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Solopreneur Money

Feb 22, 2021

 In episode 24, you learned how to know when it’s time to hire a rock star and start building your band. Today you’ll learn what comes next. You don’t want to hire just any old rock star! You’ll want to put some thought into the kind of rock star do you need. Do you need a drummer? A bass guitarist? A band manager? 

You’ll also need to know the value of your time and more before you run off and hire that rock star. Listen to this episode to discover the steps you need to take to start your band. 

You will want to hear this episode if you are interested in...

  • Learning the steps to take to get your band started [1:32]
  • Building your vision of your ideal business [4:21]
  • Learning how to search for your rock star [7:24]

Step 1 - Know the value of your time

You need to understand the value of your time before adding anyone to your band. Many people charge by the hour so they already know the value of their time. But if you charge by the project or don’t know what your hourly rate is, then take your annual revenue from last year and divide it by 2000 (most of us work about 2000 hours per year). Go ahead and write it down. Actually, better yet, use my Building Your Band of Rock Stars worksheet

Step 2 - Create your vision

What is your vision for your business? Once you have a vision of what you want to be doing in your business it becomes easier to delegate the rest of your daily tasks. When your vision is clear your decisions are easy. 

Create a list of the things you do each day and the things you would do in the ideal week. The difference between the two is your opportunity cost. Write down everything that is on your plate that you would like to delegate to someone who is better at it than yourself. Could you pay someone less than your hourly rate to do those tasks?

Step 3 - Will you hire in person or virtually?

Do you want someone to come into your office and work or could they be anywhere in the world? Knowing this will help you narrow down your choices.

Step 4 - What kind of person do you want to hire?

Do you need a true rock star or just an average Joe? Do you need someone local, virtual, or even overseas? Do you need someone just to manage your emails and calendar or do you need someone who could effectively run the business while you are traveling the world? 

Step 5 search for your rock star

Now it’s time to find your rock star. Reach out to your network. Ask your friends. Ask around on social media. Listen in to hear how I found my rock stars.

There are two more steps in this process. Discover what they are by listening to this episode of Solopreneur Money. Also, make sure to check out the next episode with my guest Melissa Smith who literally wrote the book about how to hire a virtual assistant. I’m excited to share her wisdom with you guys.

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