Schmooze Control: Ten Ways Schmoozing Will Keep Your Business Growing
by Ty Freyvogel
Coming Soon
Hiring 101: 7 Ways to Hire the People Who Have The Right Stuff
by Ty Freyvogel
You took the entrepreneurial leap and it turned out to be the most rewarding (if exhausting) decision you’ve ever made. There is nothing quite like leaving the comfort of a guaranteed paycheck so that you can incubate and nurture a fledgling company toward success. Now, you’ve done all you can do on your own. It’s time to move to the next level—and it’s a level populated with other people.
That’s right. Unless you plan to remain a one-man (or one-woman) show, at some point you have to bring other team members on board. And choosing the right people will make the difference between a company that soars high and one that crashes and burns.
Believe me, I have owned numerous businesses and I would never have been successful without a worthy team of employees working with me to turn my dreams into something real—and profitable.
I cannot stress enough the value of seeking out the most dedicated, honest, and passionate employees you can find. After all, you have to trust these people to serve your customers, protect your brand, and help your company grow. It’s a major decision—so how can you tell which potential worker is worthy (and trustworthy) and which is a hiring risk? Here are seven tips I rely on to find the best people to serve as my extra hands, eyes, and ears within the companies I run:
Don't try to harvest a bad apple.
Some bosses think that they can hire someone who seems a little less than stellar in some area or another and turn them around. This is especially true of entrepreneurs; after all, it’s in our nature to be idealistic trailblazers. But where your employees are concerned, accept that most people don't change. Hire only people who come to you already equipped with the right attitude, good ethics, strong morals, and so forth. Employees who may steal from you or cheat you in any way are toxic to your business. (Believe me, I speak from experience . . . but that’s a story for another day!)
Before handing anyone the keys to your kingdom, meet with him or her several times, ask probing questions, and pay close attention to all answers. Yes, you may be in a hurry to get someone in place, but take the time you need to make sure you’re really hiring a “good apple”. . . not one with a carefully concealed rotten spot.
Pick the passionate people.
I love Vince Lombardi’s quote: “If you aren't fired with enthusiasm, then you will be fired with enthusiasm.” I always look for people who really want to make a difference with their careers. It’s very tough to fake passion, so if there is an obvious lack of passion in an interview candidate, trust me: you will know. I have found that the most inspired people are also the ones who are inspiring to work with. They set great examples for their colleagues and often develop profitable ideas that enhance the overall well-being of the companies for which they work.
Find the fighters.
You don't learn nearly as much from success as you do from struggle. Seek out people who haven't always had an easy ride. These are the potential employees who have not only the character, but also the brains and brawn to take your company to the top. One of my greatest employees was a woman who barely had a high school diploma. She spent most of her life pulling herself up by her bootstraps and even put her husband through medical school. After he left her for a “trophy wife,” I offered her the opportunity to work for me and build an exciting and lucrative career. She jumped at the chance. She turned out to be a great asset and one of the best innovators I have known.
As you interview people, find out what they REALLY want to do.
Then, hire them for that job. I can't stress enough the importance of hiring the right person for the right job. Sometimes people aren't even aware that they are working in the entirely wrong field. For example, when I bought a struggling Nutri-System franchise back in the ‘70s, I interviewed a nurse who let me know she really desired a sales position. How, I wondered, could a caregiver excel in sales? I'm glad I gave her the position she desired. Though it wasn't within her “official” niche, she was confident she belonged in sales, and she became our strongest seller almost immediately.
Hire folks you like.
It's simple but worth mentioning. If you sense someone is going to clash with you or others in your company personality wise, don't hire them. Peoples' personalities generally don't change, and annoying characteristics you may be able to overlook for a while will eventually become a permanent irritant in your work environment. Be it a shrill laugh, a sarcastic mean streak, a self-righteous attitude or a tendency to gossip, whatever “toxic” means to you, avoid it at all costs.
Hire folks who believe in you and your vision for the company.
You and your dreams deserve to be respected. You will be able to find people who naturally desire to do the hard work required to build a new company. It’s exciting and frankly, most passionate people want a challenging career. But finding people who are willing to buy into your goals isn’t quite so easy. Make a special effort to find go-getters who are on the same page with you—and who don’t seem to have “ego” issues—or you will feel like a cowboy trying to prod a herd of stubborn cattle straight up a mountain. Have faith. Keep searching and you will find people who believe in your cause as much as you do.
Follow your intuition.
If there’s one thing I’ve learned over the years, it’s that your intuition or “gut feelings” will lead you in the right direction almost every time. We really do know more than we think we do. Listen to what your intuition is telling you about a potential new hire, and you probably will make the right choice. Of course, this rule applies to all decisions, so it’s a good idea to learn to pay attention to that “still small voice.”
After a few years of experience, you will become very good at reading the people you interview for positions within your business and these tips and lessons will become second nature. The most important thing to remember for now, while your new company is just being born, is to stay calm and remain confident in your business during the hiring process. Trust that the right people for your team are out there waiting for you and don't let your fear in the face of uncertainty sway your decisions.
Yes, starting a business is scary, and it's very easy to yield to panic and hire just anyone. But if you hold out for the best possible group of workers, you will add yet another layer of your already strong foundation to your dream project—and your business will be that much more likely to survive and grow to great heights.
