how to hire an employee as a single member llc [Expert Approved]

Last updated : Sept 21, 2022

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what's up youtube family it's prince donnell the founder of jumping jack tax franchise i appreciate y'all for watching another video on the five rules of a ceo before hiring your first employee this is going to be a really cool and quick segment for all of my new business owners that are out there or aspiring this should really help you but before i get into that first things first i just want to shout out our 67 000 subscribers in our family right now we are growing at a very massive rate and i thank all of you for watching the videos our most recent video on the five bank accounts that you should open before starting at llc just hit 100 000 views and i can't be more excited that so many are watching these videos and getting this knowledge and hopefully you're applying this information to your business so thank you all so much from the bottom of my heart and my team here club content uh we're putting out so much value and we just thank you for for listening to this information lastly if you need your taxes done or you need life insurance as you know i own a franchise so we can help you with your personal taxes your business taxes uh we also do bookkeeping and we also assist you with getting a life insurance policy because as you know i talk about life insurance and how valuable it actually is so if you need any of those things you can send a text send info to 267-765-5749 text info to 267-765-5749 if you need personal taxes uh business taxes bookkeeping or life insurance you know my team and my company would love to assist you and provide you with value all right at jumping jack tax if i've provided you with any value i would love to exchange the service with that being said let's go ahead and get into it and if you uh if you if you love this video at the end please like comment and subscribe if you love this video because i'm going to be dropping so much more for you as an aspiring new entrepreneur so let's get into the five rules of a ceo before hiring your first employee as you all know i am not the traditional uh teacher i don't just talk about the laws behind things i like to do what's called business finance really give you the financial side of what you should be looking at but also give you the real life understanding of an entrepreneur and the things you got to do and maneuver through in order to get to a place where you can hire where you can provide opportunity where you can grow where you can indeed do this full time so i bring a different route to this and i'm going to bring a different route to this one as well so let's go ahead and get into it uh first things first right when we talk about hiring i need you to get into the framework that there's going to be a point of time where you're going to have to do this yourself before you could begin bringing other people on and there's nothing wrong with that i think many times we like to jump the gun and we like to try to hire quickly and you know i got to do this and that because this is what the books told me the textbook doesn't matter right because you got to remember the textbook is talking about businesses that have funding okay and a lot of times with me as an african-american specifically we have underfunded businesses meaning that we can't get funding from central banks we don't get funding from investors a lot of times that type of funding is locked up for individuals like us and i don't make excuses for that but that's just how central banking works so so if you're watching this and you have an underfunded business the textbook may not work for you with them telling you that you need to hire right here on the spot and do this you don't got the money to do it so you got to stretch yourself to capacity and you have to do it yourself and you have to build your own funding through your own sweat equity in order to have the ability to hire and by the way hiring is a privilege because the individuals that are coming to work with your company it is a privilege and it's an honor because they have the ability of working anywhere and they chose your company specifically a small business when they could have went to a more corporate environment that is more structured that has more longevity uh that has benefits all of these things so i need you to get and get it in your mind today that it is a privilege and that you are not some type of god or this or this uh whatever this thing is that goes across the internet right now where we try to downplay individuals who work nine to five i need you to understand that if you possess that type of mindset you're never going to have people on your team that love and appreciate you and are willing to go off of a cliff with you so please change your mindset that's first because i hate what i see on the internet with all of that information about nine to five it just it it boggles my mind anyway off on a tangent back to that let's go into number one of these five steps first things first is p l w uh dan what was p uw push yourself learn the process and write it down push yourself learn the process write it down just to take it back to what i said in the beginning you're going to have to push yourself to capacity because you have an underfunded business so you have to put your sweat equity in and you're going to have to stretch yourself in when i originally started my business i didn't have anybody at all right i had to push myself i had to literally do everything i had to be up late nights sometimes until two o'clock am in the morning answering emails being custom like listen to me i was the email person i was the customer service person i was the sales person i was the shipping person everything and and it seems like a lot but hey you got to do what you got to do and push yourself so that you can get the enough equity that you need to be able to hire somebody now l is for learning the process as you're going and pushing yourself you're going to be learning this process you're going to be learning the things that you like the things that work and the things that simply don't work you're going to learn certain processes that you can probably hire somebody for and you might say okay this part of the business i can hire somebody for because if i focus more of my time on this side of the business this is what produces more revenue so the way that i see it when we talk about learning the process is that i more so like to focus on the part that earns where where's the money being made i need to focus more attention there and then i hire somebody with uh for a task that they can take off of my hand so i can focus more time on more revenue right so i'm learning the process and as i'm pushing myself i'm doing that and then the w side is to write it down so that process that you now are going to begin hiring for over time and that you carved out and said this piece right here is what i need a position for so i can focus more on the money side i'm going to start writing down that process as i'm working it so the way that i'm doing it i'm going to write it down literally how many times i blink how many times i breathe how many footsteps did i take so

