Hiring a team is not the only way to grow a business. The traditional infusions into a growth based company have always been capital and labor.
However, companies nowadays are able to create massive valuations with very little investment and very little labor. It is quite possible to create a company with a million dollars in sales revenue under 3 years, with less than 10 employees. The proposition is surely a daunting one but I believe, it can be done.
When you hire a worker, you are suddenly piling up the complexity of the organisation. Every single new hire is an extra cog in the chain that needs to function efficiently, in order for exponential growth to happen. Is there a way to reduce the complexity overhead, without compromising on the final product quality delivered to your customers. Yes, there is.
It’s that simple.
If your systems are broken and you do not have a solid engineering process, no new superstar hire can change things. He or she will be just another cog in a broken machine. What is important is sytems and process, which forms the core of the company’s product. Decision makers should focus on high level strategy and designing a process that can scale rather than being involved in the day to day nitty gritties of making sure the team is motivated, hiring the right people, firing the wrong people and always being on the lookout for new members to bring into the team.
It is thought that the growth of your network is synonymous with the growth of your business. This is only partially true and effective, only when your network can create opportunities for revenue for you. Hiring is a direct bog down to moving forward with high value business partnerships and spending time in nurturing your customers.
Again, hire less and stay lean. That is the motto here!
We need to shift our time and focus towards strategy, process and product execution, with a secondary focus on generating revenue.