Becoming a Marketing Maniac
by Ty Freyvogel
Coming Soon
Making It To A Million: Five Milestones Along The Way
by Ty Freyvogel
When you start a business, you know that it will most likely not be a “get rich quick” venture. It takes time to build steady profits and reach certain financial goals. But if you have a good business plan and are willing to stick with it through thick and thin, chances are you will eventually make that first $1,000,000. Here are a few milestones that you will hit along the way:
Putting
that first dollar in the register. We’ve
all seen those framed dollar bills proudly displayed
above cash registers everywhere, from restaurants
to clothing stores to gas stations. The first dollar
that comes from the hands of a customer into your
register or account is a huge deal. When customers
start coming in and paying for your service or product,
you will know you are on your way. It is a great feeling!
My only advice: instead of framing that first dollar
bill (or $20 or check or debit card receipt), photograph
yourself holding it and frame that. Then, keep it
in the cash register and put it back into the business.
Paying off those start-up loans. Many entrepreneurs don’t have the savings to
start a business on their own and rely on loans to
get them started. When you make that last payment
on your loan, that little feeling that the business
isn’t completely yours will subside.
The bank won’t have any pull over you any longer,
and you can finally say that you own your own business
without cringing at the thought of those monthly loan
payments.
Your company begins to turn
a profit. This one speaks for itself. One
day you will be looking through your books and you
will notice something. You’ll notice that you
didn’t just break even this month, for the first
time you actually made money. Trust me when
I say that this will be an amazing feeling. This is
not the time to slow down the pace or stop trying
to develop the business. Keep up the hard work and
soon that profit will have seven figures.
You establish regular customers
and can maintain their needs. Regular customers
will play a vital role on your path to making a million
dollars. You’ll know that you can rely on them
during slow months. While you should never stop trying
to draw in new customers, just know that maintaining
your regular customers is where the money is. Most
companies make more money from “back end”
sales—multiple sales to loyal customers—than
from the initial sales that turn prospects into customers.
Keep repeat customers happy and you can’t go
wrong.
Steady and continued growth. If you take my advice and don’t slow down after
you first turn a profit, you will hit this major and
final milestone. You will have to keep developing
and growing your business in order to hit the million-dollar
mark. Realize that you may not be able to get to a
million with one product or service. Always be on
the look out for a new way to make money. If you continue
to grow your business and that growth remains steady,
you will hit six figures in no time.
It’s important to strike a healthy balance between realistic expectations and big dreams. While every entrepreneur wants to make lots of money in a short period of time, it can take many years to build your business into a million-dollar money maker. But if you stick with it and keep looking for ways to grow, you will get there. You can bank on it!
When To Say When: Know When To Let Go and Let Someone Else Manage
by Ty Freyvogel
Developing a business on your own can be a very rewarding process. And many entrepreneurs find it hard to let someone else take over the management side of the business after molding a startup into a successful, established company. At some point, though, you will need help with day-to-day details. I have found there are some tried and true ways to know that it is time to step aside and let someone else manage your business. Here are a few of them:
Things are falling through the
cracks. Customer complaints are going untended,
payroll was almost late for the month, and you sent
in the electric bill two days past due. These things
aren’t happening because you don’t want
to appease angry customers, or you don’t care
that employees have bills to pay, or you like working
by candlelight. They are happening because you just
don’t have enough time to get it all done. There
simply aren’t enough hours in the day. When
this starts happening, you’ll see the light
and realize that you can’t do it all yourself
and expect the business to keep running smoothly.
Employees
are unhappy. Maybe you aren’t the managing
type or maybe you haven’t had enough time (there’s
that phrase again!) to attend to the needs of your
employees. If you can’t provide them with what
they need to do their jobs, or if you haven’t
been able to talk to the accountant to make sure they
each get that promised raise, it won’t take
them long to become disgruntled. And they might take
it out on your customers or decide to leave you in
a time of need. You want your employees to be loyal
and willing to go that extra mile when a situation
calls for it. If they don’t feel you’re
doing your part to keep them happy, they simply won’t
be motivated to do their best work. When your employees
are unhappy with the way you are managing them, it’s
time to hire someone who can attend to their
needs. Who knows? You may not have to look far. If
you have a great pool of employees, chances are one
of them will be the perfect manager for your business.
You are bored with the same
routine. Most entrepreneurs thrive on excitement
and risk. If you get bogged down in the day-to-day
routine of the business, most likely your passion
will begin to wane. You will start making mistakes
and looking elsewhere for that adrenaline rush. As
a result, your business will begin to stagnate. In
order to keep up the passion that you started out
with, hire a manager so that you will have time to
develop other—more exciting—aspects of
the business. Doing this will allow the company to
run more smoothly and will free you up to look for
other ways to make money and keep the business growing
right along.
You are spending time developing
another business. If you’re like many
entrepreneurs, one might not be enough for you. At
some point, you will likely want to start another
business. If you have enough employees to keep things
moving, you may be able to spend time away from the
first business without it going down the drain. But
it is a good idea to have someone there to make sure
your interests and those of the business are being
taken care of. Hiring a manager allows you to stay
away without as many worries and prevents you from
coming back to a huge crisis that wasn’t handled
because you weren’t there to make the decision.
Letting
someone else manage your first business is not easy.
It’s kind of like dropping off your first born
at college for the first time, hoping everything you’ve
taught her will be enough to help her succeed. But
just as your child will benefit from college, your
business will benefit from having a great manager.
Operations will run more smoothly, employees will
thrive, and you will be happier because you’ll
be free to develop the business in other ways. It
may not be easy, but if you hire the right person,
the pain of “letting go” will definitely
be worth it.
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