Wanna know what I’ve discovered is the most efficient, rewarding, and FUN way to scale your biz?
I’ve personally seen that there’s no better way to:
Help more people
Make more money
Reach more people with your message
Provide a solution to their problem
Free up your time
BUT- lots of entrepreneurs are resistant to the idea of hiring to solving lots of their business problems because- lets face it- hiring is a COMPLICATED process. They’re either sick of the revolving door of making bad hires, or they’re too scared to start.
“I wish someone cared about my business like I do.”
“Why are they making these small mistakes? I even went through the trouble of outlining the whole process- this shouldn’t be happening.”
“I don’t want to micromanage them, but I feel like I have to.”
“I feel like they don’t understand what I’m building.”
And then what happens? You end up doing the thing you hired them to do instead of giving them another round of feedback.
Then you simmer in resentment- you’re sick of wasting your valuable time and money on something that was supposed to save you those very resources. That new team member you were so excited to bring into your company? They’re draining your energy reserves.
Time is a precious, non-renewable commodity. You know this, so you’re doing all you can to leverage your time. But, you’ve seen that hiring can be something that slows you down from scaling your business.
Well, it can be. But it doesn’t have to be.
In fact, I not only believe hiring shouldn’t be something that slows your business down, but actually accelerates your business growth.
But if you want hiring to work for you instead of against you, you need to hire THE BEST.
Do you know what the x-factor is in the startup world? The reason why startups grow to hundreds of millions of dollars way faster than your average business owner?
It’s because they hire a purpose-driven A-team from the start. When these kinds of people are helping you to run your business, you end up managing less. You scale faster, serve more people, and have more time to actually live your live outside of your biz.
This advice doesn’t just work for startups- it also can work for you.
That is, assuming you know how to make it work for you and what you need to avoid at all costs to keep it from driving you in the wrong direction.
This is where I come in. I’m here to show you exactly how you can hire a small and mighty team, so you can do what you set out to do in the first place- change the world.
You on board yet?
Let me be your guide through the magical world of building your dream team, where the best candidates flood your inbox with applications and post-team meeting headaches are a thing of the past.
Before we dive in, it’s imperative that you know the 3 most common hiring mistakes I see entrepreneurs making. Let’s start with mistake #1.
Mistake 1: Hiring Too Quickly
Maybe you’re thinking, “Don’t hire too fast? So, you should hire slow? Didn’t you say that hiring was going to save me time?”
Yep, I did say that- hiring slow will actually save you time in the long run! In fact, one of my favorite phrases is, “Hire slow, fire fast!”
Hiring fast is a pretty common phenomenon. You see it when people start looking for their next team member within their inner circle- this includes friends, family, or the first person they see raising their hand.
When they put these fast hires to work, they usually end up trying to solve the problem by just throwing bodies at the problem. This is not a good idea. Why?
Because it’s kinda like a clown spinning plates. The clown keeps pulling someone from the audience so that person can just spin the plate in his stead. This is NOT progress!
Right before this hiring process, maybe you had decent cash flow. You were probably overwhelmed and drowning in work, and you just wanted some help, so you started looking to hire.
Now, after this poor hiring experience, you’re back where you started- except your wallet’s starting to hurt.
Here’s my advice to you: start thinking like the CEO you are! You need to stop grabbing people to take over some tasks just so you can stop drowning in the work- this won’t solve the problem.
Stop hiring friends, and stop rushing the hiring process. Hiring someone is kinda like dating- you don’t want to rush into marriage. You first need to get to know them, work with them for a while, and discover their true colors.
Curious as to how much it’ll cost if you do speed through the process and make a bad hire? It’s probably a lot more than you think.
First, let’s figure out how much your time is worth as a CEO. Let’s think about it as $1,000 per hour (don’t underestimate your value!). You should be focusing on the high impact activities in your biz that only you can do- things like business strategy, sales, and coaching or teaching.
Now, we’re going to break down how you’re likely to spend your time if you rush into hiring.
