You don't have to do it all at once.
The power of transparency and intention.
I went for a walk with a friend and client this morning, who, reflecting on the last year or so of her business reminded me that I had frequently advised her that she “can’t do everything all at once” — in her case she meant things like going from brand new business to offering full time employment with great benefits; but also— and this is related— that it took time to understand the story her financials tell and the levers she can move. What used to feel opaque and led to random decisions, now feels like a strategic backbone ( patting ourselves on the back in the Wanderwell bookkeeping division )… even if what she wish her business could do is still unfolding.
But what’s made all the difference for her, is the second part of my advice: that being transparent about intention makes all the difference during the process.
I don’t personally know any business owners that are trying to get away with paying their employees as little as possible a la our archetypal evil capitalists. I know far more who are paying more than they can afford because they feel badly, or they think they have to, or some other well-intentioned reason.
But it’s better for everyone if you pay what you can afford while practicing transparency about your intentions. About your plans to offer benefits in the future, or raise pay once you reach a certain size. And while it doesn’t guarantee that your employees won’t leave for better pay, it strengthens muscles around accountability and I think makes us more honest stewards of the resources we create together.
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