Wondering when to start hiring? Who to hire? And how many people to hire? Follow the advice of an interim executive to get on the right track.
Entrepreneurs at the beginning of their journey often feel overwhelmed. There are too many ideas floating around in their head and not enough time nor skills to get everything done. The easiest way to get stuff done is to hire other people. But who to hire, how to hire and when to hire is like walking a tightrope. Luckily, we have some great tips that every interim executive uses for hiring in small businesses.
Hire the minimum
In Peter Thiel’s book, Zero to One, he says, “Startups operate on the principle that you need to work with other people to get stuff done, but you also need to stay small enough so that you actually can.” It’s all about achieving a balance of getting results with the minimum number of people.
Instagram is an often cited example of achieving that balance. When Facebook bought the photo sharing app for a billion dollars, it had only 18 employees managing a platform that had millions of active users around the world. They knew that they didn’t need an office building of 400+ employees so they didn’t waste time getting them.
Have a clear job description
Before you start posting an ad online, put together a list of tasks that need to be done. It’ll help you filter out what kind of skills you need, and let the new hire get to work straight away. It also helps you figure out how many hours you’ll need someone. Can this work be done by an outsourced hire? A part-time employee? An intern? Or is it a job that requires 40 hours a week, and thus a full-time hire?
Get an interim executive
Your first team is the one that will determine whether or not you make it. That’s why you want to make sure you do it right. Getting an interim executive on board brings you experience and insight you can only get after spending decades in the industry. With their help and expertise, you can set up your business for success from your very first hire.