Do you staff to the valleys or the peaks? Don’t get caught out! Listen to this episode of #70secondCEO with Carl Gould.
Read full transcript:
Hi Everyone, Carl Gould here your #70secondCEO, just over a minute of investment per day for a lifetime of results.
So yeah, you want to adjust those numbers. And what we like to see you do also, one of the big numbers will be payroll, what do you pay your team. And so we, one of the suggestions that we have especially during a crisis. A crisis is going to force you to do it but even if you’re not in crisis, you want to look at this. We like to see you “staffed to the valleys” and “subcontract to the peaks”. So look at your slowest time of the year, right and only bring on full time employees to meet the slow time and then look at outsourced resources, virtual assistants, remote workers, and other companies that can provide those services to you in a project by project basis so you keep your variable costs, as many of your costs possible as your variable costs, keep your fixed overhead as low as possible. Because your ability to contract the business when the economy retracts is as equal a skill as your ability to expand the business to meet demand.
Like and follow this podcast so you can learn more. My name is Carl Gould and this has been your #70secondCEO.