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.
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.
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.