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LEARN HOW TO START, RUN, OR GROW YOUR CREDIT REPAIR BUSINESS

When should I hire my first employee?

By: Daniel Rosen May 04, 2021

Now that you’re a full-fledged Credit Hero, you’ve launched your own credit repair business from nothing, grown your business by building your reputation on CHANGING LIVES...

You’ll probably start to wonder ...

“At what point should I hire my first employee?”

It’s an IMPORTANT question, and so many of our Credit Heroes have wondered the same thing! 

You want to make absolutely sure that you wait until your business is completely set up but you also don’t want to wait too long, and risk stunting your growth!

So today, I’m going to share with you my When to Hire Framework  I’ve used my secret framework to mentor tons of Credit Heroes (many have even gone on to become one of our 40+ Millionaire’s Club Members!).

 


First, learn ALL areas of your business

Before thinking about hiring your first employee, it’s really important that you learn ALL areas of your business. 

After all, you’ll be the one who will put processes in place for someone else to be trained when you’re ready to step out of those areas. 

Learn the processes BEFORE you hire!

You’re the one who will train your new employee on how to do it all! 

So, once you know the business inside and out - is it time to start hiring? 

The answer is … It could be!

Before deciding, there are a few questions you should ask yourself. 

  • Do I have enough clients to support paying this employee?
  • Do I have enough work to keep them busy?
  • Do I have processes in place so they’ll be successful?  

Too often, Credit Heroes hire before they have enough clients and end up with very stressful cash flow problems. 

On the flip side, if you wait too long your life and business could suffer because you’re wearing too many hats! 

So here’s what I’ve learned through years of mentoring Credit Heroes and my When-to-Hire framework. 

You may be ready if you can say YES to ALL of these areas:

  1. Are you an expert in credit repair*?

*This means you’ve completed the Credit Hero Challenge and most likely our Masterclass, too! 

You’re certified in disputing and you really know the ins and out of the business. 

  1. Is your annual (revenue) $30k to $100k? 
  2. Have you quit your 9-5 and run your business full time?
  3. Is your primary focus lead generation but you struggle to have enough time to really dedicate to it? 
  4. Is your biggest question, “How do I get ahead?” since you feel like you’re doing as much as you can by yourself?
  5. Are you ready to free up your time so you can execute marketing and sales strategies? 

If you can say YES to each one of the above, congratulations! 

Once you know you’re ready to hire, keep in mind ...

  • I recommend you start by hiring a VA or family member to help you with the day-to-day tactical work. 
  • And, if you wait too long and you’re making more than $100k annually WITHOUT hiring help, you risk losing your business’ ability to scale. 
  • As you grow, you’ll hire more and more employees and leverage their work and expertise to grow your business! 

Over time, your goal is to delegate all of your work to your team so you can be the face of the company, focus on the things that really move the needle, and maybe even become a Millionaire’s Club member too! 

And if you’re just dabbling and ready to get serious about owning your own business and being your own boss, I’d like to invite you to join the Credit Hero Challenge. 

I’ll hold you by the hand as you launch your very own credit repair business, all for less than it takes to bring your family to McDonald’s for dinner, go to CreditHeroChallenge.com and join today!

We’ve got a new one starting soon, but you’ve got to get in quick before doors close -- otherwise you’ll have to wait for the next one!


 

 

Be sure to subscribe on your favorite platform below!

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Topics: Podcast

Transcript

0:00  

When is the right time to hire your first employee? This is a question I get all the time from Credit Heroes, and it's one that is really important to think about before making a decision. See, after helping 1000s of people just like you to launch, build, and scale their credit repair businesses from nothing, I've discovered the secret to knowing when you are ready. In fact, almost 40 of the Credit Heroes that I've helped have gone on to become our Millionaires Club Members, after earning over a million dollars in their Credit Repair Cloud. For most of them, knowing exactly when to take on their first employee, and when to grow their team, that felt overwhelming too. And I get it! It's a dilemma! If you wait too long, you can stunt your growth, and you can feel overwhelmed. And if you're hired too soon, you might not be set up for that person to succeed or to even be able to pay their salary. And that would suck! So in this episode, I'm going to share with you the secret that I learned and my When to Hire Framework so that you can confidently make decisions that allow you to grow your business and change a ton of lives. So stick around! 

 

So the big question is this. How can we take our passion for helping people with their credit and turn it into a successful business without taking loans without spending a fortune by bootstrapping it from nothing, so we can help the most people have still become highly profitable? That is the question, and this podcast will give you the answer. My name is Daniel Rosen, and welcome to Credit Repair Business Secrets.

 

Okay! If you are new to my podcast, be sure to click to subscribe, so you don't miss a thing. And if you want me to hold you by the hand, as we launched your very own credit repair business in just a couple of weeks, go to creditherochallenge.com. Okay. Now, before you think about hiring your first employee, it's really important that you learn all areas of your business and put processes in place for someone else to be trained when you're ready to step out of those areas. Why do you need to learn all this before you hire? Good question! It's because you're the one who is going to train your new employee on how you do it all. But for the sake of time, let's say you know the business inside and out. Is it time to start hiring? It could be before deciding there are a few questions that you need to ask yourself. Do I have enough clients to support paying this employee? Do I have enough work to keep them busy? Do I have processes in place so they'll be successful? Too often Credit Heroes hire before they have enough clients, and then they end up with very stressful cash flow problems. Now on the flip side, if you wait too long, your life and your business could suffer because you're wearing too many hats. So here's what I've learned through years of mentoring Credit Heroes with my when to hire framework. If you can say yes, to each one of these areas, you may be ready to hire your first employee, a VA, or a family member to help you. So here are these questions. Are you an expert in credit repair? This would mean that you have completed the Credit Hero Challenge and most likely are masterclass as well. You're certified in disputing and you really know the ins and the outs of the business. Is your annual revenue $30,000 to $100,000? Have you quit your nine to five and run your business full time is your primary focus, lead generation, but you struggle to have enough time to really dedicate to it? Is your biggest question "How do I get ahead?" since you feel like you're doing as much as you can by yourself? Are you ready to free up your time so that you can execute marketing and sales strategies? If you can say "yes" to each one of those criteria, then congratulations, you're ready! And I recommend that you start by hiring a VA, or a family member to help you with a day to day tactical work. And if you wait too long, and you're making more than $100,000 annually without hiring help, then you risk destroying your business's ability to scale. As you grow, you're going to hire more and more employees and leverage their work and their expertise to grow your business. And over time, your goal is to delegate all of your work to your team, so that you can be the face of the company to focus on the things that really move the needle, and maybe even become a Millionaires Club Member too. And if you're just dabbling, and you're ready to get serious about owning your own business, and being your own boss, I want to invite you to join the Credit Hero Challenge. I will hold you by the hand as you launch your very own credit repair business, all for less than it takes to bring your family to McDonald's for dinner. So go to creditherochallenge.com and join today. Because we have a new challenge starting very soon, but you've got to get in quick before the doors close. Otherwise, you're gonna have to wait until the next one. And if you're finding value in the things that I'm sharing on this podcast, click below to subscribe. And if you're feeling kind, rate me, give me a review, give me a thumbs up because I can use all the help I can get. Okay? And I will see you on the next episode. And until then, keep changing lives.

 

Want more credit repair business secrets? Then get a copy of my book, The Ultimate Guide to Starting a Credit Repair Business. Get it free at creditrepaircloud.com/freebook. Inside this book, you'll find my top 35 secrets to removing items from credit reports, and turning that into an amazing business that helps people, changes lives and makes you a great living in the process. Get it free at creditrepaircloud.com/freebook.

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