When you hire the best talent, it’s free.
A close friend of mine in Berkeley is hiring a President inside the organization (strengthening his sole position as CEO); and it’s going to cost real money – like $300-$400,000 a year, real money.
But he’s got the right guy.
And the “breakeven math” isn’t complicated.
How much additional business, through better processes, more efficiency and higher touch, would need to be generated to produce another $350,000+ in revenue?
How quickly can that be done?
In addition to that, how much happier will the CEO (he) be; able to outsource the items he absolutely hates doing? I’ll contend his staff will be much happier too, with the ability to get tasks accomplished much quicker internally. The byproduct of that will likely lead to happier clients, leaning deeper into his firm with potentially more assets and longer retention rates.
Should he hire someone with $75,000 a year qualifications – and see where that takes him in 12 months?!?