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11 Red Flags Startups Should Avoid When Hiring
Jan 10th
Getting to a point where it’s time to hire employees is a huge milestone for startups. But there are lots of things to consider when looking to hire someone to join your startup team, including whether or not that person’s goals are in line with the company goals and how good a fit the candidate is with the company culture. Ultimately, it might just be a matter of what your instinct is telling you about the candidate’s character and motivation.
We asked members of the Young Entrepreneur Council (YEC), an invitation-only nonprofit organization comprised of the country’s most promising young entrepreneurs, this question:
“What are some major red flags that startup management teams look for when hiring new employees?”
Here’s what the YEC community had to say about hiring for your startup:
1. Gut Check Test
“A candidate may meet all of the requirements on paper. They might present well in person. But, most importantly, do they pass your gut check test? Don’t let your urgency to hire cloud your vision. Including several stages of interviews during the hiring process will help you to get to know the candidate better to be able to determine if they will truly be a good fit.” ~ Abbie Davies, My First Yoga
2. Watch Out for Slow Responders
“In the early days of a startup, there is little redundancy. This means if an emergency hits you need all hands to help, regardless of what time it is. It’s hard to tell in an interview if someone will be there when servers go down at 3 a.m., but a great test is seeing how quickly candidates respond to your communications. If they really want to join your team, they’ll be all over them.” ~ Jason Evanish, Greenhorn Connect
3. Is it Just a ‘Job’ to Them?
“Some people looking to be hired just want a job and are not there to really contribute to your mission. Get to the root of why they want to work with your business and if there is a passion there. If there’s no passion you know all you need to about bringing that person onto your team. You need a solid group who like the idea, want to help it grow and also learn more along the way.” ~ Ashley Bodi, Business Beware
4. Did You Do Your Homework?
“I interview prospective employees on the phone first. One of the questions I ask is what they know about my company. Repeating sound bytes from my job posting will not cut it. If someone has learned nothing about my company before applying, I know that they are not the kind of person I want working with me. I need employees who make things happen–not ones who wait for things to happen to them.” ~ Vanessa Nornberg, Metal Mafia
5. A Lack of Personal Projects
“Whenever I’m considering a new hire, I go looking for any side projects that individual has worked on — blogs, open source projects and so on. Those sorts of projects tells me that a potential employee can work on her own without me staring over her shoulder. It also says that a person is a self-starter, which is a great indicator that she will do well in a startup situation.” ~ Thursday Bram, Hyper Modern Consulting
6. ‘I Don’t Like Being Micromanaged’
“This is an immediate red flag when brought up in an interview. Employees who generally use this line are those who don’t want to be managed by goals/results, and instead, wish to run with their own agendas or what “feels right” to them.” ~ Warren Jolly, Affiliate Media Inc.
7. Unclear Goals
“Always ask prospective employees about their goals. Not only will it tell you interesting things about their personality, you’ll also be able to determine whether this person will be a good fit for the company in the long run. If they don’t have any goals or their goals are unclear, proceed with caution. They may be taking the job for a paycheck instead of working with directed focus.” ~ Lisa Nicole Bell, Inspired Life Media Group
8. Concern With Hours
“It’s not that we all need to work 120 hour weeks. It’s not that you have to be in on Sunday. It’s not that you need to give up your girlfriend or gardening. It’s that there are no hours; a startup is a mission and a mission doesn’t have a daily start and end time. If something breaks at midnight, we fix it. If the sun begs an afternoon run, take that run. This isn’t a job. This is a lifestyle.” ~ Derek Shanahan, Foodtree
9. I Love the Startup World!
“Do they really? Why, what have they done, who do they know and how are they trying to get involved in the startup scene? Do they have a clue how different the role can be at a startup compared to a big company? Many people who “love” the startup world actually want a big corporate job but they heard tech startups were cool.” ~ Jared O’Toole, Under30Ceo.com
10. Is This Employee Too Entrepreneurial Minded?
“If you are hiring an employee, you’ll want to find someone who is on board for the long term. Startup management teams often can sniff out when a candidate is too entrepreneurial and has no intention of staying with your team for longer than a few months. Listen to your gut and if this person is the type who simply wants to work for themselves, don’t hire them.” ~ Matt Wilson, Under30CEO.com
11. Honesty and Integrity
“Skills and knowledge can be taught where as honesty and integrity are inherent to the personality of the applicant. Search for honesty and integrity first and then select the most skilled from that list. Not having honesty and integrity will cause problems and cost real dollars down the line.” ~ Lucas Sommer, Audimated
Red Flag Photo via Shutterstock
11 Red Flags Startups Should Avoid When Hiring
View full post on Small Business News, Tips, Advice – Small Business Trends
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What Will It Take to Get You to Start Hiring Again?
