The first hire is terrifying for most owners because it feels like betting money you are not sure you have. Done right, it is the least risky move you will make all year.
Hire when the work exists, not before
Do not hire in hope of future revenue. Hire when you have consistent overflow that you are turning away or drowning under. The demand should justify the seat before you fill it.
Start with a contractor
A part-time editor or contractor lets you test the water without the commitment of a full salary. Prove the role pays for itself, then formalize it.
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