As a business owner, it can be tough to know when to decide on expanding your team.
There are so many issues that businesses are confronted with as they try to grow their company, and it can all really feel overwhelming.
How do you expand your team without going over budget? Here are some of the most common reasons why people are hesitant to get an extra pair of hands, and an idea that just might help your business get out of this rut!
1. Inconsistent Sale Inquiries
If your sales are mainly referral based or through word of mouth, you can quickly realize that your sale inquiries are frequently inconsistent.
It’s not that you don’t have a great product or service, it’s that people aren’t always on a mission to help promote your business to their friends and family, right?
When relying on referrals to grow your business, you are very likely to not get enough work to sustain a new staff member, and end up burning yourself out.
2. Inconsistent Cash Flow
To top it all off, the clients you do have don’t always pay on time, which results in an inconsistent cash flow.
When combining these two issues, you are left with a very big mountain to climb in order to be able to grow your business.
3. Being Overworked
It can be very easy to overwork yourself when you’re working on something you care about.
Tasks quickly pile up, leaving you working until all hours of the night in order to get things done.
Now the trouble is that you are just making enough for your business to survive… You can’t take on any more work, but without taking on more work you don’t have enough funds to hire someone else.
It’s important as a business owner to have a healthy work-life balance, which may seem impossible to those who are currently working at 110% while also dealing with these workplace issues.
How do you break out of this chicken and egg cycle, and deal with all of the other issues at the same time?
4. It’s Too Risky
When you finally do come across some extra funds in your budget, it’s hard not to put that towards parts of your business that aren’t as risky as marketing.
Spending money with traditional digital marketing agency to get more sales is risky because you have to pay for high upfront costs with no guaranteed results.
Without much experience and industry knowledge, you are going to have a hard time managing the marketing agency to make sure they work in your best interest.
This is where performance-based marketing comes in to save the day because unlike other traditional digital marketing agencies, they only charge fees based on leads generated and online ads.
At The Coding Bull we even pay for your ads, which is unheard of in the digital marketing world, making it an entirely no risk involved process – no results means no fees.
The Coding Bull is a web design and performance-based marketing firm.
We hold ourselves accountable for the results of your personalized marketing strategy, and improve your business by getting you new leads and clients at a predictable rate.
With our website design department, we also build websites that generate more sales which showcasing your brand.
We’d love to work with you!