Sep 14th
Sure there’s lot of political talk about job creation, but let’s ignore what the politicians have to say. Instead, I want to look at what it would really take for small businesses, long touted as the “engine of job growth,” to start hiring again.
Actually small businesses do want to hire. In fact, 40.7 percent of those surveyed in an ongoing study of privately owned businesses conducted by the Pepperdine Private Capital Markets Project and Dun & Bradstreet Credibility Corp are planning to do so in the next six months, compared to 38.1% who have no plans to hire and 21.2% who are uncertain.
But access to capital is a huge stumbling block for the companies in the survey, all of which had annual sales under $5 million. Asked what policies were most likely to encourage them to hire in 2012, “increased access to capital” was cited by (34.8 percent), with tax incentives ranking second (23.2 percent) and regulatory reform third (18.3 percent).
Where would small businesses like to get capital? Bank loans were the preferred financing source for the majority (70.7 percent). Angel capital, the second most desirable funding option on the list, fell far short, cited by just 35.7 percent of survey respondents. Private equity (28.1 percent) and venture capital (27.2 percent) were close behind.
However, of those small businesses that had actually approached banks for loans in the past 12 months, only 44.5% obtained a loan. Whether or not they were successful, the study showed that the average business owner contacted 2.2 banks and spent 16 to 24 hours of time on the loan process.
In announcing the results, John Paglia, lead researcher of the Pepperdine Private Capital Markets Project and associate professor of finance at Pepperdine University’s Graziadio School of Business and Management, suggests that small businesses may be losing their incentive to pursue bank loans.
“Many businesses are now questioning whether contacting banks for credit is worth the time invested. Taking 16-24 hours away from ‘minding the store’ to pursue a loan can be extremely detrimental to any small business, especially when the odds are not in their favor,” Paglia says.
Personally, I realize that 16 to 24 hours is a substantial time investment, but if the result could potentially be a capital infusion that saves your business or helps it grow exponentially, I’d consider that a small price to pay. I’d also note that getting capital from VCs, private investors or angels is likely to take substantially longer than 16 to 24 hours.
But I also see Paglia’s point. Small businesses are losing faith. They doubt going through the normal channels will get them anywhere. And if small businesses can’t count on finding capital, they won’t have the confidence (or money) to hire.
Any entrepreneur who had to lay off staff in the Great Recession most certainly doesn’t want to do it again. As business owners, letting go of a team member hurts, so hiring isn’t a decision we make lightly.
What Will It Take to Get You to Start Hiring Again?
View full post on Small Business News, Tips, Advice – Small Business Trends
Hiring Employees for Small Business
Sep 3rd
While small business hiring is slowing, it’s still happening. The method for getting new hires may be shifting, thanks to social media, but small business owners still want the same thing: qualified employees who will stick around. Here’s your guide to hiring for your business.
