Growing your small business can be tricky. In fact, rapid growth can actually harm your company if you don't plan properly. And, even if you've implemented processes, technology, and outsourcing to deliver your core product or service and maximize growth efficiently, your company is still at risk if it doesn't have effective legal, insurance, tax, and financial (LIFT) systems. In fact, without solid LIFT systems, your business is just one accident, audit, or lawsuit away from ruin.
Hiring independent contractors (ICs) can be an essential way to boost productivity and streamline your resources, especially during the startup phase, when you have limited access to capital and can't afford to hire a full roster of employees. Even after your operation grows beyond its fledgling period, contractors are often vital for completing one-off projects or rounding out your team during hectic periods.