How to Know If You Can Afford to Hire Your First Employee

Your profit and loss statement can look fine, and your stomach can still drop when you think about hiring. I know that feeling, because it's exactly where I was the night I hired my first employee. I walk through the three methods I use to decide if a business can afford to hire: the look back method, the averages method, and the look forward budgeting method. I cover how profit and cash flow can tell two different stories, how much cash to have saved before hiring, and the real costs of bringing on a new employee beyond the paycheck. In this episode of CEO Numbers Network, I share exactly how to make that call with real numbers. You will learn what to look at before you hire, how to protect your cash flow, and how to move forward with confidence instead of guessing. If you have ever looked at a healthy profit number and still felt too scared to hire, this episode gives you the math to decide with confidence.   👉 Discover how our CFO services can help you build a hiring budget you can trust: here   Key Takeaways 00:00 Why You Should Hire Help 00:44 Danielle's First Hire Story 03:10 Method One: The Look Back 04:20 Method Two: Calculate Your Cash 06:54 Method Three: Build Your Budget 09:00 How Much Cash To Save 11:30 The Real Cost Of Hiring 12:22 Final Encouragement To Hire Confidently    Resources 📊 Download the free hiring worksheet from this episode. 💰 Build your own 12 month budget with the free template.    📈 Book a strategy call with Danielle's team at Kickstart: here    👉 Check your books here  👉 Visit the Kickstart website 👉 Follow us on Instagram   Listen Next 👉 The 4 Step CEO Reset Method for a Stronger Fourth Quarter 👉 Can AI Actually Replace Your Bookkeeper?