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I’ve been working with James for about one year now. James is the CEO of a really cool company. Over the past year, I’ve had the pleasure of watching James grow his business to a pretty substantial level.
There’ve been the usual growing pains that any business goes through. You have growth issues, you have contractor issues, and you have collection issues just like any other business.
And, there’s the constant push and pull between funds available and growth. Managing cash is especially important when you’re bootstrapping like James.
James is preparing to enter into the new year, so James developed his plan for the year. One of the smartest things James did was create a real financial plan with real metrics that he needed to hit.
We just completed reviewing the plan. It was clear, as part of the plan, James was going to be adding teammates to the team.
The question was when should he pull the trigger?
Every founder goes through the issues James faced. If you bring someone on too early then you are burning valuable cash. If you bring someone on too late, then you can stunt your growth.
