Hiring others to do some of the work for us is necessary if we want to save a lot of time. However, if we are really tight on budget, it seems that we can’t afford hiring someone at the moment.

If you really have financial difficulties, but you do not have the time to do all the work, what should you do? Quit?

Definitely not!

Quitting is easy, but if you are persistent enough the pay off is huge.

In fact, most successful people today endured a lot of failures to stood out from the crowd, in order to maintain their position and status, they had to fail even more…

 

What Options Do You Have?

1) Continuing doing it all by yourself, it often times does not matter how fast you are moving as long as you are getting things done or driving things to completion. It may be a slow process, but if you really enjoy what you are doing…

…you may want to stick with that option until you get some desirable cash-flow, by working on the money-making activities within your business and find someone to replace you along the way by outsourcing the tasks that consume most of your time.

That’s why it is critical to start a small project first, before you start the big project that might take months to complete, because you need IMMEDIATE CASH, and you can use that cash from the small project to finance the big project.

Today, with the power of Internet, we are fortunate to have the ability to run entire company all by ourselves, because the tools we have today create a lot of leverage and most of them automate the process in a way that make things easier for us.

There’s always a tipping point where we can’t handle it all, but I am talking about the first couple of months, even the first year. You may want to try doing it all by yourself, again, only if it is fun for you, and you love discovering and learning new things.

In fact, as you do all the work yourself, you’ll become familiar with all business operations and see which one are the critical ones, so when you hire someone, you know what to expect from them, because you already have certain frame of reference.

Example: most entrepreneurs haven’t done any technical stuff, they outsourced it. So they are completely ignorant on that area, and if they need somebody to handle the technical part within their projects, they wouldn’t know what to look for, because they have no frame of reference of what the particular job entitles in the first place.

Word of cation: when you are trying to do it yourself, you need to have a spare time. If you are busy all the time, putting off fires, and there’s no at least 2-4 hours per day that you can spend working on your business, then you should really consider outsourcing.

However…

As long as you complete a task, if you are doing it all by yourself, this alone is going to motivate you to move forward. When we bring tasks to completion, our brain releases endorphins (the hormone of happiness) that gives us pleasure in completing a task or when overcoming major bottlenecks.

This is quite important as you work, and relying only on yourself to bring tasks to completion so that this alone to move you one step closer. It does not matter how fast you go, as long as you stick to it and get things complete.

Of course you want to move with a relatively good pace, but in general, quality is over speed.

2) Getting someone (at least 1-2 people or more) to do the biggest bottlenecks within your project. Things that take a lot of time for you to get done.

You want to bring people on your team who know what they are doing. You need people who have a lot more experience than you in every area of your business, so that as you hire them from day one, they can begin working on it, without training them or anything. In fact, those kind of people are actually paying themselves.

And the best of all, you pay only for results.

That’s why hiring appropriate people for the job is critical. If you do not hire good performers for the job, they are going to be an expense, and take money out of your pocket, because they are poor performers. Read my article on top 3 business owners mistakes in hiring people!

If you hire good performers, you do not even have to pay them out of your pocket, because what they produce is going to be at least 2-3 times more than what you actually pay them. Those are the kind of people you need as you are getting started. So the budget you have does not really matter, because those people are actually a profit, rather than an expense.

Let me give you analogy of this.

If you buy ads with Google Adwords for example, and the cost per lead is about $1 (when they land on your page and opt-in), but you have an offer to the “thank you” page selling an ebook for $19.97. If your conversion rate is 20%, that’s on every 100 leads you get 20 people who actually buy the ebook, you’ll get $399.4, but the cost for having those 100 leads is $100, so your net is $299.4.

The ads you are paying in Google Adwords are PAYING themselves, because you have an offer that converts on the back end.

Same with outsourcing, if you pay a person $40,00 a year, and they produce $120,000 for the entire year, based on their performance, you do not have to pay they $40,000 out of your pocket, because they already paid themselves $40,000 + giving you $80,000.

 

Now, The Question Is, “Where To Find High Performers?”

The video below is an 1 hour and 25 minute webinar with John Reese, who recently launched “Outsource Force” Program. You may watch this free webinar here for getting tips on hiring effective people that make the difference in your business, without worrying about tight budgets!

 

Warning: To get more information about outsourcing subscribe to my email newsletter, above this article, there’s an opt-in box, put your first name and email address there to get you started!

 


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Who Should Not Hire And Why?

