business-plan, startup-costs, business-model, business-structureWe are currently a four member team having a web solutions providing company. We also offered media related things like Portfolios, Company Promo Videos, Profile Videos and all Design related solution. From our past work experience people like our work and now they are approaching us. Now we want to expand our business.
Through our website six people approached us with the intent of working for us. We do not have enough money to pay them because right now the earnings aren’t that big. What are some solutions for this problem and how can we start expanding our business?
We don’t want to take money from investors. Can we hire these members on an internship basis? Because they are not highly qualified they are most likely count as students. If we hire them as interns, should we give them something or not? And again, if we don’t want to get money from investors, how can we start our company’s expanding procedure? Should we focus on social media platforms and other internet platforms to grow?
Do not hire additional people until you have enough and regular work to assign them.
At initial level you should manage work in between available staff and after that if you feel that you all are getting over burden of work and doing over time to complete work then you can take decision to hire new people to divide work.
More money and profit will always be there if you get more work and done that successfully so if you are getting more work and feel like can not manage with available staff then only hire new people.
All content is licensed under CC BY-SA 3.0.