Question: What is one thing many entrepreneurs get wrong when hiring for the first few times?
Hiring Just for Talent
"Your first few hires set the culture tone of your company. I've learned through experience that hiring people just for their talent and not their teamwork abilities can severely jeopardize a company's mission. The common test is to see if you can withstand hanging out with this person for multiple hours beyond the typical 9-to-5 gig. If you can, perfect. If not, that can throw off other teammates as well."
@bigfishpresco
Classifying New Hires Incorrectly
"Many entrepreneurs will want to classify early hires as independent contractors and not bring them on to employee payroll in order to avoid dealing with withholding, benefits and employer taxes. While some early hires may be correctly classified as independent contractors, most are truly employees and need to be accounted for as such -- failure to do so can raise real issues with the DOL and IRS."
@MintonLawGroup
Not Constantly Hiring
"Our mantra at CHHJ is to hire slow and fire fast. We also say 'always be hiring.' Most entrepreneurs look at hiring as an event, but it's really an ongoing process. Most entrepreneurs look for the quick fix when hiring because they’re so busy with everything else and so they end up making the wrong decision. "
@NickFriedman1
Underestimating Value and Culture Alignment
"The first time you hire, you usually focus on technical skills and assess the candidate purely on experience. However, you quickly realize that working well with someone as part of a team requires cultural alignment. You have to assess whether or not they have the same values as the company."
@RandyRayess
Lacking Foresight About Candidates
"The practice of hiring folks based off of previous performances and achievements is probably the gold standard for most industries. However, for entrepreneurs especially, it’s more important to hire based on potential for success in the specific job they’re interviewing for. Reason being, not all skills and accomplishments can be translated directly from old to new contexts."
@firaskittaneh
Not Taking Culture Fit Into Account
"A candidate could be the most qualified person in the world for your role, but if he or she won't fit in with your company it won't work out. Understanding what kind of environment candidates have flourished in in the past, and what kind of setting they wouldn't enjoy, are important to identify upfront."
@phildumontet
Hiring Based on Charisma
"Many entrepreneurs make the mistake of hiring based on the individuals that are the most charismatic. Make sure you do a multi-interview process and have potential new hires do homework that is required for obtaining a new position at your company. This helps ensure that you know the quality of work these individuals produce and their true interest in working for your company."
@mspinosa