I am about to share with you things that took me long time to figure out for myself…

As stated in People Management article, the average dollar cost of a mis-hire for small business owners who make $100,000 a year is about $1.5 million – research done by Smarts & Associates Inc. – it becomes obvious that hiring the right people for your business is not just a necessity, but a set of direction…

If you do not hire the right people for your business, there’s no way of moving forward, regardless of personal ambitions, aims and goals.

Now, that’s a tough one to say, but there will be no business, if there are no spectacular people that work on your team.

“Take our 20 best people away, and I will tell you that Microsoft would be an unimportant company” – Bill Gates

That’s why the importance of hiring great individuals and assembling great teams in crucial.

Having that said, here’re the top three mistakes to avoid when it comes to hiring and outsourcing:

 

Mistake #1: Waiting Until You Have The Need, And You Are Desperate…

Typical situation for this could be, getting a manager or doing it yourself where at some point you realize that you need to hire someone, because you cannot handle it all yourself. Then, letting that need go for a while, until it becomes unbearable and finally “ready” to hire someone.

Now, what most people do not realize here is that you have to pay a WAITING and WANTING tax. Why?

Because if you have to quickly scramble and hire somebody, you get under pressure by getting the job done, and eventually hiring ANYONE than having no one is better. It is almost like you are “forced” to hire someone, because of the emergency in the situation.

What’s the problem with that?

When humans are under pressure, we do all kinds of crazy things …we imagine the perfect outcome, we idealize, and eventually when we interview someone, ok great … you are perfect, here quickly come in and help us out…

You do not want just to hire anyone, because this is going to affect the overall performance of your business, not just that area where you need a person. Eventually, mis-hires become the bottleneck of your business, and they really slow things down.

Often mis-hires protect themselves by making things look complicated, so when you do not like this person, because of the “complexity” of the situation, you can’t fire them, because it creates the assumption that no one else can do this job…

All the sudden we become “prisons” in your own business, because of not taking under consideration the correct hiring process. I encourage you to get this book: Topgrading: How Leading Companies Lead By Hiring, Coaching And Keeping The Best People. It is going to definitely improve your current hiring model and increase the flow of great potential candidates.

Our job is to hire slow, bur fire fast… if you turn this around you better prepare yourself for a disaster.

 

Mistake #2: Hiring People That You Like…

This is a little non-intuitive, because likability plays a critical role in relationships. However, when you hire someone because of the things they say to you, it is often different than the results you get pursuant to their performance. Why?

Because we usually identify ourselves with the people we like. We think that they are like us, based on the responses we get from them on interviews or during sessions.

There’s a huge difference between “talking or promising great results” and actually performing certain activities to get those results.

People who are usually great talkers are usually low performers, there are few exceptions to this, but you want to judge people by their actions, not by their words and promises.

 

Mistake #3: Hiring Someone Who Likes Us

It is a human nature to have this personal desire of everyone to like us and want us. This is great, but when it comes to business, things are a little different…

Often we fall into a trap of hiring a person that fancies us. Those people are usually trying to get a stable and secured job. It is nothing wrong with that, but they just are not a business oriented people.

The business world is different from the job world. When people are looking for “jobs” they care more about what’s going to happen with them, rather than the business.

A person who’s dedicated to the job world is trying to get or extract value from his or her employer. However, business oriented people always look for giving value first regardless of the outcome.

Before you hire someone, you should ask yourself if that person is job or business oriented. It is best if you ask them… however, their behavior should determine very clearly their intentions.

Often, there are people who study, “How To Fake Your Way On An Interview…” Well, when I was in college, I’ve seen a lot of manuals and study guides like this …

When someone learns how to deal with interviews and overcoming objections, this does not necessarily mean that they are great performers. Those kind of people are usually well “polished” from the first contact to the interview and beyond…

It often sounds too good for your ears to be true, and it seems that you finally found the person you were looking for….well, think again. Have they performed yet to see what results you can get from their efforts? If you did not, do not just walk away … RUN!

We should not judge people based on what they tell us, but based on how they perform …

If you want to learn more about hiring and outsourcing, visit this article, and watch the video blow.

 

The Bottom Line Is…

These are perhaps the four most important words in business that I’ve learned from Allie Longoria (Owner At SendMeSolutions) “Hire slow, fire fast!”

The question is, “How to hire great candidates?” Check out a free video series that I’ve personally prepared to show you how!

 

Allie Longor


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