Good time to start hir­ing?

THREE THINGS TO CON­SIDER Can you af­ford it? Know what skills will take your busi­ness for­ward and pick the right peo­ple.

The Citizen (KZN) - - BUSINESS -

look­ing for a steady in­come. If they were look­ing for the thrill, they would start their own busi­nesses.

En­trepreneurs mis­tak­enly as­sume that em­ploy­ees should em­brace the com­pany vi­sion to the point where they are will­ing to work with lit­tle or no re­mu­ner­a­tion be­cause they buy into the vi­sion. That is an abuse of power. The fact that an em­ployee shows and in­ter­est in and ad­mi­ra­tion for your vi­sion, doesn’t give you the right not to pri­ori­tise his or her salary.

And un­less you are giv­ing them an equity share in the busi­ness that al­lows them to par­take on the up­side, you can­not ex­pect them to suf­fer with you for an un­cer­tain, mod­est salary.

You also do not want all your rev­enue go­ing to salaries. It’s a painful ex­pe­ri­ence to work so hard only to see all your rev­enue trickle down to em­ploy­ees. If you can­not af­ford them, don’t hire them.

Se­condly, as­sess your busi­ness to de­ter­mine its cur­rent growth phase.

Busi­nesses go through dif­fer­ent stages, and un­der­stand­ing where your busi­ness is helps de­ter­mine the peo­ple you need to take it to the next level.

Ad­di­tion­ally, as­sess­ing the busi­ness will help to de­ter­mine which ar­eas of the busi­ness are lag­ging and re­quire a bit more at­ten­tion.

Lastly, when you are ready to re­cruit and have ad­e­quate fi­nan­cial re­sources, make sure you find peo­ple who un­der­stand and buy into your vi­sion.

You want peo­ple around you who are not only there for the money, but are ea­ger to see the busi­ness suc­ceed. Munya Du­vera is CEO at Du­vera El­group.

Pic­ture: Bloomberg

WRONG AS­SUMP­TION. En­trepreneurs mis­tak­enly as­sume that em­ploy­ees should em­brace the com­pany vi­sion to the point where they are will­ing to work with lit­tle or no re­mu­ner­a­tion be­cause they buy into the vi­sion.

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