After review hundreds of cases and working for too many clients to count, we’ve come to find that there are three crucial steps for success: Hiring the right people, balancing the right money, and having a good business culture. These three things can set your business up for long term success.
Over the next three days, we will be talking about the best ways to set your business up for success, beginning today with the best hiring practices for your small business. And stay tuned later this week for how to find success in money and in culture!
Your business is doing well. But what’s next? ProStrategix knows how to help. Read some of our other articles below, or feel free to connect with us and get a complimentary thirty-minute consulting session.
Think “People First” When it Comes to Your Business
I know this sounds like every other business book. I hate even writing it because it seems so trite. However, it’s true: “People First” matters. When starting a small business, it is crucial. Companies are nothing more than groups of people working together towards the same goal. If that isn’t true, then you’ve got trouble. “Great,” you say, “now how do I do it?”
We harp on delegation. We do that for a reason. No person can do this alone, no matter how talented. When you are in your early growth phase, everything is on your plate. But that needs to change. Whether you are able to hire or need to outsource, we implore you to consider using our delegation tips for starting your small business. What you can delegate, do so. It will make hiring at your small business a success story.
Know When to Cut the Cord
Don’t keep investing in people hoping that they will change. That doesn’t mean firing someone after the first offense. But, if you’ve given a person a chance to correct a behavior, and that behavior isn’t changing, then it’s time to find another team member. You have to do it right. It has to be fair not only in reality but in the perception of your broader team. We cover this in detail in our post on attracting and retaining talent in the long term.
Know When to Bring Talent In-House
If the function is strategic and critical to your success, it should ultimately be within your control. When you outsource, you lose the ability to prioritize your work. While we’re supportive of outsourcing, we are proponents of having the strategic functions under your direct control. If you can’t, then ensure you have contingency plans to manage the risks.