Build Your Business: From Fear to Freedom

Hiring Your First Employee: Key Considerations for Entrepreneurs

Episode Summary

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.

Episode Notes

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

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