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Speaker 1: We got a juicy DM. Once again, I say this

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Speaker 1: basically in every bonus episode of Big Business. Please send

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Speaker 1: us in your questions because we love answering them here

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Speaker 1: on the pod and it gives us like real good

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Speaker 1: shit to talk about. If I'm being honest, I'm gonna

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Speaker 1: leave the name out of this one, but this is

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Speaker 1: what the message reads. Hey, Britt, I wanted to send

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Speaker 1: you a message as I'm really curious to know your

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Speaker 1: point of view. I am a business owner and currently

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Speaker 1: I'm in the sticky situation of cutting shifts slash potential

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Speaker 1: redundancies in the business. However, I pay contractors for paid ads,

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Speaker 1: email marketing, and social media help. I know you upskill

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Speaker 1: a lot of your staff, so I'm curious how do

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Speaker 1: you know when to upskill versus when to let go

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Speaker 1: and source new talent for growth. I want to prioritize

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Speaker 1: my staff, but I also want to make sure I

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Speaker 1: am prioritizing my business. I'm also so happy to listen

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Speaker 1: to this on the pod obs. It is a great

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Speaker 1: topic for the pod, and it's a tricky one. I

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Speaker 1: myself have never dealt with redundancies, even though it's a

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Speaker 1: very common thing that a lot of businesses go through,

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Speaker 1: you know, and business is not like a gradual slope

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Speaker 1: that just keeps going up, like businesses will go up

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Speaker 1: and down and you know, touch wood that it's something

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Speaker 1: that I never have to deal with myself. But I

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Speaker 1: think as business owners we have to be realistic about

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Speaker 1: everything and understand that, you know, at some point we

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Speaker 1: may have to deal with something like this. And whilst

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Speaker 1: I've never directly had to deal with making anyone redundant,

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Speaker 1: which I've heard from fellow business owners that obviously that's

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Speaker 1: devastating for everyone involved, Like it's not nice for the business,

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Speaker 1: it's not nice for the person on the receiving end

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Speaker 1: of the redundancy. It is one of those things that

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Speaker 1: we will most likely all face in our business journey

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Speaker 1: and you never want to think about it, but one

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Speaker 1: of those things again, like you just have to expect

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Speaker 1: at some stage that it's going to happen. And whilst

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Speaker 1: I haven't dealt with that, I definitely have dealt with,

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Speaker 1: you know, managing rosters, and we're always having to look

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Speaker 1: at the business first in a lot of instances, because

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Speaker 1: you could have a team let's say they're working in

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Speaker 1: an office or they're working in a warehouse or a

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Speaker 1: retail store or wherever, and you've got the pressure of

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Speaker 1: people wanting more and more shifts, you know, like let's

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Speaker 1: say they're casuals. And I guess where I've dealt with

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Speaker 1: it is us having to kind of put the business

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Speaker 1: first and go, all right, well, we know this person

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Speaker 1: wants more hours, and that person wants more hours. But ultimately,

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Speaker 1: at the end of the day, you have to put

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Speaker 1: the business first because you can't just you know, be

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Speaker 1: giving out extra hours and shifts because everyone wants it

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Speaker 1: if your business doesn't have the hours for them, or

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Speaker 1: it makes no financial sense. And this is something that

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Speaker 1: I never would have thought of before starting Fate, like

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Speaker 1: thinking back to when I used to work randomly at

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Speaker 1: places and I'd be always asking for more shifts and

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Speaker 1: then I'd be upset if I didn't get them. I

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Speaker 1: never saw it from the other side, and I think

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Speaker 1: a lot of employees may feel that way, where they

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Speaker 1: want more shifts, but it's ultimately up to what the

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Speaker 1: business can afford or needs. And obviously, stepping into the

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Speaker 1: realm of making people redundant is a whole different ballpark.

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Speaker 1: So the question in these messages is should you upskill

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Speaker 1: your staff or should you let them go and bring

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Speaker 1: in new talent. And I think this is where being

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Speaker 1: a nice person and being a CEO can start to

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Speaker 1: feel like two different things. I love that you thought

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Speaker 1: of me to answer this question, because this is actually

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Speaker 1: a really hard question to answer. I think every business

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Speaker 1: gets to a point where and I've heard a lot

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Speaker 1: of other people talk about this. I heard actually Simon

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Speaker 1: Beard if you know or follow him, he was the

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Speaker 1: founder of Culture Kings. He sold it, I think for

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Speaker 1: five hundred million dollars, and he did a video the

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Speaker 1: other day talking about like in a business's journey where

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Speaker 1: especially like a business that started small and you've got

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Speaker 1: that OG team, it's very hard for businesses and like

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Speaker 1: the founders to have that OG team continue to grow

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Speaker 1: within the business. Like if a business gets to a

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Speaker 1: certain size, a lot of the time that's when redundancies

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Speaker 1: might happen. Because those employees that you had with you

