Starting a Business? Do This First (Before You Waste Time & Money)

0:01Hire with intention, hire with clarity and hire for culture as well as experience. Well, listen, we are talking about building a strong team and knowing when to hire. So hello, everybody. Welcome back to Brave Bold Brilliant. So today I want to talk to you about something that every entrepreneur, founder, business owner and leader in organisations eventually faces. And that's really about when do you hire, who do you hire first, and how do you actually build a strong team around you instead of just creating more stress, more chaos, and, of course, more overhead. Because here's the truth, right?

0:44A lot of businesses don't fail because the founder lacks vision. They actually fail because the founder tries to do absolutely everything themselves for far too long, you know. And actually, I'd also say this applies in the corporate world. So maybe you're in a business, actually running a department, a team, or maybe even a larger organization. And there is still that temptation for, you know, leaders to want to control everything, to be making all the decisions and to ultimately not be delegating effectively or have the right people to delegate to. So, you know, it's a really important topic.

1:19This is because at the end of the day, there are only 24 hours in the day. You are one person. And, you know, some businesses actually hire too quickly, maybe too emotionally or, you know, without the right structure. And then suddenly, you know, payroll can become a pressure because it is an overhead and that can then stunt the progress. So what I want to do today is to share some just honest lessons, really, from my own business journey, whether that's as an entrepreneur or as a corporate CEO. In the context of what works, what doesn't work, how to build your team and one that genuinely helps you scale up.

1:54So before I do that, though, I just wanted to say, you know, if we're not connected on social media, let's get connected. You know, you're going to find Brave Bold Brilliant pages all over LinkedIn, Facebook, Instagram, etc. But also my personal social media connections. So you can find me everywhere, Jeanette Linfoot, two N's and two T's. And of course, at Brave Bold Brilliant, we are building an incredible community of like-minded business leaders, founders, business owners, entrepreneurs, and actually those that are also, you know, building their own career from the bottom up as well. So we're super proud of what we do at Brave Bold Brilliant.

2:34Not only do we have incredible clients who we help scale up, in particular when we're talking about their teams and the strategy, etc. You know, but we also have this really rich community where we help other people, you know, whether it's through our podcast, Brave Bold Brilliant, or indeed our website. So get connected, follow Brave Bold Brilliant, you know, on YouTube, on Spotify, on iTunes, wherever you listen to your podcasts or watch if you prefer YouTube. And then, of course, do check out www.brave-bold-brilliant.com because on there you're going to actually find so many amazing resources that's going to help you with your leadership journey.

3:16So let's get into this now. Now, we've broken this down into easy sections. so that actually you can really approach this in a logical, structured way. Okay, so you might want to grab a pen and paper. You might want to take some notes. And actually, you know, if you are listening to this back, then absolutely make sure you'll share it with, you know, a colleague, with a friend, with someone else in your community that could really benefit from actually hearing this. So, you know, the first section really is around the biggest mistake that people make. And one of the biggest mistakes that I see from entrepreneurs, founders in particular, is wearing every single hat in the business for too long.

3:59Now, at the start, that's normal. And I have been there myself as well. You know, you're the sales department, you're the marketing department, your customer service, your operations, your finance. You know, you're the chief bottle washer and cleaner. And in the beginning, that hustle is necessary. and but eventually what's going to actually happen is when you start to build growth what helps you in the beginning is going to become the exact thing that stops the business from growing so you have to understand the life cycle of a business and where you are on that curve because actually you know there comes a point where your time becomes the bottleneck you actually become the blocker for growth not only in terms of where the business is going but also how your team and the people around you are able to develop in their roles.

4:51So you have to let go to grow. And if your business completely depends on you for every single decision, every email, every decision, every process, every customer interaction, then here's the hard truth. You actually don't own a scalable business. What you own is a very stressful job and you're nothing more than a glorified consultant. But a strong business needs infrastructure, it needs systems, and eventually it needs people as well. So that's the first part I wanted to really talk about, you know, just confront your own reality. And it always starts with us, it's always an inside job. But you know, once you've actually got the acceptance of where you are on your business journey, and on your leadership journey, you're then able to make some decisions and move on to the next steps of making sure that you have a fabulous team who are truly empowered, are super talented, and are able to actually be there on that growth journey with you.

