The latest buzz words about employment practices are “Hire Slow, Fire Fast.” This is the modern day equivalent of the proverb, “Measure twice, cut once.” Essentially, this is a pretty good rule of thumb for any business. Even Internet start-ups would do well to think about this axiom. Although competition is fierce, it pays to do your homework and vet prospective employees. Just as a carpenter saves time, money, and lumber by taking a little bit of extra time before cutting the wood, an employer will save time, money, and headaches down the road by taking a little extra time in the hiring process.

Why? If you take just a little bit more time to hire someone, you are far more likely to hire the right person for the job; someone who not only has the qualifications needed for the position, but someone who is compatible with you and the rest of your employees. Thorough vetting is an employer’s way of measuring twice.  You also do not want to add to your payroll until you absolutely have to.

While it is true that using the hiring slow principle may not net you the ideal employee, the odds are still in your favor of hiring a solid, long-term employee who will fit well into your organization. Another advantage of taking some extra time in the hiring process is that in the long run, you will save time. Hiring someone who is the wrong fit, or whose qualifications aren’t quite up to snuff, will cost you time and money. You’ll have to go through the added paperwork (and angst) of firing the new hire and repeat the entire hiring process in order to find a replacement.

The other part of the equation, firing fast, is equally important. As brutal as it may sound, it is to everyone’s advantage to dismiss an employee quickly if his or her performance is subpar. An employee’s poor work performance affects your bottom line and the morale of your other workers. Unfortunately, even though it is strongly advisable to fire fast, you do have to consider any and all complications that may arise in firing someone. That’s why the hiring slow rule is so important; it greatly reduces the odds that you will have to fire the person for any reason.

3 Guidelines for Hiring the Right Team Member

The process of hiring new team members cannot be handled lightly. Doing it poorly will cost you time and money. It’s expensive to find, train and test new team members. Not to mention, when you hire a new team member, you’re putting your own integrity and success in the balance. You’re bringing a new person into the business you have worked tirelessly to build, maintain, and make a living. You want to find team members you trust. What’s more is that you want to find someone who fits into your business’ culture and who will grow with the business. This clearly takes a hiring system to do it right. These 3 things to consider including in your system to be sure you’re getting what your business needs.

1. Don’t Oversell.

As a business owner, sometimes it’s easy to overstate the job descriptions for open positions. You have spent so much time and energy developing your business that likely, you, too, have done many of the same tasks you’re looking to hire for. You love your business and you want everyone to love it, too. But don’t feel the need to hyperbolize the day-to-day duties when you’re looking to fill an open position. Be honest about the responsibilities and have a clear position description of exactly what you’re looking for. Don’t get bogged down trying to show how many perks there are. Rather, clearly state the job’s responsibilities and tell the candidate exactly what he or she can expect. Of course there is nothing wrong with being up front about the perks, but that conversation can wait until after the prospective hire is interested in the job itself, and all the responsibilities that go with along with it.

2. Take Your Time.

When you’re looking for a new team member, you’re not doing yourself, your business, or your other team members any favors by rushing to fill an open position. Making an unsuccessful hire will result in a squandering of two things you can’t afford to waste—time and money. Do thorough background checks and prescreen each candidate before they even come in to interview. Try to have an understanding of the candidate’s skills and experience so when you do have a face-to-face interview, you can focus on the candidate’s attitude and personality.

3. Ask Meaningful Questions.

You’ve done your homework and now you’ve invited three candidates for an interview. You’ve already narrowed the candidate pool by eliminating candidates who don’t meet the required skills and experience, so now it’s time to discover what person (not candidate) will be a useful addition to your business. Of course there are standard interview questions, and they can prove to be effective. But take some time to develop tailored questions based on his or her resume. Since you’re the most familiar with what job they will be doing, use the interview to question them about how their skills and past experiences will help him or her handle certain situations that might arise in your business. You’ve taken measures to clearly define the job’s responsibilities and you’ve slowed down the hiring process to ensure only the most viable of candidates are considered. There’s nothing wrong with getting specific about what your business is all about and certain obstacles they might come across. Listen and learn, too. If you’re doing all the talking, though, you’re missing out on an amazing opportunity to lay groundwork for open and honest communication. Ask meaningful questions, but listen carefully to the answers.

