Whether it’s looking for a business partner, hiring employees, or selecting sub-contractors, your team is an extension of your business. Ultimately, your team is a reflection on you as a business owner.
I have experienced the good and the bad. My goal is to share my experience so you can avoid stress along the way.
1. Hiring without a well-defined plan
Hiring for long-term growth is different from getting someone to help with a temporary backlog of work. Training costs time and money. Make sure you clearly understand how this individual will contribute to the overall growth of your company.
Take the time to define how you want your organization to look. How do you want job roles to contribute to the overall operations? Since hiring and partnerships cost money, you should have a well-defined plan on how new hires will increase your company’s revenue.
2. Only looking at skills and experience
While it is important to find someone with the right skills and experience, soft skills are also a factor to consider.
Look at their personality fit and whether their core values align with your business. For business partners, also look at their financial situation and their ability to weather a storm.
3. Not having an exit strategy
I find it challenging to enter a long-term relationship when you decide based on a one-hour meeting. Start the person on a small project or hire on a probationary period. This allows you to see if they are a good fit.
4. Not having expectations documented
It is important to have a clear set of expectations for the employee, vendor, or business partner. Since these individuals will have access to confidential information, you don’t want them taking your processes to your competitors. Having legal documents drawn up may be worth the investment to protect you and your business.
5. Not asking for help from those more experienced
Large organizations will typically have multi-level interviews with new hires or vendors. Having more than one set of eyes review the candidates is an investment that will pay off in the end. Many people will be affected by hiring decisions. It should be a team decision.
If you are at the stage of growing your team and you need another set of eyes to help you through the process, contact us at info@NCPConsulting.net to get clarity, direction and results for your business.