5:51So section two, I say we broke this down into easy, manageable chunks, because let's not overcomplicate business, right? Let's really try to keep it simple. Keep it simple, stupid. You know, that really works, works exceptionally well. So section number two, So how do you know when it's time to hire? And I get asked this all the time. I'm fortunate enough to work with some incredible business owners, some incredible corporate execs, some wonderful people, whether it's working with them, their teams or them as individuals. And I often get asked this question. So it's a real can be a real challenge for people to decide when is the best time.

6:32And how do you know? Well, here's the biggest sign for you. You know, if you're constantly overwhelmed doing what I would call low value tasks, that is a sign. you know you're not you're not busy with the strategic growth if you're not busy building relationships you're not busy driving revenue but you're actually stuck doing repetitive operational work that somebody else could actually do you know then that's a big sign for you and a lot of founders think i'll hire when i can afford it and cash flow is always a consideration especially if you're a small business and you're actually on that scale-up journey but actually sometimes you can't afford not to hire.

7:12Sometimes you need to hire before you've got the growth, because if you don't have the resources, how are you actually going to be able to grow your business? But it is a really tricky situation. It's a case of chicken, chicken and egg to some degrees, because, you know, the longer that you actually stay strapped doing 10 pound an hour tasks, 20 pound an hour tasks, you know, that is not the best use of your brain, really. You know, the less time you spend making 10 ,000, 100 ,000, a million pound decisions, you know, and actually another major sign that I've got for you is if you're turning down opportunities.

7:49Now, this is one that I recognize fully, because when you actually were moving to the world of entrepreneurship in particular, there are opportunities everywhere. And you can really feel bombarded by that. It's a great thing to be in an opportunity rich environment. But if you're finding you're because you haven't got the resources, you're not able to respond fast enough, then that really is a big sign that you need more people, but you need better people. You need the right people. So it might be that actually you're not able to respond quickly. It could be that customer service starts slipping.

8:23Maybe your content, if you're posting on social media or any of the other platforms available, becomes a bit inconsistent. Maybe some of those sales leads are not being followed up properly. You know, and that's usually the business actually telling you that you've reached capacity and you need to do something about it. So it can be a wake up call. But, you know, here's something really important. Your first hire doesn't need to be senior. You know, too many founders think they need a massive corporate structure immediately. And you don't need that. You know, you really need to hire appropriately for the stage that you're at, but also with a little bit of stretch so that you can grow as well and you can remove that pressure.

9:08So, you know, often your first hire may be admin support, maybe operation support, might be a PA, could be social media, could be customer service. And you really look in here at this stage to buy back your time first. And then you're in a position to be able to scale up. So knowing when to hire is really important. And I would say, you know, the concept of this is also true within a larger corporate organization or a midsize organization, because you do naturally get to a place where the opportunities are outpacing the resources available to fulfill them. So the same logic applies. But what we tend to find when we're dealing with entrepreneurs and founder led businesses, which we certainly do, and we help many of our clients in this place, is often the real stress point around cash.

10:00You know, do I hire earlier in order to drive the growth or do I wait till I've got the growth to hire, which might mean that I'm not able to fulfill the obligation. So it's a tricky balance. But those are some of the signs for you. So super simple. And if any of this is resonating, remember, it's about what you do next. It's about taking the action that's important. Right. And of course, you might have people in your world, in your network who are facing similar challenges. So please share this episode, share this social media live if you're watching it live here with us as we as we put this out.

10:36So before we continue, I want to speak directly to those of you who are listening and thinking, I know I'm capable of more, but I need structure. I need some help. Because here's what I've actually learned after, gosh, more than three decades in business. You know, ambition without clarity creates frustration. And motivation without structure, it really does fade very, very fast. So that's exactly why we created Rise Academy. And Rise Academy, it's not theory. It isn't fluffy motivation, although you will be motivated. And it certainly isn't another online course that you never finish. It's actually a fully structured growth environment for ambitious entrepreneurs, leaders, and founders who absolutely are ready to do all of these things, sharpen their strategy, elevate their leadership, increase revenue with intention, and build businesses that actually support the life that they want.

11:43And inside Rise Academy, we focus on the foundations most people skip, leading yourself, leading your teams, and leading the business. It's about clarity, standards, decision making, commercial intelligence and execution. Because scaling, it really isn't about doing more. It's actually about doing the right things and doing the things right consistently. So if you're serious about stepping up into your next level of your leadership, your business life, and not just consuming content, but actually implementing it, then Rise Academy was absolutely built for you. So you can find all the details on our website.

