Increasing your own wages as a small business owner while hiring part-time employees involves strategic planning and efficient management of resources. 

Increasing your own wages as a small business owner while hiring part-time employees involves strategic planning and efficient management of resources. Here are some steps you can consider:

1. Assess Financial Health:
• Before making any changes, thoroughly assess your business's financial health. Understand the current revenue, expenses, and profit margins. This analysis will help you determine if there's room for increasing your own wages.
2. Evaluate Workload and Tasks:
• Assess your current workload and identify tasks that can be delegated to part-time employees. By hiring part-time staff to handle specific responsibilities, you can free up your own time to focus on higher-value tasks that contribute more directly to the growth of the business.
3. Define Clear Roles and Responsibilities:
• Clearly define the roles and responsibilities of part-time employees to ensure they understand their tasks and expectations. This helps in optimizing their contribution to the business and allows you to focus on tasks that truly require your expertise.
4. Optimize Workflow and Efficiency:
• Streamline business processes to maximize efficiency. When tasks are well-organized, it becomes easier to delegate them to part-time employees. Efficient operations can also contribute to increased revenue, providing more room for financial flexibility.
5. Set Realistic Budgets:
• Develop budgets that account for part-time employee wages. Ensure that the salaries you pay to part-time staff are reasonable and align with industry standards. This will help you allocate resources effectively while leaving room for your own increased compensation.
6. Negotiate Better Deals:
• When negotiating contracts or deals with clients, consider leveraging your part-time employees to offer additional services. This can lead to increased revenue, providing the financial means to enhance both your own wages and those of your part-time staff.
7. Cross-Train Employees:
• Cross-train part-time employees to handle multiple tasks. This not only increases their value to the business but also provides flexibility in assigning responsibilities. It allows you to utilize your team more efficiently without necessarily increasing overall labor costs.
8. Increase Business Revenue:
• Focus on growing the business to increase revenue. Implement marketing strategies, explore new markets, or introduce new products/services to attract more customers. Increased revenue can create room for higher wages for both yourself and your part-time employees.
9. Monitor and Adjust:
• Regularly monitor your business performance and financial metrics. If the business is growing and becoming more profitable, consider adjusting your own wages and those of your employees accordingly.
10. Invest in Employee Retention:
• High turnover can be costly. Invest in the training and development of part-time employees to encourage loyalty and reduce the costs associated with recruiting and training new staff.

Remember, it's crucial to strike a balance between increasing your own wages and maintaining the financial health of the business. Careful planning and effective delegation can contribute to a win-win situation where you can enhance your compensation while building a more efficient and sustainable business.