Hiring: Why and When to Expand Your Team with Liz Jackson Hearns

This Multi-Teacher Studio May VCB is for anyone already running, or considering starting, a team-based business who hopes to find the perfect new addition to their team.

We’re gonna talk money, specifically hiring expenses and payroll ROI.

Here’s some terms we’ll be using:

ROI – Return on investment: The expected value the business receives in exchange for an investment of time, money, and energy.

COGS – Cost of Good or Service: the expenses that are directly tied to the sale of a good or service. COGS expenses only, and always, occur when the customer pays for the service. COGS can include credit card processing fees, teacher wages, shipping costs for goods, etc.

Why expand your team?

What fiscal value does the business receive in exchange for the expenditure of resources in hiring a new team member?

How long does it take to reach a positive ROI?

When do you expand your team?

When do you NOT expand your team?