12:24Go to www.brave-bold-brilliant.com. And now let's get back to the show. So section three. Well, this is a big one, actually. Don't hire for ego. it's a really important thing but it's another massive lesson you know don't hire people because it looks impressive or that you're actually hiring in your in your image you know and I say businesses with huge teams but terrible profitability and it's often because they've not necessarily hired the right people and sometimes founders you know they they want to feel successful so they can say hey, you know, this is the leadership team, I've got the big office, the payroll, the titles, et cetera.

13:14But smart scan is about hiring with intention, you know, hiring right and hiring the right person. So every person in your business, really, they should either be increasing revenue, improving efficiency or strengthening customer experience, because otherwise you're creating complexity instead of growth. And complexity, as we know, often kills businesses when we get over complex. So the strongest businesses are usually the ones with lean, high performing teams where every person understands the mission and adds real value. And that's where we see the biggest impact being made. So section four, what makes a strong team?

13:53I hear you ask. Well, what actually makes a strong team is it's not just about qualifications, although, you know, having experienced people that know what they're doing is obviously important. But one thing that I've learned over the years is you can teach skills, but you can't teach attitude. Now, I would rather hire somebody that's hungry, adaptable, proactive and aligned with the company culture than someone who may tick all the boxes, you know, on paper, but actually isn't going to fit, isn't going to have that growth mindset, isn't open to learning. so culture is really important here and of course the culture that you have created you want to nurture that and continue to grow your business at the same time as retaining those really important cultural aspects and that's so key when you're when you're actually growing because early hires shape the dna of your company and it's so so important you know the energy the standards the work ethic communication style and as a leader your team is a reflection of you so you know if If you tolerate negativity, low standards, poor accountability, then that's what you're going to get.

15:00And that culture is going to spread throughout the entire organization. So, you know, a strong team needs clarity and people need to know what success looks like, you know, what their role is, how they contribute to the to the bigger picture, what outcomes they're responsible for and where the business is heading. You know, because when we have confusion, a confused team becomes a very inefficient team. So it's so important that we actually as leaders are creating confident teams with clarity, with absolute skills and with delegating effectively. We're letting go to grow. And that's the final section on here actually I wanted to share with you.

15:39you've got to let go do not be the blocker for growth in your business and that can be a really hard adjustment for entrepreneurs in particular less so in a in a mid-sized business or a or a large corporate but still that can actually still be the case um but really in particular with entrepreneurs who have maybe started a business grown a business you know it's their baby and now that business is becoming a young adult you know they have to let go but it can be hard because it's emotional and it's often not logical. And what we often find, you know, is that founders might think nobody can do it as well as me.

16:17Does that sound familiar? And maybe initially that might be true, but if you never allow your team to grow, if you never give them the opportunity, then you are going to be stuck where you are. So delegation is absolutely essential, but you need to set people up for success, right? You can't just delegate, you know, without actually giving people the right tools, knowledge, etc, to help them be successful. But when you delegate, it doesn't mean losing control. It means creating those systems, the trust, the accountability. And also importantly, I would say, having the checking points that allows you to have that comfort.

16:56So, you know, you should not be the solution to every problem in the business forever, because eventually your role needs to evolve and you've got to start really you know by working on the business not in the business and that's so important as you scale up you know because when you work on the business you know you're almost like a helicopter you're up here hovering at the horizon surveying what's happening down beneath you know it could be the vision the strategy the growth the partnerships the long-term relationships that you're building and actually down on the ground is where the operations are happening, where your team absolutely need to be running their parts of the business as effectively as possible.

17:39And then actually, there are times when you need to land, you know, you need to land, get involved, maybe it's an opportunity that comes up that requires some specific attention from you, maybe it's a problem has occurred, or might be a crisis scenario that requires you to actually land, but then you must take off again, and be able to support the team in the right way, but also to be able to lead from the front, but with the big picture thinking that's required. So it is difficult sometimes, but we have this constant adjustment as leaders and as business owners. And that transition really is what separates small businesses from scalable businesses.

18:14So listen, I know we've covered a lot here in these five different sections, but it's so important. So if you're building your business right now, and you might be feeling a bit overwhelmed. You know, maybe this is your reminder that you don't need to carry everything alone forever. You don't have to have everything on your shoulders. You know, having the right team can completely transform your business. And I would say will most definitely transform your business if you do it in the right way. And you may not get every hire right. Sometimes you can do the best process, do your due diligence, and somehow it still doesn't quite work out with certain people and that's okay.

