When is it the right time to hire people for your business? Knowing when and acting in a timely manner is vital in reaching your business goals. If you don’t hire quickly enough, the work will start to outpace your capacity and begin to pile up. Hire too early, and you may not have the cash flow you expected, putting your business and the new employee in a tough position.
There are many factors to consider, but a great way to determine if you’re ready to hire is by putting a peso value on your work per day. Say you determine that your working day is worth P1,000. If you’re doing tasks that would cost less for someone else to do, then it might be time to get some help so you could free up your precious time to innovate and make your business grow.
Here are a few tips from Mompreneurs Together to help you hire the right people, train them well, and build a strong team.
Hire the right people
The sister of your friend’s cousin may not be the right fit for the job. Take time to find out everything you can about your prospect hire. Invest some time in reference checks as well—it’s worth it!
Train your team
Communicate your vision and mission, and invest time in training sessions. You’ll give your team the tools they’ll need to be successful.
Create a positive work environment
Encourage them to be creative, innovative, and comfortable to take calculated risks. Help them learn from mistakes through positive and regular feedback so they are guided on what they can do to improve.
Reward your team
If you’re celebrating an accomplishment, do something special like a team dinner or karaoke. Not only will they have fun, you’ll motivate them to continue working hard and give their best efforts.
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Time is an expensive commodity for mompreneurs. Grow your business with the right people so that you could make time for work that truly matters for your venture and most especially your family.