Paying for Good Talent Pays off

One of the biggest mistakes you can make when trying to grow a successful business is attempting to do everything yourself. I see this a lot, and I think there are two main reasons for it. You either have difficulty letting go of control, or you have difficulty letting go of the cash. (Or possibly both.)

Either way, when you refuse to invest in good talent to support your business, you’re only holding yourself back.

So let’s take a look at why it’s time to let go of whatever is preventing you from hiring the quality talent you need to accelerate your business success.

Letting go of control

You’ve made it this far on your own. Congratulations. But I know what you might be thinking: “I have a good thing going here and I don’t want anyone to mess this up for me.”

You’re afraid it will be impossible for someone else to meet your standards, to uphold your reputation, and to earn your trust.

Maybe you’ve never had the opportunity to delegate. And taking care of your life and your business on your terms has served you quite well. Well, get over yourself. I’m not saying you’re not a total rock star. Of course you are. But let me ask you a question. When was the last time you saw a highly successful business owner flying completely solo? I’ll tell you when. Never.

Behind every successful entrepreneur is a team of top-notch talent. Each team member plays an important role, contributing where he or she shines most brightly. Imagine where you could be in your business with stellar support in place that frees you to focus on what you do best.

To do that, you’ll have to let go, take a leap of faith, and learn to trust.

Clearly, you’re not going to hand over pieces of your precious business to just anyone. Tossing it to the lowest bidder isn’t going to cut it. Paying a premium for good talent is worth the increased peace of mind.

Letting go of the cash

Paying a premium for top talent does not necessarily mean breaking the bank though. Smart entrepreneurs who make serious money, watch their outflow as carefully as they watch their inflow. This is why so many of you are reluctant to dip into your budget for talent. You convince yourself that you’re just being prudent.

In actuality, you will benefit from investing in the outcome talented and qualified professionals get for you. I’m obviously not advising you to pay more just to pay more. Pay for proven results, higher efficiencies, and a greater return on your investment.

Your investment in talent can indirectly increase your cash flow by freeing you up to concentrate on your money-making activities or increasing productivity. Good talent can also directly increase your cash flow by contributing solid ideas or leveraging your efforts.

The bottom line is you’ve got to be willing to let go of control and let go of the cash, because paying for good talent is going to pay off. Make informed decisions about exactly what kind of support will benefit you most. I know it's scary. I've been there. But I wouldn't be where I am today without being willing to pay for the support and guidance I've needed.

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