HR and Investment for new business owners.

I was recently working with a Solopreneur on his business, and sales, strategy.
As we were looking over his future, we discussed employee needs, position needs and investing in the future via technology. The things we analyzed and
developed a strategy on were as follows...

1. Don't waste resources - Don't try to find a spot/work for a full
time employee, if you only need them for limited work. Finding tasks for them
to do that they aren't experienced in will cause issues. Pay someone that would
normally make $20/hr for 40 hours, $25/hr for 20 hours...many of these freelance workers want the freedom to earn extra money on the other time and
you save $300 + benefits per week.
-Critical: With this, you must also provide a very clear list of weekly
expectations in those 20 hours.
2. Find the person for the job description, not vice versa – Build a
clear job description the details what you need, then find the person that fits
that description, don't fit a description to a person.
3. Investing in the Future - Small businesses should be reinvesting
in themselves...resist the urge to consider all remaining funds at the end of
the year a bonus...reinvest anywhere from 50-80% back into the business to grow and create systems and processes to improve.
- This customer was discussing designing software and bringing on new employees...these should be planned well in advance and the profit from the prior year should be utilized to fund these ideas

Contact us for assistance if you're in a similar situation or thought process
hashtag#FractionalCFOInc
hashtag#FractionalCFOCincinnati