I have a decent business in trash removal. Around 430 customers. Makes roughly 2,000 a week or so. I put in about 40 hours of labor and 10-25 hours a week depending on the week of the month I'm in. I know, my business has a period :P
I have a bookkeeper which costs me around 1300 a month so far. I think it will come down as they figure out my business and streamline their methods to fir y business. I also have to pay 1300 a month to the guy who I bought the business off of. Rent is 700, and gas a week is averaging 300. So I make 4400 (roughly) a month. (I hope I didn't just break some cardinal rule about money, but I just figured the more information I put, the higher the chances of advice that applies to me).
I know I need an employee to be able to grow and expand. I know I have to be making more than I am spending by quite a lot. I also think I am at the tipping point where I could get one and grow or stay the same and just plateau.
Do you guys have any sort of model that I should follow as far as how much I should have in the bank before I even consider an employee?
I have a bookkeeper which costs me around 1300 a month so far. I think it will come down as they figure out my business and streamline their methods to fir y business. I also have to pay 1300 a month to the guy who I bought the business off of. Rent is 700, and gas a week is averaging 300. So I make 4400 (roughly) a month. (I hope I didn't just break some cardinal rule about money, but I just figured the more information I put, the higher the chances of advice that applies to me).
I know I need an employee to be able to grow and expand. I know I have to be making more than I am spending by quite a lot. I also think I am at the tipping point where I could get one and grow or stay the same and just plateau.
Do you guys have any sort of model that I should follow as far as how much I should have in the bank before I even consider an employee?
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