Thanks for your comment Sylvie Chicalace, have a nice day.
- Georgia Ercolani, Staff Member

my gross revenues when I joined how to manage was 421. 421 421 000 a year was my previous year gross my staff was me a legal assistant which was my daughter with no prior experience I'm a stranger of about a year snatched her in just because of kovich started with me because of covet but prior to that I had always had one part-time legal assistant and I did all of my drafting all of my legal work I had not advertised at the time I joined how to manage it had been in practice since 2009 and the first year maybe a year and a couple months I advertised but since two since then I've been 100 referral base for over 10 years with just me and one part-time Legal Assistant so I I just know that it was time for me to gain some sanity some some some structure and I didn't know what that looked like I didn't know how to put systems in place I knew that everything that I knew was in my head and I didn't know how to effectively hire someone what that looked like paying them payroll just uh just total lack of any any type of real business structure I just knew how to be a lawyer and I needed someone to help me answer the phone and collect the payment and some documents from time to time so the initial thing that brought me to how to manage was I have several colleagues that talked about it for a couple of years now and I was a little reluctant to join one for the expense and then second I I felt like I knew what I was doing until I realized how much I didn't know what I was doing and so I joined how to manage primarily for help with the process with the procedures with the sanity portion of making things more mainstream it honestly wasn't to grow my business it was to help me organize better within my office I was looking for someone to help me learn how to run a business not to necessarily make more money boot camp what was super effective I felt like if I had stopped after the boot camp I would have gotten my money's worth 10 times over from the boot camp literally week one two I was amazed shocked and again surprised by how much I did not know about how to run the business side of it even being in the boot camp start to change my mindset of how I thought about prep my practice like before it was all about being an attorney and very little focus on having a practice and so going through the boot camp started setting those little wheels in motion of this is what you need to be doing for the business side we didn't talk at all about me being an attorney we talked about me growing the business and invoices and capturing time I had never captured time before I think just not knowing how to do it and knowing that I don't have to reinvent the will there's already a system I have to you know I have to tailor it to Tessie but there's already a system in place there's already steps on how to do it there's already people who are experienced in helping you grow your business so you don't have to do it on your own but for me I had no clue on how to grow my business from being an attorney to having a successful profitable Law Firm that works for me and not the other way around my gross for our last year was 721 my run rate now in October at the end of this year will probably make at least 300 more than we made last year and my business plan for 2022 is a million and I wholeheartedly think that's a low Mark for next year this year how to manage we've decided to start with with the assistance and guidance of my CEO and my husband and Julie and just a lot of great people how to manage we decided to embark on some marketing I take I took an additional class called sanity which is the reason I joined how to manage to help put some policies and procedures in place and with those policies and procedures and with marketing and with the team and with Terry Fogarty the best CEO we're gonna kill it next year absolutely gonna kill it next year doing my owner work in addition to my attorney work has grown my firm tremendously financially I can definitely see the benefits I I can without a doubt see the business the benefits it's we're in October and I've made more than a good 150 more than I've ever made period already like I'm I'm well over have been well over the 500 Mark closer to probably probably closer to the 700 Mark and last year I made 721 I mean uh 421 and I'm closer to 700 now I think the no [ __ ] policy is a good policy I think the no the no [ __ ] policy makes it a fun thing it doesn't feel like work like I look forward to the lqms I look forward to my five-minute leaderships I look forward to all the positive influence I look forward to people telling me you're not crazy this [ __ ] is going to be tough it's going to be work there is no magic pill I look forward to people being realistic with me holding me accountable calling me on my [ __ ] and and at the same time being very supportive and laid back and you know it it has a very family feel to it

Thanks Robin your participation is very much appreciated
- Georgia Ercolani

About the author

Georgia Ercolani

I've studied computational statistics at Academy of Art University in San Francisco and I am an expert in post-medieval archaeology. I usually feel mad. My previous job was directory assistance operator I held this position for 5 years, I love talking about hobby horsing and coloring. Huge fan of Rascal Flatts I practice boxing and collect insects.