Shifting Perspectives: Hiring as an Expense or an Investment

Charting Your Course Beyond the Horizon

Welcome to "Charting Your Course Beyond the Horizon," a Blue Ocean Podcast hosted by Anna Seto Garin and Della Garbage, the co-founders of Blue Ocean OBM, an online business management company. Join them on their podcast as they explore the ever-changing landscape of the online business world, sharing insights, tips, and strategies to streamline operations and find your blue ocean of success.
In this episode, Anna and Della dive into the thought-provoking topic of "Hiring as an Expense or an Investment." As entrepreneurs, one of the common challenges faced is how to afford the help needed to grow their businesses. Inspired by a blog post by Tina Forsyth, the hosts examine the contrasting mindsets surrounding hiring.
They begin by discussing the expense mindset, where entrepreneurs view hiring as a cost, focusing solely on the money going out the door. Anna and Della highlight the benefits of considering contractors instead of employees, emphasizing the cost-saving advantages and the freedom it offers for both parties.
Shifting gears, they introduce the investment mindset, encouraging entrepreneurs to see hiring as an investment in the growth and success of their business. They explore the concept of team members bringing value and contributing to the business's financial growth, even if their role is not directly tied to client acquisition. By delegating tasks and freeing up the CEO's time, hiring becomes an investment that allows the business to flourish.
The hosts also emphasize the CEO's choice between focusing on back-end tasks or prioritizing growth-oriented activities. They stress the importance of CEOs prioritizing growth and highlight how hiring virtual assistants (VAs) or online business managers (OBMs) can help delegate responsibilities, ultimately giving the CEO more time to focus on business expansion.
Throughout the episode, Anna and Della draw on their own experiences, including their successful collaboration, where hiring a virtual assistant played a pivotal role in scaling their business and preparing it for a sale.