Have a plan & Do The Math.
If you want to turn your business into a family affair, do the math. How much extra business will you need to make sure your grandchildren don’t grow up in your basement?
Overwhelmed and ready to hire some help? First, do the math. Extra help can be a godsend! But as you train them, your own productivity will drop which means your day will get longer. How much will their salary set you back each month. How long until that hire is breakeven? And don’t forget taxes.
Passing on work because it’s just outside your comfort zone? Do the math, and make an offer. You may find someone would rather pay you a bit more because of the reputation you’ve established and the relationship you’ve built. That extra cash could make it worth the learning curve.
Got any other examples of times when we should really ‘Do The Math’ first? Share them in the comments below!