Learning Stream Playlist

Staffing Model Explained

Ken Burke 10 min
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How much do you plan to spend on your employees and/or contractors—and how do you make that decision? This Microcast provides an overview of your staffing considerations, such as costs, salaries, timing, and business goals. For best results: View the Execution Strategy video first.
Staffing Model Walk-Through

Ken Burke 9 min
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This walk-through takes you right into the Financial Model—spotlighting the Staffing Worksheet. This covers calculating your employee and contractor costs over the next few years. Ken explains how to complete all fields in the spreadsheet so that you can confidently estimate business financials on your own. Be sure to download the Financial Model from the Resources area of entrepreneurnow.com and follow along!

The success of your business depends on the people you employ, and preparing to bring the right talent on board just when you need it will be crucial to a successful launch and ongoing growth. The more you know in advance about when you’ll need to hire, for which positions, and at what rate, the better you’ll be able to forecast staffing expenses and put management structures in place to prevent turnover. And developing an accurate model for predicting how much each member of the staff will contribute to income generation helps you create realistic revenue forecasts. In this learning stream, we’ll not only cover how staffing plans interact with the rest of your financial reporting, but we’ll establish guidelines for whether to build staff or hire contractors, how to set pay rates and predict costs of benefits, and calculate the ROI of positions across the organization. Using the accompanying spreadsheet tool, you’ll develop a staffing plan that matches your talent needs with the right personnel at the right time.

You will learn: