Don’t Wait To Hire Your First Employee. The Time Is Now.

ID-10086457If you’re a solo entrepreneur or even have a couple partners in your business, how do you know when it’s time to think about with hiring your first employee? It’s a huge decision for every business but vital if you ever want growth.

When the time comes, how do you know you’re truly ready to hire somebody? It probably means that you are working 80 hours a week and starting to see things fall through the cracks. It’s likely that you aren’t seeing things functioning the way you want them to and you lack the time to do anything about it.

It’s also very likely that you have some customers calling or emailing with expectations that have not been met because balls are getting dropped. If this is happening to you, it’s probably too late…and that’s when most people hire.

You’re Not On Your Own Anymore

The moment you start hiring people is also the moment you start managing people and that’s more than just a small change for entrepreneurs that are used to only holding themselves accountable. Sure, you had to manage your suppliers and customers but you didn’t have to manage employees and that’s probably the single biggest jump for entrepreneurs.

Many entrepreneurs don’t have the skills to manage so if you have the time, take the opportunity to read and get some knowledge before you do your first hire. If you don’t have the skills to manage, you’re going to need to acquire them.

Reducing New Hire Risks

How do you reduce the many risks associated with bringing an employee into your business? First off, determine which level you’re hiring for. If it is something that can be done via special projects, you can go to a local university and get a student who needs to do a report for a related class or you can even consider interns for certain tasks to keep costs down.

The other option is to use contract employees or individuals that are experts in their field to handle more specific tasks you need help with. Those are a few options that can act as stepping stones before hiring that employee for your business.

Hire The Right Person For The Right Position

One book I love to talk about is Good To Great by Jim Collins because it talks about getting the right people on the bus and getting them in the right seats. The biggest problem that can negatively impact your business is having the wrong people on your team.

If there are only three employees and one of them is the wrong person, then 33% of your employees are wrong for your business. That’s a scary thought to consider, isn’t it? Now if you have 100 employees and there is one person that’s not quite right for the team, we’re only talking about 1%.

Take your time and go through the process of hiring. Don’t rush it!

Integrate Them Right Away

You’ve made your first hire. Now what?

Make sure they have job titles, functions and clear objectives with a task list. Once you have that then you can go back on a regular basis and analyze if they are doing a great job for the business.

If your employee doesn’t know what they are going to be doing in your business, how can you realistically analyze whether or not they are doing a good job? It’s a big mistake and a lot of people forget how important that job function really is.

Once You Find The Right Person, Hire Them

If you find the right person while your business is growing, hire them. Even if you don’t have a specific job function for them at that exact moment in time, it’s key to get the right people on your team while you have the opportunity to take your business to the next growth stage.

Yes, you have to be financially careful but it’s much tougher to find the right people then it is to grow a business. In my experience, it’s always easier to grow a business if you’ve got the right people.

Do you have a story to share about hiring your first employee? Tell us about it in the comments below.

 

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