This episode delves into the decision-making process of hiring employees or partnering with independent contractors. Mike discusses the benefits and drawbacks of each option, focusing on the importance of workers' compensation insurance and the potential risks involved. While contractors may offer some flexibility and payroll tax savings, Mike advises against relying solely on this approach, as it may lead to attracting the wrong kind of contractors and jeopardizing business's reputation and liability. The podcast concludes by suggesting a careful assessment of customer profitability and long-term scalability when deciding between employees and contractors.
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