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Speaker 1: from the start, who you love and adore, and they've

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Speaker 1: been there through everything, their skills kind of I don't

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Speaker 1: want to say expire, but you know, the business outgrows

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Speaker 1: those employees. And I feel like we've been really fortunate

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Speaker 1: at fate where you know, I've got a lot of

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Speaker 1: those OG staff members that have been with us for

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Speaker 1: over five years, but they've really managed to keep up

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Speaker 1: with our growth which has been astronomical in those five years,

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Speaker 1: and they've been able to develop in their roles and

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Speaker 1: in their leadership and come leaps and bounds with the business,

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Speaker 1: which I've got to give credit to them, because not

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Speaker 1: everyone can do that, you know. And it's not to

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Speaker 1: say it's a bad thing if people can't do that,

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Speaker 1: but I think a lot of businesses that are in

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Speaker 1: a growth phase will get to that point where you've

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Speaker 1: either got to let people go because they're not serving

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Speaker 1: the business anymore. And that's not to say that they're

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Speaker 1: you know, a terrible person or whatever. It's just because

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Speaker 1: the business has different needs at its different cycles in

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Speaker 1: the business journey, if that makes sense. And I think, really,

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Speaker 1: at the end of the day, I'm kind of a

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Speaker 1: bad person to ask this because it is personal preference.

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Speaker 1: At the end of the day, you've obviously got a

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Speaker 1: few options here where you know you can I'd have

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Speaker 1: some real serious conversations with those staff members and see

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Speaker 1: if upskilling is something that can be done, Like I

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Speaker 1: would always prioritize my team first, but of course the

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Speaker 1: business as well, and what the business needs and what

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Speaker 1: the business can afford. So I think without knowing the

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Speaker 1: full context of your business or what it is that

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Speaker 1: you're doing exactly. I mean, if I was you, i'd

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Speaker 1: just take which I'm sure you've already done, but I

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Speaker 1: would take a really big sit down and look at

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Speaker 1: everything and look at your team members at the moment.

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Speaker 1: Who is it that I guess you would need to

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Speaker 1: upskill and what would that require and do you think

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Speaker 1: they would be capable of it? If you straight away

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Speaker 1: know that, you know, maybe that's just completely out of

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Speaker 1: their field. It may be one of those harsh realities

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Speaker 1: of going I don't think this person belongs in this

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Speaker 1: company anymore. And I know that can sound so harsh,

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Speaker 1: but again, like I always say, everything is just business,

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Speaker 1: but I would always look at upskilling before jumping to

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Speaker 1: a resort of like, oh, we think this person doesn't

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Speaker 1: fit in the company anymore, But that's just me and

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Speaker 1: it's a personal choice. I'd also look at you said

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Speaker 1: that you pay contractors for paid ads, email marketing, and

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Speaker 1: social media help. I can only begin to imagine how

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Speaker 1: much that is costing you every month because I know

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Speaker 1: how much like contractors charge for paid ads, email marketing

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Speaker 1: and socials. Looking at the costs that you have there

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Speaker 1: within your business, could any of those things be like

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Speaker 1: canceled with the contractors and taught to your team internally,

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Speaker 1: Because I mean it's easy for me to say, like

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Speaker 1: those things are really simple, like doing social media and

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Speaker 1: email marketing, like they are skills that can be taught,

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Speaker 1: especially if someone has a creative eye. You know, I

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Speaker 1: myself do all of our paid ads. I'm not saying

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Speaker 1: that you need to go and do it, but it's

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Speaker 1: also a great skill to have internally, someone whether it's

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Speaker 1: you or one of your team members, knowing how to

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Speaker 1: do paid ads email marketing. I have one girl on

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Speaker 1: my team who completely handles that, but I also know

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Speaker 1: how to do it, which is another great skill for

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Speaker 1: me to have. I know how to do all of

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Speaker 1: our emails and everything, and same with social media. Social

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Speaker 1: media is always a tricky one because I guess it's

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Speaker 1: a bit of a niche skill. But before you go

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Speaker 1: doing redundancies, you could even look at the contract work

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Speaker 1: that you're paying for, which I'm sure probably costs more

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Speaker 1: than an employee and maybe see if there's any upskilling

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Speaker 1: opportunities within your existing team members in those areas that

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Speaker 1: you're currently outsourcing to. I'm just throwing ideas out there.

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Speaker 1: If you're at the point in your business journey where

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Speaker 1: you're already feeling this shift and you're considering redundancies, it

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Speaker 1: may be that that's the time that you kind of

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Speaker 1: have to take this next step. And I know it

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Speaker 1: sounds horrible, and I'm sorry that I can't speak from

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Speaker 1: personal experience, but you know, if it was me, I

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Speaker 1: would definitely look, especially if you value your team members

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Speaker 1: and they've been loyal to you and they're wanting to

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Speaker 1: grow and upskill, which can be so challenging for staff

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Speaker 1: to just feel like they're constantly having to grow within

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Speaker 1: a business. But if they really want it, and if

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Speaker 1: you really value them and you don't want to lose them,

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Speaker 1: I would absolutely explore those options first of up skilling.

