Hiring Smarter People

Entrepreneurs must hire people to grow their companies. What kind of management leaders do they hire? Who should they hire? Is that appropriate?

In order to keep costs down, there might be a tendency to recruit lower-cost managers who might require a lot of supervision. Is this keeping costs down in the long run? Is the Entrepreneur’s time well spent in managing such managers?

Entrepreneurs should not be afraid to hire people smarter than they are. Hiring smarter people might be tough on the ego and wallet, but in the long run the company will be much better for it. In fact, hiring smarter people will provide the opportunity to not only learn from them, but also allow the Entrepreneur to focus more time and energy on his/her areas of strength.

Do the Right Things!

Ravi Patel

Advertisements
Published in: on October 23, 2018 at 4:45 am  Leave a Comment  
Tags: , , , ,

Giving Preference to Veterans

Yesterday on Memorial Day, we gave tribute to all veterans who sacrificed themselves for giving freedom and liberty to our country and other nations in the world. What could Entrepreneurs do to honor current veterans?

When you hire employees, should you consider veterans? Serving in the armed forces instills discipline, adherence to established processes, teamwork, courage, overcoming adversity and other fine attributes that Entrepreneurs should be seeking from qualified prospects.

Veterans bring with them an intrinsic understanding of how loyalty adds to team proficiency and builds trust in a work environment. For Entrepreneurs looking to make a long-term investment in an employee, veterans often outperform other candidates as proven team players.

Through service, training, and lifestyle, veterans typically have the work ethic that any Entrepreneur would be thrilled to replicate in all of the organization’s employees.

Entrepreneurs should, all things being equal, give preference to veterans who have served our country.

Do the Right Things!

Ravi Patel

www.patelCFOservices.com

Published in: on May 29, 2018 at 4:45 am  Leave a Comment  
Tags: , , ,

Hiring the Right People

What is more important for an Entrepreneur to seek in his employees – ability or dependability? What should be more important?

Well skilled employees provide abilities for a growing organization to build the competencies in various functional areas. An Entrepreneur does not have time to train people, thus employees with ready skills are an asset. However, there is no assurance that employees with abilities are always reliable or dependable.

An Entrepreneur needs to be able to rely on his employees to do their assigned tasks without  constant supervision, absences, tardiness, and so on. Dependable employees, despite some known weaknesses, offer the Entrepreneur a comfort level that he/she can rely upon.

It would be ideal to have all employees possess high skills and also be reliable. In the absence of such, an Entrepreneur has to build a workforce that optimally blends a pool of employees with ability and dependability.

If such an optimal situation cannot be created, whom would you rather have – able or dependable employees?

Ravi Patel

www.patelCFOservices.com

Are You Afraid of Hiring People Smarter Than You?

Entrepreneurs have to hire people to grow their companies. What kind of management leaders do they hire? Who should they hire?

In order to keep costs down, there might be a tendency to recruit lower-cost managers who might require a lot of supervision. Is this keeping costs down in the long run? Is the Entrepreneur’s time well spent in managing such leaders?

Entrepreneurs should not be afraid to hire people smarter than they are. Hiring smarter people might be tough on the ego and wallet, but in the long run the company will be much better for it. In fact, hiring smarter people will provide the opportunity to not only learn from them, but also allow the Entrepreneur to focus more time and energy on his/her areas of strength.

Do the Right Things!

Ravi Patel

http://www.patelCFOservices.com

Overcoming Insecurity When Hiring

Entrepreneurs have to hire people to grow their companies. What kind of management leaders do they hire? Who should they hire?

In order to keep costs down, there might be a tendency to recruit lower-cost managers who might require a lot of supervision. Is this keeping costs down in the long run? Is the Entrepreneur’s time well spent in managing such leaders?

Entrepreneurs should not be afraid to hire people smarter than they are. Hiring smarter people might be tough on the ego and wallet, but in the long run the company will be much better for it. In fact, hiring smarter people will provide the opportunity to not only learn from them, but also allow the Entrepreneur to focus more time and energy on his/her areas of strength.

Do the Right Things!

Ravi Patel

http://www.patelCFOservices.com

Published in: on November 11, 2014 at 3:02 am  Leave a Comment  
Tags: , , ,

Hiring Friends

Entrepreneurs can use all the help they can get when starting businesses. Family members and friends provide assistance when an Entrepreneur bootstraps a start-up. Hiring paid employees at this time is a stretch due to limited funds.

