Business News

3 Tips: How to Hire Good Employees and Build a Team as an Entrepreneur

What a question yes a two-part question yeah my question is when do you look for your first employee and find continuous work for them and the next part is how much money do you put aside before hiring your first employee so toddler I mean that’s a great question and again I see you’ve been I think liking commenting on the videos so I appreciate you doing that for being loyal and also it’s in time getting value from the videos anytime you engage with the videos you or in otherwise anyone else in the community I definitely appreciate you guys doing that it shows that you guys are paying attention and that’s something that I don’t take for granted so to answer your question I would say that it depends on the stage of your business

really and the resources that you have when I start on business when I was doing my first 100k I used that money to basically fund marketing I was the one-man army this is a long time it was more than five years ago and so I started to just do that and then I focused on generating that cash flow generating that revenue learning the experiences and the lessons and then when I got to a point where I think I was at I was doing about about almost out of million dollars it was nine hundred thousand dollars and in the business that’s when I started building a remote team so the remote team I started bring on people that had years of experience that would help me execute on certain points because at that point you know you got to question yourself like at a certain point when you want to grow your business we think that we can do it all but you know the biggest businesses in the world if you’re trying to build it you can’t build it on your own you need a team and the team is the most important thing you need them to be able to assist you on the path to building that business because you only had 24 hours a day right Jeff Bezos Bill Gates Warren Buffett they all 24 hours a day so how they grow in their business and even though they’re super busy they

delegate they have that people do specific things within the defined role so it really depends on your revenue your cash flow you have it the stage of your business where you want to get to I think when you’re at the 500 thousand I made a mistake I should have hired earlier on like I would say a year or two years earlier on because I tried to do anything on my own because the money was coming in and whatnot but for me I would have hired build a team and focus on growing that because it would have been helped me grow even faster at certain point because don’t try to do anything on you know you know especially at that point I think it’s also time to revenue in your goals wall how big you want to build your business you wanna be able to have that team in place early on what was the second question so how do you find that continuous work for them is really it depends on your business right and if you have an e-commerce business there’s definitely things that they need to do right you have marketing your sales you have customer

service you have the operations of the business is usually only three core most important functions of a business marketing sales operations those are the three core fundamentals that you every business needs to have it as a matter of you’re a huge company or you’re a small one-person army you’re usually revolving around those three areas in operations basically manes management or whatever so marketing sales operations / management you’re flowing through between all three all the time back and forth so you need to bring on people that focus on developing those three things whether that’s marketing it to attract people like digital marketing and sales to actually be able to generate that eat whether it’s e-commerce your service business your SAS business doesn’t matter an operation side you’re building the team you’re building the culture you’re having these different operations on the financials is included in the operations side as well they’re those

things are super important so there’s definitely a lot of areas in business businesses one of the most complex things that you can ever do in your life it’s especially if you want to call a sport I would say it’s the most complex sport so continuous work is not a problem it’s finding the right people that can help you in those areas that fit with your core values that also are competent enough to be able to deliver because at certain points in the career when you bring on people it’s not about having to continues work if they’re doing the right work and at a certain point if you’re evaluating them if they’re doing the right thing within the defined role they’re producing results for you right that’s the most important thing at the same time are they enjoying the whole process so this is a lot of things I recommend

watching the video that I recorded on building team and the building the culture when I have that video if I don’t already so again thanks for asking the question I went longer than I expected but I wanted you to get a lot of value from it so how much money do you put aside before hiring your first employee alright so how much money you put aside from before you hire your person team member so that’s another thing I don’t like calling people employees i naming team members because they’re working with you not working under you before you so the most important thing is you want to set aside I would say it depends on the position you’re hiring for I would check market comparables and also at the same time you know again it depends on the role right someone that you pay and marketing is different for someone that you pay in in a financial specific position or they imagine level are they operations are they execution people are they marketing people what business are you in what stage you’re in like if you’re McDonald’s and you’re hiring someone to man the line for creating burgers and doing the tell you know at the front desk it’s very different if you’re let’s say a consulting firm and you’re bringing someone that’s confident enough to speak with

clients like a project manager or project coordinator or Account Executive or client success person it’s very different depends on the role and then I would just do a Google search to find out you can find out a lot of people that are hiring on businesses and find out the prices I mean other prices but the actual salaries that the pain and what not and be able to find that benchmark and you got to see if they’re a good fit as well so there’s a lot of variables there but I hope it gives you that context to be able to you know a foundation for you to start for them so thanks again Tyler and or anybody that’s done value for this video watching comment below what insights you got from this like this video subscribe and make sure you turn the bell notifications to get future notifications on these videos thanks for watching and I’ll see you guys in the next one

As found on Youtube

diagnostic recruiter