Starting your own business can be an arduous process.  Many barriers and a high potential for failure exist. But the rewards can be great.  Here are some entrepreneurial thoughts to consider…

See Problems….Solve Them…

One of the most common ways of finding and developing a business idea is identifying a problem and to solving it. If you are able to see a need for a particular product within a particular target market, you can begin the implementation process to determine the potential success if pursued. From the beginning you must have enthusiasm, passion and be committed to your business idea. A business’s success is found in the vision and commitment of its creator A strong, believable vision often leads to proper implementation and a higher success rate

Once you have your business idea and are committed to its implementation you must identify your target market. Select a small section of the potential target market and test your business idea. Next follow up with feedback from the test market, which allows you to gauge the market potential and whether or not your business idea is worth pursuing. It is important to note that as you develop your idea that you must be open to change and alterations and understand the buyers perspective.

Entrepreneurship is tough and has a high degree of failure. The truth is a majority of small businesses fail within the first two years. So it’s important to have a solid vision and pursue your ideas with “flexible” enthusiasm that leads to best possible opportunity for success.

5 Tips for Soon-to-Be Sales Geniuses

It’s all very simple. You’re a sales representative. Maybe you’re a rookie who is establishing your voice, or a veteran stuck in a rut with numbers doing very little to impress or your boss or your company. That’s OK. I’ve, with the help of some sales experts put together a list of what I think to be 5 most important rules that all sales representatives, from all experiences and backgrounds, should remember and—most importantly—implement into their daily sales calls.

1. Comport yourself with great pride and confidence…

In the sales world, it’s not a sin to be confident of yourself and your product. Remember: the company’s headquarters is where the product is made, but without you and your daily diligence, the product may never reach the consumer. What good is that for anybody? So feel good about it and be knowledgeable. Be charming, but not smarmy. And be proud of your product because the more confident you are, the more comfortable the buyer will be.

(adapted from Barry Farber via http://www.entrepreneur.com/salestips/)

2. Visualize success.

Professional athletes visualize their next shot or next swing all the time. And while I know I don’t need to debate the differences between pro athletes and sales representatives, there is a lot to be gained from visualizing your day, your week, or even your next sales call. By creating a clear image of where you want to go and the goals you hope to achieve, you’re in a sense tricking your brain (and body) into what business writer Barry Farber calls creating your own luck. But it isn’t luck. It’s a way of programming yourself to be the person in that crystal clear image in your mind’s eye. Go ahead, be who you want to be. Be who you know you can be.

(adapted from Barry Farber via http://www.entrepreneur.com/salestips/)

3. Use testimonials. 

If social media has proven anything, it’s that word of mouth hasn’t gone anywhere. In fact, word of mouth may be even stronger today than 25 years ago. Be prepared: sometimes a potential buyer will be skeptical of your product. Sometimes, even if you’re confident in yourself and the product, and your visualization is set to “success,” you may still need to prove your product’s worth and long term benefit. What better way to sell a product than to show the results? Tell stories about your other businesses whose numbers have soared since buying your product. Get positive quotes from individual customers. Use the hard work you’ve already done to educate a potential buyer about the rewards your product has to offer. Show your product’s value.

(adapted from Bob Bly via http://www.entrepreneur.com/article/51268-5)

4. Learn to listen.

Everyone knows that sales is a business of people. So, you’ve developed a pitch. You’re confident, you know what your goals are, and you’ve got an arsenal of dazzling product reviews. You’re giving your presentation and you’re really quite brilliant. And at the end, they decide not to buy. Why not? Great sales pitches get the potential buyer interested, but what’s often times missing in a great sales presentation is what the potential buyer wants to say. They want to have a conversation about how your product can help them. Don’t bore potential buyers buy talking the whole time you’re with them. According to Linda Richardson, “You should be listening at least 50 percent of the time.” Take notes. Observe your prospect’s body language. Concentrate as much on selling as on what the customer wants.

(adapted from Linda Richardson via http://www.entrepreneur.com/article/51268-3)

5. Follow up.

Chances are, in Sales Theory 101, you learned about how valuable following up with customers and potential buyers is. Sending a quick thank-you note or making a phone call, even for a few minutes, shows you’re paying attention to the customer, that you value their business. There’s also nothing wrong with being sure a prospect who is close to buying knows you’re always available to attend to their needs. Demonstrating your attentiveness will keep your name and product fresh in the prospect’s mind. And next time you talk, they’ll remember how devoted you were when they were still a ‘prospect.’ Remember: your job isn’t done when the sale is made. Make the buyer comfortable by knowing you’re always there to help.

(adapted from Linda Richardson via http://www.entrepreneur.com/article/51268-3)