The situation changes after the Entrepreneur becomes fairly well established with steady revenues and cash inflows. Not being able to do everything, an Entrepreneur should then hire paid employees.

Should friends be hired as employees? If friends helped during the start up phase, they might have reasonable expectations of getting employment at the company. Their familiarity with the business could be helpful as opposed to hiring someone new.

However, Entrepreneurs should be very careful when hiring friends as employees. You could lose both!

Setting high performance expectation for employees is necessary for good business. If such standards are consistently not met, an Entrepreneur should hold appropriate employees accountable – from reprimands, counseling, probation all the way to termination as necessary. Friends might have a difficult time accepting such actions from a friend who is also the boss.

Friends who are employees might expect  leniency or latitude due to their friendship, but that might not be good for business and morale of other employees. If an Entrepreneur rightfully holds friends to the same standards as other employees, he or she might not only lose them as a friend but could also lose an employee.

It is a difficult situation to manage and Entrepreneurs might want to be cautious hiring friends as employees.

Ravi Patel

http://www.patelCFOservices.com

Hiring the Right People

As Entrepreneurs build their organizations and hire key management personnel, what is the hiring philosophy?

Do you hire key management officers specifically for a position or for the company?

While you do need to add specific skills and management experience in your organization, do not lose sight of the future. Entrepreneurs need the support of a strong, complementary management team that not only serves the short term needs of the organization, but also is a valuable resource for leading the company towards fulfilling its Mission.

It is sometimes better to hire the right person for the long term needs of the organization rather than the requirements of an immediate,  specific job description. Be resourceful and create  the appropriate job description for the right person!

Ravi Patel

www.patelCFOservices.com

Published in: on February 11, 2014 at 5:14 am  Comments (1)  
Tags: , ,

Why Hire a Veteran?

On Memorial Day yesterday, we honored all veterans who have sacrificed themselves for giving freedom and liberty to our country and other nations in the world. What could Entrepreneurs do to honor current veterans?

When you hire employees, do you consider veterans? Serving in our armed forces instills discipline, adherence to established processes, teamwork, courage, overcoming adversity and other fine attributes that Entrepreneurs should be seeking from qualified prospects.

Veterans bring with them an intrinsic understanding of how loyalty adds to team proficiency and builds trust in a work environment. For Entrepreneurs looking to make a long-term investment in an employee, veterans often outperform other candidates as proven team players.

Through service, training, and lifestyle, veterans typically have the work ethic that any Entrepreneur would be thrilled to replicate in all of the organization’s employees.

Entrepreneurs should, all things being equal, give preference to veterans who have served our country. You will not be disappointed.

Do the Right Things!

Ravi Patel

www.patelCFOservices.com

Published in: on November 12, 2013 at 4:42 am  Leave a Comment  
Tags: , , ,

Hire Smarter People (than you are)

Entrepreneurs have to hire people to grow their companies. What kind of management leaders do they hire? Who should they hire?

In order to keep costs down, there might be a tendency to recruit lower-cost managers who might require a lot of supervision. Is this keeping costs down in the long run? Is the Entrepreneur’s time well spent in managing such leaders?

Entrepreneurs should not be afraid to hire people smarter than they are. Hiring smarter people might be tough on the ego and wallet, but in the long run the company will be much better for it. In fact, hiring smarter people will provide the opportunity to not only learn from them, but also allow the Entrepreneur to focus more time and energy on his/her areas of strength.

Do the Right Things!

Ravi Patel

 

Published in: on September 20, 2010 at 5:38 am  Leave a Comment  
Tags: , ,

Consider Hiring a Veteran

After having celebrated Memorial Day remembering all veterans who have sacrificed themselves for giving freedom and liberty to our country and other nations in the world, I was wondering what Entrepreneurs can do for current veterans.

When you hire employees, do you consider veterans? Serving in our armed forces instills discipline, adherence to established processes, teamwork, courage, overcoming adversity and other fine attributes that Entrepreneurs should be seeking from qualified prospects.

I suggest that Entrepreneurs should, all things being equal, give preference to veterans who have served our country. You will not be disappointed.

Ravi Patel