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Speaker 1: But if you kind of explore that whole option and

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Speaker 1: it just doesn't feel like it's going to be right,

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Speaker 1: or you think it's going to slow you down in

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Speaker 1: the process or take you ten steps back having to

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Speaker 1: train everyone, and you're not sure if it's going to

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Speaker 1: work out. If you're at that stage in your business

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Speaker 1: where you just feel like the business has outgrown some

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Speaker 1: of the people on your team and that there's just

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Speaker 1: no chance of them kind of evolving to the next

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Speaker 1: level that your business needs, then the reality of it

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Speaker 1: is you very well may need to look at letting

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Speaker 1: some people go and either hiring those experts to come in.

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Speaker 1: You'll have to go and check out Simon Bid on Instagram.

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Speaker 1: He literally posts videos about this all the time, and

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Speaker 1: he did one the other day talking about this in particular.

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Speaker 1: And I also saw Jay Wright do a video about

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Speaker 1: this the other day as well. He owns the e

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Speaker 1: commerce Equation, So go and check out his page on

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Speaker 1: Instagram as well. Jay Wright said a quote, and it

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Speaker 1: was something like, as founders, we want to keep those

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Speaker 1: og staff and keep upskilling them. But often a lot

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Speaker 1: of the you know, the responsibility always falls back onto

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Speaker 1: us as founders, whereas sometimes a business gets to a

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Speaker 1: point where you need to bring those new people in

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Speaker 1: that have the batteries already included. And I was like, WHOA,

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Speaker 1: Like that is so true, because we start businesses and

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Speaker 1: we teach everyone everything we know, and we upskill them ourselves,

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Speaker 1: but your business will get to that point where you

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Speaker 1: can no longer do that because maybe it puts you

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Speaker 1: ten steps back. And I just loved when Jay Wright said,

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Speaker 1: you know, sometimes you get to the stage where you

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Speaker 1: need to hire people that have the batteries already included

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Speaker 1: so that you don't have to be the battery that's

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Speaker 1: constantly going back to them. But yeah, that's a tough one,

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Speaker 1: and I'm sorry that you're having to consider this. Sput

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Speaker 1: you know, it's tough because at the same time, it's

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Speaker 1: equally as exciting if a business is kind of evolving

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Speaker 1: in needing those more new and upskilled people, because it

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Speaker 1: means you're entering a new era of your business. And

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Speaker 1: I can only imagine how difficult and hard it would

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Speaker 1: be to do redundancies. But I think before you just

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Speaker 1: go diving headfirst into doing that, definitely explore your options.

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Speaker 1: Chat with those staff members, map it out. Could any

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Speaker 1: of them learn any of those skills? Take a look

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Speaker 1: at the contractors. Are they are the contractors getting you

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Speaker 1: amazing results. I think a lot of the time when

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Speaker 1: we outsource things, do you even know the ROI do

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Speaker 1: you know exactly what you're spending with those people, and

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Speaker 1: are you making it back tenfold? You know what I mean.

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Speaker 1: I'd look at the way that you have everything structured

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Speaker 1: at the moment, see if there's any wiggle room for

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Speaker 1: your current staff to upskill or learn some of those

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Speaker 1: contractor jobs that you're probably currently paying thousands of dollars

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Speaker 1: for every month before then just jumping into straight up redundancies.

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Speaker 1: But yeah, I feel like that's all the advice I

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Speaker 1: can give. It's probably not the best advice, and it's

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Speaker 1: a tricky one, and it's a reality for a lot

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Speaker 1: of businesses, especially if you're growing, and it's a great

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Speaker 1: sign if your business is growing and you're feeling like

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Speaker 1: you're needing those more skilled people to come in. I

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Speaker 1: know I'm definitely in that era of fate and I've

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Speaker 1: mentioned it on the pod already this year, where my

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Speaker 1: number one priority now is bringing in those eighteen players

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Speaker 1: who have the batteries already included, meaning that they've walked

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Speaker 1: the walk and they can come in and they know

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Speaker 1: their shit. So it's a great thing to be in

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Speaker 1: this position, but also equally as tough. I try to

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Speaker 1: remove your emotions from it, and yeah, think of your business,

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Speaker 1: think of the staff of course, see if there's opportunities

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Speaker 1: for upskilling. Take a good look at all those contractors

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Speaker 1: you've got doing stuff for you, and I think you'll

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Speaker 1: hopefully figure it out eventually. And thanks for sending in

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Speaker 1: your question and thinking of me in this situation, and

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Speaker 1: no matter what, I think it'll all work out for

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Speaker 1: you anyway. That's all for today's bonus episode, and I

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Speaker 1: will be back next week with a main