Build Your Business: From Fear to Freedom

Hiring Your First Employee: Key Considerations for Entrepreneurs

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Hiring your first employee is one of the biggest decisions you’ll make as a business owner. In this episode of Build Your Business, Matt and Chris Reynolds explore everything you need to know before making that first hire—from financial readiness to ensuring a strong cultural fit.

Are You Ready to Hire Your First Employee?

Hiring too soon—or without the right systems in place—can do more harm than good. Matt and Chris explain:

  • Why you should have 6 months of payroll saved

     
  • How to identify tasks you should delegate

     
  • The importance of onboarding systems and SOPs

     
  • Why time commitment—not just financial readiness—matters

     
    • Financial Readiness: Are You Prepared to Pay Your First Employee?

    Hiring involves more than just writing a paycheck.

    • Understand the full cost: salary, taxes, benefits, admin expenses

       
    • Model how hiring affects your financial forecasts

       
    • Have a cushion for months when the hire isn’t yet generating ROI

       
    • Avoid financial stress by staying prepared

       
      • Hiring for Skills and Cultural Fit

      It’s not just what they do—it’s how they work with you.

      • Hire for skills and shared values

         
      • Be clear on the role and expected outcomes

         
      • Weigh the pros and cons of hiring someone you already know

         
      • Focus on long-term compatibility, especially in small teams

        • #Entrepreneurship #HiringTips #BuildYourBusiness

        PS - 
        Coach Smarter, Earn More: https://bit.ly/3X4ixOX

        Matt's Links
        Website: https://ryanmattreynolds.com/
        Instagram: https://www.instagram.com/reynoldsstrong/?hl=en

        Chris's Links:
        LinkedIn: https://www.linkedin.com/in/chrismreynolds/

         

        See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

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