As your business grew, you hired people to help you grow your business. Whether it was administrative tasks, bookkeeping, or even helping you with client work, you needed someone to help you check things off your ever-growing to-do list.
But hiring new employees means training those employees.
Checking their work to make sure the training sunk in.
Conducting regular meetings to keep them up to date and make sure they know what’s expected of them, conducting performance reviews, etc.
Then every time an employee leaves, you have to start all over again.
It can start to feel like you’re spending more time hiring, training, and managing your team than you’re spending on client work, and you’re no better off than you were before you hired your first team member.
It’s not that team members can’t pull their weight, it’s just that, the more your business grows, the more your role tends to evolve into more of a manager than a service provider.
That’s great if you want to be a manager. But what if you got into started your financial services firm to provide financial services? Because you love working with clients and helping them find solutions to their financial challenges? What if you don’t want to be a manager, but you still want to grow your business?
In that case, you have a few options:
Outsource HR
You can’t outsource all your team management needs, but you can outsource significant parts of it to an outside HR company. Some of the tasks you can outsource include vetting candidates and dealing with payroll, one of the most time-consuming parts of hiring new team members.
Opt Out of Growing Your Business
Growing a business isn’t for everyone. It’s not just hard work, it often requires adjusting your role and tasks in your business to doing more of the things you don’t want to do and less of the things you do want to do.
You can decide you’re happy with the way things are and you don’t want to grow your business any bigger than it is right now. There is nothing wrong with that choice.
But if you do want to keep growing your business, and you don’t want to let your HR needs hold you back, there is another option.
Form a Strategic Partnership with a Larger Firm
You can form a strategic partnership with a larger financial firm and use their resources to help you grow your business.
Sharing resources with another firm not only saves you money, it also takes the risk out of investing in those new resources. You can confidently grow your business, knowing your strategic partner has your back.
At Vertex, one of the reasons people choose to partner with us is the additional administrative backup we can provide if a member of their team leaves unexpectedly. This helps ensure their business continues to run smoothly while they look for a replacement.
We can also provide additional support if they decide they’d like to travel more instead of feeling like their business is a ball and chain weighing them down. Your business should enable you to live the life you want, not hold you back.
If you think partnering with Vertex might be the right move for you, just reach out to get the conversation started. We’d love to talk with you about what you’re looking for in a strategic partner. Contact us at in**@************rs.com.
