We all can agree that time leads to more jobs, more jobs completed leads to more money. That's a given. If you are a 1 man operation all the way to 50, time still means the same thing. If you are bogging down time dealing with back office stuff... it takes away from the focus of what makes your business money. Pressure washing.
If you find that you are being pulled away more often due to payroll, tax filings, insurance, audits...you might want to consider a PEO arrangement. They provide pay-as-you-go worker's comp coverage and maintain those logs so that you are not at risk of wasting time/hassle on audits/w2 issuance crap. They provide a means for worker's comp requirements while helping save time on payroll processing. Also, if you have that jerk employee that is giving you trouble...they are there for HR Legal advice on how to deal with the situation in your best interest. We weren't taught how to do all these aspects of running a business in school, and it isn't what generates the revenue. I'd be happy to help look into these things on your behalf.