Home
>
Small Business
>
Entrepreneur to Employer

Entrepreneur to Employer

You make the decision to go into business and for some time work from home or in leased premises and your business starts to grow.

Like all businesses you experience growing pains. Cash Flow is sometimes tight, customers come in ebbs and flows but you continue to make progress.

You win a few major contracts and at the back of your mind you realise you need to make some important decisions for the future.

Your hours at work have been steadily increasing and the reason you went into business, lifestyle, more time with the children, sport, or whatever your passion is, these important parts of your life have been dropping off lately and you find yourself getting resentful. Take control!

So how do you make the jump from entrepreneur to employer?

Employing someone in your business for the first time brings with it obligations and responsibilities. It is exciting, has possibilities and can result in considerable reward! Do your planning and sums first before making the leap.

Some responsibilities you need to consider are;

1. Cash Flow
2. Work flow (customers)
3. Business plan and mission. value statement
4. Federal and State employment laws
5. Workplace Health & Safety
6. Insurances
7. Premises (do you need larger premises)
8. Business cards marketing, office supplies
9. Assets and Equipment
10. Your personal stress tolerances

1. Cash Flow
The old adage that 'cash is king' is true.

2. Work Flow
Do you have enough work in the pipeline to fund your business expansion and sufficient work and marketing processes to ensure the work flow continues.

3. Business Plan, Mission & Value Statements
Your business plan should be revisited to ensure that you are working in alignment with your medium to longer term objectives.

4. Federal & State Employment Laws
When you think about employing someone for the first time you must consider the employment laws.

5. Workplace Health & Safety
You must consider workplace health and safety obligations when employing someone.

6. Insurances
Have you considered insurances? Doctors, Dentists, Accountants and other professional bodies have specific requirements. Check these out!

7. Premises
Employing someone may result in your need to source larger premises or make alterations to your existing premises. Do your sums.

8. Business cards marketing, office supplies
Do you need to purchase business cards, new stationary, office supplies and what is the cost?

9. Assets and Equipment
Consider assets and equipment.

10. Your personal stress tolerances
Do not underestimate the personal stress that you may experience as the result of employing someone.

Take advice sooner than later and be encouraged. Many others have trod the same path and succeeded.

Finally employing someone is exciting and while there are challenges there are opportunities. Sales, Profit and more time for you can become a possibility and reality.

Just do your sums and plan your opportunity with eyes open.

Biz Momentum has helped a number of businesses with their transition to employer status. Speak to us today to see what we can do for you! WE can be your one stop shop.

Visit www.biz-momentum.com for other free helpful small business articles. For further information email phil@biz-momentum.com

Philip Lye is Director of Biz Momentum, Brisbane, Australia. He is a Certified Professional Human Resources Advisor and an Accountant. Biz Momentum provides strategic human resource management and employee relations advice to small to medium enterprises assisting them to grow their business. Training, Coaching, Consultation is practical and immediately actionable into your business. Biz Momentum undertakes international work and business coaching. See http://www.biz-momentum.com for more helpful articles or email Philip at http://www.biz-momentum.com for assistance

last minute cleaning help Arlington Heights ..

In The News:

NASA's twin ESCAPADE spacecraft launched aboard Blue Origin's New Glenn rocket Thursday afternoon from Cape Canaveral, beginning their journey to Mars with arrival expected in 2027.

Learn how to set email reminders on iPhone and Android so you never forget to reply again. Simple built-in features help you stay organized and on top of messages.

Discover how Apple's passkeys revolutionize Mac security by replacing vulnerable passwords with biometric authentication and encryption for ultimate protection.

New survey reveals 78% of parents fear AI scams targeting their kids, yet nearly half haven't discussed these threats. Learn why this dangerous gap exists.

Chrome now autofills passport and driver's license info automatically. Google's latest browser update adds official document support with encryption and user control.

Scammers impersonate Department of Veterans Affairs employees claiming veterans owe money, but real VA communications only direct to VA.gov or official channels.

The AltoVolo Sigma hybrid-electric aircraft flies 500 miles at 220 mph while operating 80% quieter than helicopters, featuring safety systems and compact design.

Google search scam alert: fake customer service numbers can give scammers remote control of your phone. Learn how to spot these traps and protect yourself.

Electric vehicles overtake gas cars in total CO2 savings after just two years of driving, with emissions benefits growing over time as power grids get cleaner.

Louvre Museum reportedly used "Louvre" as password for surveillance system during $100M jewel heist. Learn how weak passwords put even famous institutions at risk.

Bipartisan AI jobs bill from Sens. Hawley and Warner would require companies to report AI-related layoffs and hiring to Department of Labor quarterly.

Joe A. from Shelton, Connecticut, lost $228,000 to a ZAP Solutions cryptocurrency investment scam after his divorce, highlighting rising online fraud.

AI-powered autonomous trucks from Waabi and Volvo target U.S. freight driver shortage with Level 4 self-driving technology and NVIDIA computing platform integration.

Survive flight disruptions with expert travel tips: Book early morning flights, download airline apps and know your refund rights during service cuts.

Apple's iOS 26.1 update delivers major security fixes, performance boosts and enhanced privacy controls for your iPhone. Discover why updating now protects your data.

Russian hackers use fake CAPTCHA tests to spread dangerous malware targeting governments and journalists. Learn how to protect yourself from these deceptive attacks.

Stay up to date on the latest AI technology advancements and learn about the challenges and opportunities AI presents now and for the future.

Miami-Dade debuts America's first autonomous police SUV with AI cameras, drone deployment and real-time crime detection in groundbreaking law enforcement pilot.

Bank impostor scams cost Americans $2.9 billion as criminals use AI voices and caller ID spoofing to steal life savings. Learn nine essential fraud protection tips.

Foreign-owned apps secretly harvest personal data from seniors, making them prime targets for scams. Learn how to protect your privacy and stop data brokers today.

Sens. Josh Hawley and Richard Blumenthal introduce bipartisan GUARD Act to protect minors from AI chatbots through mandatory age verification and disclosure requirements.

Ghost-tapping scammers exploit wireless technology to drain accounts through small transactions, but RFID-blocking wallets and transaction alerts can protect you.

French pilot project demonstrates wireless charging roads that can deliver over 300 kilowatts of power to EVs while driving, potentially eliminating range anxiety.

YouTube's Ghost Network spreads information-stealing malware through thousands of fake videos offering cracked software, using compromised accounts and fake engagement.

Protect your privacy by disabling your smart TV microphone. Most TVs have hidden mics that listen even when voice commands are off. Learn quick steps to stop unwanted audio capture.

Entrepreneur to Employer

Small Business