The Money Podcast The 6 S Stages of a Sustainable Business: Staffing
Working on your business and not in your business is essential for growth so understanding how to hire the right staff and create the right systems is vital for your business's success. In today’s episode, Rob shares with you the four staffing strategies to implement in your business, ten important things to know about staffing and hiring and the top five sources for recruitment.
If you want to become a better leader, founder, entreprneur and business owner you need to empower your employees, inspire them and motivate them to succeed. If you’re looking to build an empire and create a legacy you need to grow your business and work towards the big picture you’ve set yourself, and if you want all of this tune in today to hear how.
KEY TAKEAWAYS
Four staffing strategies to implement in your business.
- Don’t hire until everything breaks. Keep a lean overhead until your stress levels reach overwhelm. It is then when you should begin staffing-up.
- Hire in advance (3-6months) this means you can onboard them, train them and systemise them so they’re up to speed for when you actually need them. This is more proactive.
- Always be recruiting and rolling out ads on LinkedIn and recruitment websites. This will give you a contingency in your business for when staff leave or go on maternity leave.
- Lots of modern business outsource and use VA’s as their workforce. This can keep the costs down and the business lean. However, you might not have that buzz around the office and be able to train/impact on your staff if they’re outside or external to the business. Staffing and whether you choose to insource or outsource will depend on your business and your business values.
Ten things to know about staffing and systems
- There are three stages to consider when working on your business. Your own tasks, business systems and processes and staffing and hiring. It can be chaotic as an entreprneur as you’ll find yourself doing all three. The solution, to focus on leveraging and managing people to inspire and motivate them so that they will take your company to the next level.
- If you want to grow you have to let go. You’ve got to let your employees manage projects and allow them to thrive, whilst you won’t want to let go of the project yourself you can set them KPI’s to keep them on track.
- To de-risk staffing, you can manage your employees with minimum standards or performance (MSOP) ideally linked to revenue targets. In the first 1-2 years of employment, you have a lot of rights when it comes to employing staff.
- Your employees are intrapreneurs and not entrepreneurs so they’re not the same as you. To get clarity when hiring make sure you have clear job descriptions. This includes the company values, vision, job, role, KRA’s (Key results areas) and IGT (income generating tasks)
- The structure, operations, function and purpose of your business and staff roles needs to be put into an operations manual and check-list. This will make your business more dynamic, scalable and saleable.
- Create a good onboarding time to allow your new staff to learn the business the systems and the processes. Judge them on effort and not results and let them learn the culture of your business.
- There are three things proven to be more important than salary for your employees. Progression, Recognition and Autonomy (PRA) make sure you address all of these with every member of each team.
- An entrepreneur and a manager are different they have different pros and cons. An entreprneur creates the vision and the big picture and the manager is more organised and methodical so work out which one you are. Balance excitement with realism and you’ll have a great balance for your team.
- Should you hire on aptitude or attitude? Their skill-set or their mindset? You should aim for a balance of both when hiring for your business.
- Culture and values are important to hiring, this is the personality of your business and what makes you special. This should be prevalent in your recruiting and communicated to your staff.
Top five sources for recruitment
- Local recruitment agencies
- Specific agencies (IT agencies, Sales agencies etc)
- Referrals from staff (commission based)
- Asking on social media (Facebook)
BEST MOMENTS
“Become a better leader, founder and entrepreneur and inspire people to work for you. There’s great leverage in working with people you’ll help them and you’ll help yourself.”
“For most entrepreneurs, they will get busy and make money before hiring people. They will usually hire reactively.”
“Always be recruiting”
“People are your greatest asset”
“Learn how to work on your job, not in your job.”
“Every entreprneur and every business goes through a growth cycle. Every business that has one-thousand employees started with one.”
“Every salesperson should bring in three times their salary”
“The three most important hires are a marketing person, assistant admin, sales and an operations manager”
VALUABLE RESOURCES
Rob Moore’s six month model for building a scalable and sustainable business.
Module 1: Start-up
Module 2: Sales
Module 3: Systems & staffing
Module: Survival
Module 4: Scaling
Module: Sustainability
Onlinejobs.ph
Upwork.com
99designs.com
ABOUT THE HOST
Rob Moore is the host of the UK’s no. 1 business podcast “The Disruptive Entrepreneur,” and “The Money Podcast” as well as an entrepreneur, property investor, property educator, and holder of 3 world records for public speaking. He is also the author of 9 business books, 5 UK bestsellers, and the global bestseller, Life Leverage.
“If you don't risk anything, you risk everything”
CONTACT METHOD
Facebook - https://www.facebook.com/robmooreprogressive/?ref=br_rs
LinkedIn - https://uk.linkedin.com/in/robmoore1979