10 HOURS: write the job description, post it, screen applicants, interview top candidates
25-30 HOURS (first month): paperwork, onboarding, training, working together
40 HOURS X $1,000 = $40,000 down the drain if you end up letting them go after 30 days, as well as 40 hours less to spend checking off thinks from on your own to-do list
Plus, you could’ve instead gained $40,000 for the business in that time!
It costs somewhere between 3 to 20 times as much to make a bad hire than it does to wait and hire the right person.
8 year old wiffle ball captains employ a simple yet effective strategy when it comes to choosing team members: they always pick the best first. They look at their options, figure out which ones are the fastest/sportiest/best hitters, and welcome them to their teams.
Yet, time and time again, I see eager entrepreneurs NOT picking the A-players!
Mistake 2: Not Having or Using a Solid Hiring Process
This one’s kind of a no-brainer when you think about it. Of COURSE you need a solid hiring process!
But you might be shocked at how many bright and successful entrepreneurs fail when it comes to this.
They don’t have a process. OR, they have a process, but they don’t have a proven process. OR, they have a proven process, but they don’t stick to and rely on the process. They jump ship from their carefully thought out roadmap as soon as they see someone they think is their ideal hire, and BAM- there’s your mistake.
A process is NOT there to control or restrict you. It’s there to keep you from taking so-called ‘shortcuts’ that are really only shortcuts to the dismissal of an employee and a frustrated business owner.
The fastest, most successful route to making a homerun hire is by using a proven process and system, then following it step-by-step.
Don’t have a process yet, and not sure where to start? Download our FREE Ultimate Dream Team Hiring Roadmap to gain access to the 9-step process I use to attract and hire smart, talented, and dedicated team members!
Are you the kind of person who likes to wing it and trust their gut? The kind that doesn’t always (or usually) follow the instructions? If so, I’m right there with you.
And as someone who likes to wing it, I’m telling you now- unless you have multiple decades of successful hiring experience to rely on when you wing it, it just isn’t going to work this time.
It’s kinda like the idea that you can only wing it when cooking if you’ve got many years of experience behind you. Would you try to ‘feel your way through it’ if you were taking a cross-country road trip without a map? Hopefully not- you want a GPS and a map if you want to take the best, shortest route to Wally World.
Mistake 3: Not Firing Fast Enough
One of the biggest reasons people are resistant to embracing the role of manager is because the responsibility of firing rests with them. Unfortunately, it’s sometimes the only way to put a problem to rest.
Why don’t many entrepreneurs fire faster? Here are a few reasons:
You feel guilty, and don’t want to leave them in a financial lurch
Now that you have a personal relationship, you don’t want them to hate you
It would hurt your pride to admit that you failed
You feel like it’s your job to empower them to be better
Maybe coaching them would help to make up the difference instead of going to hire someone else
You don’t want to take on the work they’ve already taken off your plate
If you want to be a CEO with integrity, you need to be making the best decisions for your business, your customers, and your team. You want your customers to have the best experience possible, but this bad hire taxes your time and energy. You want to foster the best environment for your whole team, but it kills morale to have this negative energy or lack of engagement on the team.
As a leader, you’ve got to make the tough decisions.
Bless or thank this hire for all that they’ve done to help you achieve your goals so far, and release them to pursue a better future. Stop keeping this person from a job that they’re a better fit for, and stop keeping your business from inviting a better-fitting team member into your world.
If you found this post helpful, we’ll be covering more on How to Magnetically Attract, Hire, and Keep Your First Dream Team Member in this 3-day FREE live training series! In addition to 2 other mistakes you should avoid, I’ll also be addressing the dated hiring and management practices preventing you from making your dream hire.
Wanna learn more about these mistakes (in video form)? Check out some past Facebook lives down below for more details!
Have you made any hiring mistakes that we should look out for? Have you been too afraid to hire because you’re afraid of the consequences? Share your experiences with us in the comments, and send this video to any other entrepreneurs you know who might benefit from avoiding these major pitfalls!