra jobs I have, I can inject advertising, take a time to bring more customers by harvesting references that I`m not exercising, and grow together.

A partner means for me: brain-storms new ideas, win-win scenario in all the mean, for us, for our customers that are suffering a long time wait for service, my friend will do more income than working the same amount of time (extra hours, never a vacacion) working for himself, we all know this.

Paper still have to wait as a second priority. Then I think, after run a while as partners and also polish diference between us that I know might arise, I will consider again to hire someone else, because my type of business requires Hight Tech Computer guy and its payroll start at $3k/month as a minimum.

Yes, you guys are right. An employee is not yet the right decision to make.

At the other hand, get outsourcing on phone or paper (VA) won`t help too much, because I need someone actually ON THE FIELD instead of me to do it. I can handle calls, but I can`t help them (customers) all.

That`s where partner come along for me.

Also I hear always everywhere: employees don`t care for the business as a partner will do. An employee aim to his/her payroll (99%) and probably a little(1%) how he/she can help to grow the Company where belong. And that scenario won`t help me too much, at contrary.

Partner for the other side, I think, he/she will aim to both ends (50%grow, 50% profit) .

I know there always exceptions to the rule, but I know my friend is almost a brother for me and we both know we won`t do anything to hurt each other, including in business.

Now that you help me to see new points, new questions arise:

How much should I push a friend to join this `adventure` since every decision in lifes is a PERSONAL win/loose situation?

For me, the worth scenario would be to come back and get a job and pay debts (doesn`t it sound familiar?) and THAT is not a choice.

But not everyone think in that way. Even my friend wants to grow, but...seems no strong enough emotion, or pain.

And after months pushing him (in all the positive ways only), I think, it`s time to let him go on his own direction and look for new partner.

mh...

Nowadays, with Social Security flat broke and in debt, likely to get worse, then with outsourcing, layoffs, lack of any stability in the corporate world, and buyouts taking place everywhere, what`s the retirement scenario?

So you invest in a portfolio, or an IRA, or you have a pension fund. What happens when that gets shut down, turned off, or simply removed? How do you really plan for a retirement when people are living longer these days?

In my opinion, owning your own business---or a share as a partner---gives you a whole lot more control over all these long-term factors than having an employee job. It`s nice when you`re young, and you can afford the risks. But for the long-range future, I think most people are starting to realize the classic old platitude: If you want something done right, do it yourself. And that means managing your own long-term employment option.