Last Updated on August 8, 2013 by BrodNeil
Do you know that hiring the right people can help increase your profits? According to Adam Baker, the founder of Blotter.com, “Smart, talented people will make a bad product great. Bad people will kill your business.” With great people in your business, you’ll reach heights you’ll never expect you could achieve.
What does it mean to hire the right people?
In as much as you want to do everything just to make things right, you are going to need a team to help achieve your goals. When you hire the right people, it means that you are hiring people who are experienced in the field of your business and probably some people smarter than you. Yes, it takes a lot of humility to hire people better and smarter than you in different aspects, but that’s what it means to hire the right people. You need a strong team and you need people who will help develop your ideas and make it even more brilliant. In the process, working with these people will give you opportunity to learn more about whatever their specialty in your team may be.
How does hiring the right people increase your profit?
Micromanagement is one of the biggest problems many CEOs and business developers face. It is such a waste of time and energy telling your people how to do even the smallest things or fix almost everything they deliver to you. If this is happening to you, you really need to hire the “right” people. By having the right team, you don’t have to worry about micromanagement anymore. You and the others on top would be more productive. You will have more time to focus on other areas of your business that will help increase your profits.
Hiring the right people will help ensure that your brilliant business idea will turn into a reality. Before your business can even start, you already know that it’s going to earn you money. With smart and competent people working for you, they might have great ideas to improve your product or service, ideas to minimize your expenses, and other strategies that will all help increase your profit.
How do you hire the right people?
It might be very easy to say that you need to hire the right people to earn more from your business, but how will you know if you are hiring the right ones? Here are some ideas:
- Know the role of each team member you need. Find candidates and see if their field of specialization match your needs. Look at their work experience and ask for work samples for deliberation.
- Ask questions to compare candidates from each other, as well as yourself.
- Involve other people in your team when screening candidates. This will help ensure that the other members of your team approve of the new team member, thus forming a stronger and more effective team.
How do you retain the right people?
Once you have the right people in your business, another challenge you have to face would be how to keep them working for you. Especially if you are just starting a business, you probably won’t be able to afford large salaries for your team. Instead, what you can do is to let them know the vital role they’re playing in your group. Let them understand the vision of your team, as well as your team’s direction. Let them know that they are important every step of the way and complement them in any way you can for a job well done. Listen to what they have to say and involve them every step of the way.
If you want your business to succeed and be more profitable, you need to hire the right people and take good care of them. You need to work with a team who are as smart as you are or even smarter so you can go even further than you think.