I kind of get there seasonally in the summer, and realized that utilizing all the subs that are MM's on this board, I could do way more than if I had to deal with teaching someone every time I needed help, and I didn't have to deal with all the issues you have with employees. When I'm slow, I can make it all work, when I'm really busy, I don't design, or do production anymore, I'm just the guy coordinating it all and dealing with the customer.
That gets harder on installation type stuff, but I just sub out the prints, then install it once it comes in. Generally in the summer I'm here in the office an 8 hour day, then I go home and have dinner with the family and hang out a little, then just spend a few hours prepping the design files, etc, and as long as I upload them to the merchant by midnight, it's game on to be printed the next day and in the mail.
Maybe that's not an option for you, but it's real hard to find competent people these days unless you're paying at a really high scale. Maybe you can do that, but seems like that's generally a hard commitment for most shops, especially for the first employee to test it and see if it's going to work.