How To Hire – Hiring Tips For Online Entrepreneurs
I have a theory about hiring people and it is a little bit controversial so do not read this unless you’re into controversial theories about hiring people.
Make sure they produce
When you are hiring someone, in the first 24 hours if they give any excuses or don’t deliver anything, as a general rule, you fire them and go to the next applicant. It is almost always a buyer’s market when hiring and every time I broke this rule, and I mean 100% of the time, an employee ended up developing that as a habit.
They don’t just do it that one day, it is a habit because people do the same thing every day. The thing that they do that first day is generally what they are going to do every single day. If after one day you even have a hint of a thought that you want to fire that person, then do it. It is just the first day, do not worry about it. This applies to the first week as well.
What if I told you I like hiring people for three dollars per hour?
Does this make me a bad person because I don’t pay them a lot of money? Or is there something else going on here?
I like hiring people for three dollars an hour because those people are often times very capable and very good workers. They just ask for three dollars an hour, I run a business, and I want to run a profit, but also in their country three dollars an hour is enough to survive. Just because to you or me it sounds like not a lot of money, it does not mean that it is a bad deal. It was the market value of the work that that person produces.
Now what if I decided to hire that person and I decided to say that I was not going to pay them three dollars an hour because that is not enough money, but I am going to pay them $25 an hour for the same person with the same cultivation? So what happens then?
That person then is thinking they, “made it” and they are achieving everything they want to achieve in their life, they already have all the money they ever want to make, they can focus on all the other areas of their life, they don’t need to develop themselves, they don’t need to learn skills, and they do not need any of that because they can just make their $25 an hour for the rest of their life and retire.
Whereas, if I keep paying them three dollars an hour, here’s what happens then: they make enough to survive, because in their country that is a lot of money to survive, I can hire multiple people so I am not just hiring one person but I am hiring two, three, four people, they all have a job and all have an opportunity to learn from me and develop themselves some new skills and improve their market value.
Keeping people motivated and always developing
What I like doing is paying someone enough so they are motivated to stay with me and keep doing the job, but not so much where they think that they have made it and do not need to develop themselves. Someone who gets paid just enough is very motivated and every day they wake up and feel like they are on their path up instead of just a horizontal path. When they are on a horizontal path, meaning they are not improving themselves, they are actually losing value and their perceived value and market value goes down.
This is the same as if you are running a business. If you’re running a business and not developing or improving every day, every month, every year, then you are actually losing market share. You are losing your business slowly but surely. This apply to jobs, business, and everything else.
You want to keep people motivated and you want to still make it profitable for yourself because business means you need to make a profit and not just give away all your money to employees. You also want to help them grow, though.
Offer experience and value rather than higher pay
The deal I make is I will pay a certain amount of money, and it is not the best in the world, but you will learn and you will develop yourself. Anyone under the age of 30, or even anyone older than that, this is what you should aim for. You should get a job where it’s not necessarily the highest paying in the world, but you are learning from someone who is a real hustler and from someone who is actually trying to help you develop yourself.
Charity does not work when hiring
Not everyone gets that. Some of my friends from college went on to get a high-paying job and they are still doing that job eight years later. They are not developing themselves as much as they could. Not everyone, or anyone, reading this from my college is implied about though.
That’s why I believe in hiring for just the right amount of money and hiring a lot of people, giving everyone an opportunity, and picking out the best people. Pick out the most deserving people and have them develop their skills so they can help themselves. Charity does not work. What works is having people help themselves and having people hustle for themselves.
The more people that realize they don’t need charity, the more realize they don’t need their hand to be held, they don’t need to be helped carried forward, they don’t need someone else to take care of them, they will realize that they can take care of themselves, help themselves and improve their own skills and the better the world will become.