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