#17 - Can You Afford to Hire an Employee?

Episode notes

Healthy businesses have an established business model in which most new incremental hires produce profit for the business. Payroll expense can be viewed as an investment that yields a profitable ROI. Usually a hiring decision boils down to a question of how much more revenue do you need to sell in order to afford a new hire. This episode helps answer the question of whether you can afford to hire an employee. More specifically, this episode includes: Viewing Employees as Profit Centers Return on Investment vs Affording a Hire How Much Do You Need to Sell to Afford a Hire? How Much Does a Salesperson Need to Sell to Pay for Themself? How Much Must the Business Grow to Hire a Manager? Labor Value Multiple Forecasting; Fixed & Variable Costs Download the employee Hiring ROI Workbook using this link Send us Fan Mail Thanks for listening! Host Cal Wilder can be reached at: cal@empoweringhealthybusiness.com