Building a team: Is it the right time for your business?

One of the biggest and scariest leaps as a business owner is transitioning from startup solopreneur to building a team. It’s a critical step in creating a successful, scalable business, but how do you know when it’s the right time for you? 

In a perfect world, you’d have your dream team in place from day one. Everyone has specific responsibilities and you step into your role as the leader as you all take the world by storm… 

But that’s not the reality of most businesses. Unless you have a huge pot of start-up funds or investors backing you, you will probably need an initial level of success and income before you can start scaling, which also comes with growing pains and finding your feet. 

Not only has Virtually Priceless gone from solopreneur to a team of 30 in our first six years of business, but we also regularly work with clients to recruit the right employees and build successful teams.

That’s why we know how to work out the right time to scale your team – and how to best approach it. So, if you are a startup and solo entrepreneur looking to grow your business, keep reading… 

When is the right time to build a team?

If you have big plans for your business and want to grow now or in the future, you’ll know that you need a strong, supportive team behind you to make it happen.

Picking the right time to hire is not as simple as when you have the budget for it. Although that’s an important factor, many other signs indicate you need support from extra team members, including:

• An overwhelming workload and consistently working long hours – you’re the CEO of everything 
• Growth opportunities are being missed due to a lack of time or resources
• Repetitive tasks consume too much of your focus and prevent you from that all-important strategic thinking
• An inability to maintain a work-life balance, potentially leading to burnout

If you’re nodding along or can see you’re fast approaching any or all these stages, you are definitely ready for some help in your business.

Step-by-step process to building a fantastic team

Great. Now you know you need a team, but where do you start? 

Follow these steps to ensure you get great candidates in your team and reach your business goals. 

1.    Identify the key roles you need to hire for 

First, you need to identify the key roles to fill first. Start with the positions that will have the most immediate impact on efficiency and growth, and that will likely include freeing up YOUR time so you can focus on those more strategic growth elements. 

You should assess your daily tasks to see where you’re spending your time and then identify what can easily be delegated.

This will likely include administrative tasks, customer service responsibilities, and so on… all of which can be the most overwhelming and time-consuming yet necessary tasks within a business. But the good news is they are all easy to delegate. 

You will need to decide whether to hire a contractor or employ, depending on your situation and specific needs. Bear in mind that if you employ straight away the costs will be higher as you’ll need to factor in benefits, holiday, sickness, equipment, and so on. You’ll also need to be properly protected with employer liability insurance, have contracts in place, and have a full set of policies across various aspects of the business to protect both you and your employee. 

However, if you opt for hiring an experienced and skilled VA, the help is affordable and flexible, as you can dial the support up or down while you grow. If you work with a contractor, even on an interim basis, they can help put all these things in place for you and assist with your entire recruitment process. 

You may also have identified the need for specialised skills to support your business growth, such as marketing strategy, finance, or IT. After you’ve got initial help in place to reduce your workload, hiring for these specialist roles should be your next priority…

2.    Hiring and selecting the right team members 

Once you’ve decided which role you need to fill first, and whether you’re looking for a contractor or employee, the next stage to move on to is hiring them. This can be a time-consuming step, but there are plenty of tools and systems to streamline your recruitment process, so it’s less stressful and more productive.

To find the right team member, you will need to:

• Develop a clear job description outlining the responsibilities, skills, and qualifications required.
• Use your network and trusted platforms such as LinkedIn to find candidates. Referrals are the ideal way to meet prospective candidates, particularly if they come from someone you really respect and trust.
• Conduct thorough interviews to assess cultural fit, communication skills, and alignment with your company values.

Once you’ve found the right person, you need to ensure they have a great onboarding experience and receive the right training to set them up for success. 

If they are your very first hires, it’s a good idea to be honest that some of these things are likely being put together as you go and you need their feedback on the process to improve it for the next hire. Be clear and honest about the culture, too. If you expect them to roll up their sleeves and do things slightly outside of their day-to-day while the business grows, let them know.

3.     Delegate tasks and trust your new team

Once you have your new hire on board, you must learn to delegate effectively. For our founder Holly, she admitted this was a real challenge. After many years of experience being a senior EA, she had slight control-freak tendencies and struggled to let go.

However, once Holly realised she had the support of a highly skilled team, she says, “I learnt to let go and trust them to get tasks done to at least my standard, and often better.” 

The key is to delegate gradually, ensuring that you communicate clearly, set expectations, and provide feedback along the way. Business leaders need to focus on high-impact activities while trusting their team to handle other tasks that need to be done. 

Scale and adjust as you grow

Once you have your first hire in place, you need to regularly evaluate your business and your team’s performance, and continue to identify your next hires. Flexibility and adaptability are crucial as you continue to scale. 

We recommend monthly reviews in the early stages, and quarterly reviews as you find your feet, where you ask yourself: 

• Where is additional support needed?
• Are specialised roles required?
• Does the team structure and their responsibilities need adjusting to align with the goals of the business and market demands?

Hire the right team to go from solo to scaled… 

Remember, building a team is a critical step in transitioning from a solo operation to a successful, scalable business. Don’t be afraid to take that leap of faith – the right support can propel your business to the next level.

Here’s a quick recap of the key points we’ve covered, so you can hire the right people at the right time: 

1. Recognise the signs you need to build a team
2. Identify the role (or roles) you need to fill first
3. Consider whether an employee or contractor is the best fit for your business
4. Think carefully about your hiring process and how to find good-fit candidates
5. Ensure you are delegating effectively and building trust once they start with you
6. Continue to regularly review and evaluate your business to identify the next roles you need to fill, or team changes you need to make

If you want any advice around establishing if you’re ready, or how to get started, get in touch. We’re happy to discuss your situation so you can hire the right people to grow your business.