When to Hire, and Why Cheap Help Often Costs You Twice EP 121

You're buried in work you know you shouldn't be doing, and hiring the cheapest help you can find feels like the fastest way out, right up until you're paying for the same job twice.  Join Podcast Club: Watch episodes like this one recorded live, then join Alecia and the guest in a private conversation afterward to ask your own questions. Join us at consciousedge.com/club.  Get Full Show Notes: www.consciousedge.com/ep121 Let’s Connect on Instagram: @aleciastg In this episode of The Conscious Edge Podcast, host Alecia St. Germain sits down with financial strategist Jenn Baas for a Monthly Money Talks with Zen Jenn conversation about hiring. Jenn is the founder of Peak to Peak Solutions and leads the Financial Leadership Lab for Alecia's clients. When a business owner is buried in work, hiring feels like the answer. Alecia shared the pattern she sees most often. Owners hand expert-level work to the cheapest help they can find, then feel let down when it doesn’t work out.  Jenn explains how to know when to hire and why most hires feel like a stretch at first. She also clears up the myths about 1099 contractors and W-2 employees that trip up so many business owners. Together, Alecia and Jenn show why cheap help often costs twice as much in the end, and why knowing your numbers is part of the job of every CEO. 📝 What We Cover in This Episode: -How to tell when it's time to hire, and why your profit and loss statement alone won't tell you -What the stair step effect is and why most hires feel like a stretch at first -The real difference between a 1099 contractor and a W-2 employee (hint: it has nothing to do with the job) -Why the IRS won't care that your contractor asked to be paid that way -Why cheap help often costs you twice -Why a savvy contractor may cost you more than a great employee -How to research what a hire will cost before you post the job -Why knowing your numbers is part of your job as CEO