18:51But you must say farewell fast when that happens. OK, but when you build a great team and everyone genuinely has each other's backs, it's such a magical place to be. It really does make everything far more enjoyable as well as driving better performance financially. But, you know, mentally and emotionally, you want to be able to be proud of what you've achieved. And actually, you know, sometimes being an entrepreneur can be really lonely. It's lonely at the top. But building a strong team with great momentum, energy and support is going to really help you also enjoy the process and be proud of what you've created.

19:29But remember, here's a few final thoughts for you. Hire with intention, hire with clarity and hire for culture as well as experience. And hire when the business genuinely needs support, not just because you think you should. most importantly most importantly build a business that can eventually grow beyond you because that's really where true freedom starts so you know pop in any questions you might have in the chat and obviously I would love to answer those whether it's here now or later on so I've got some questions actually popping up here which I'm just going to read out do you think startups struggle to hire because they don't want to lower their personal income to pay the new hire.

20:15I think that is a very real challenge, actually, for business leaders, because you're so conscious around the cash flow, right, of a business. But here's the thing, this is where it's really important to have a plan, to have a clear business plan, even if it's only at a very sort of, you know, high level. If you know where your revenue is coming from, the plan for driving your revenue and the resources that you need, you're able to actually look at the top line revenue coming in, the overhead that you actually need to deploy, and therefore what the profitability is going to look like. But sometimes as an owner, you can bootstrap the business and may not even be taking a salary, actually.

20:54And they begin a scenario where actually a founder or an entrepreneur sometimes isn't paying, has to sacrifice paying themselves to hire someone on the team. And that is difficult, you know, because you should always want to ensure that you pay yourself first. But actually, if you get the right people, they're going to drive the growth. They're going to bring the revenue in. So it's often a short term kind of blip, really, in that cash flow journey. So, you know, any other questions, obviously, just let me know. Happy to answer them here live. Oh, here's another one. One second. So how much revenue do you think a startup should be making before hiring a team?

21:30What a brilliant question. Now, the answer is it depends. It depends. But, you know, I think you want to be able to be able to know how you're going to at least pay the team for the next couple of months. Right. So you want to have a little bit in reserve. But that doesn't necessarily mean cash in the bank. And it's great if you can fund the growth of your business through what you would call working capital. But it might be that you've got, you know, an overdraft facility that you can draw down. It might be that you've got some investor finance you can bring into the business. So, you know, there isn't a definitive number.

22:03But I would say if you can't see how you're going to pay the team and the general running expenses of your business for the next two to three months, then, you know, that might then be a little bit challenging for you and you might have to just hire in a different way. Could be that you actually, you know, you take someone on part time or maybe you use some freelance resources in the short term. So there are different ways. But if you never have the right people in the team, you're always going to strangle your growth. But it is it is challenging. But I think it's time to get creative as well.

22:36But when it comes to people, you know, it is a human to human relationship, clearly, but one that can be super powerful. But yes, you have to invest for growth. Absolutely. And that can often mean making some short term sacrifices elsewhere. So listen, thank you so much for joining today. I love the questions and I'd love to engage even more. So you might be listening to this back actually as a podcast episode. You might be watching it on YouTube, either live or after we've done this session. Any questions, please, please do drop us a line and send it to me on, you know, on a comment on social media.

23:13And of course, make sure you head to the website www.brave-brilliant.com and subscribe, you know, because join our community and you can leave us a message there as well. We have a dedicated 24 hour seven helpline where we're more than happy to come back to you. So, you know, if this helps you, as I say, let's get connected. share it with someone in your network another entrepreneur a business owner a friend that maybe is about to start a business and might need some help so and let me know in the comments you know what was your first hiring business and was it the right decision you know so we're here to help we are so proud of what we are achieving at Brave Bob Brilliant as a team as a community and you know when it comes to teams we offer a whole range of of programs where we support our clients, whether it's our executive edge program at the board level, deeply immersive three days together, or our leadership mastermind programs, which is really about bringing a team together.

24:11And we work with that team over six months to make sure we're there to support. So as we're talking about hiring a team, if you're interested in our leadership mastermind programs, reach out to us. We would love to have a conversation, see how we can help you. So whatever you're doing, remember it is by being brave and bold that you're going to unlock your brilliant and the brilliant in your teams and the brilliant in your business so whatever you're doing take care and i will catch you when the weather breaks i really hope you've enjoyed this episode of brave bold brilliant remember check out our new website www.brave-bold-brilliant.com you're going to find loads of resources on there that's going to help you with your leadership journey and with the businesses that you're trying to scale up and grow.

24:59So take care everyone and remember there are no limits to your growth but it is by being brave and bold that you're going to unlock your brilliance.