Who to Hire
What employers look for is changing, and rightfully so. With budget cuts and a shrinking pool of available jobs, employees need to be able to take on more and bring their own ideas to the table. That’s why you should, says Jennifer Prosek, hire an army of entrepreneurs. Entrepreneurial-minded employees tend to be more proactive and willing to take on more responsibility, which can help in a small business’ success. MSN
Hiring an intern? Don’t grill them about their experience…since they likely have none. Instead, focus on their hobbies and interests. Asking what they hope to get out of this internship can help you craft the program, if you don’t have a set system in place, and it can be customized based on what your final pick is interested in learning. Your goal is to understand more about what kind of person this is, and what her dedication to the role will be, rather than what she already knows. Glass Door
Interns
While having free or cheap labor around to take care of small tasks sounds good to you, keep in mind that hiring an intern requires time and money on your part. You’re expected to provide job training for the college student or recent grad, so it’s up to you to develop an intern program that has structure and on-the-job training. The bonus? You’re training a future employee at a fraction of the cost. OPEN Forum
Not all internships are created equal, it seems. Many companies are booting out costly employees and replacing them with unpaid interns, at the detriment of their brand’s reputation. Slave labor indeed. But, as Small Business Trends’ Ivana Taylor points out in the comments, times have changed. Once upon a time, a college grad would be happy to get an internship period, paid or otherwise. Just play fair, and give your intern skills to walk away with. Bloggertone
How to Hire
Did you know it can cost as much as $14,000 to replace a single employee? That’s why working with a recruiter might be beneficial for small businesses. Recruiters have a Rolodex of qualified candidates and know your market – maybe even better than you do. And since many professionals don’t actively look for jobs, recruiters may be able to entice them to change roles if they know what you’re looking for. Insperity
If you’re ready to hire, take time to do it right, otherwise you risk hiring the wrong person (a costly mistake). Outline what you want in an employee, as well as what his responsibilities will include, then carefully craft the job description. Get your interview panel together, including people who will work directly with the person you hire, and interview as many qualified candidates as you have. You’ll be working with this employee for the foreseeable future, so give gravity enough to the decision making process. Online Jobs Information
Posting a job in the newspaper is so passé. Social media’s where it’s at these days. Facebook, LinkedIn and Twitter are proving to be more affordable recruiting tools than traditional methods, and can help employers target in on exactly who they’re looking for skillwise. Twitter provides employers a tool to list job openings that its followers can share with others, while Facebook helps recruit passive applicants, who might not otherwise apply for a given job. LinkedIn tends to be more professional in nature, though its users tend to skew 40+. Talent Management
Mistakes to Avoid
As an employer, you risk bumbling the hiring process right from the interview. Beware asking questions that don’t really help you understand a candidate’s skill level and work ethic, and don’t do all the talking. And while sure, there are less exciting components to working for you (like those 12 hour work weekends), don’t downplay them to try to win over the candidate. Be candid about the good and the bad, and you’ll be more likely to hire the right person…and keep her. US News Money
The last thing you want when starting a business is to violate employment laws. Bone up on what you’re responsible for, such as paying minimum wage or greater, paying for overtime, and not deferring wages, otherwise you could face hefty fines or worse. Make sure your agreements are airtight, and that, if you use a noncompete agreement, it’s enforceable. Computerworld
The Government’s Role
Will President Obama help the job situation? We’ll see next week when he announces his plan to increase employment in the US. He will likely extend a one-year payroll cut on taxes for workers and unemployment benefits, and many speculate that he hopes to create more jobs through public works. While Obama’s plan may not be quite as dramatic as his 2009 stimulus, here’s to hoping it does create more jobs now.
Hiring Employees for Small Business
View full post on Small Business News, Tips, Advice – Small Business Trends
CHART OF THE WEEK: Modest Gain in Microbusiness Hiring Plans
Mar 21st
In February 2011, more microbusiness owners were planning to hire than were planning to lay people off. The Discover Card Small Business Watch, a monthly survey of owners of businesses with 1 to 5 employees, found that 3% more business owners were planning to hire than to cut staff when asked about their employment plans last month.
Whether this proves to be a lasting trend or not remains an open question. Back in June 2010 four percent more microbusinesses were planning to add rather than drop employees, but the pattern then reversed itself for several months. In fact, the six month moving average of this measure –- the thin black line in the chart below –- has deteriorated after improving several times since the Great Recession began.
Microbusiness Hiring Plans (Aug 2006 to Feb 2011)
CHART OF THE WEEK: Modest Gain in Microbusiness Hiring Plans
View full post on Small Business News, Tips, Advice – Small Business Trends
5 Tips for Hiring Legal Counsel in Your Small Business
Dec 27th
Some readers know that I used to be a corporate attorney. As a General Counsel I have hired literally hundreds of outside law firms to represent the company I worked for. Trademarks; patents; litigation; transactions; collections — you name it, I’ve probably hired a law firm to handle it.
I’ve managed counsel in law firms ranging in size from solo practitioners, to the largest law firms in the world, such as Jones Day, Mayer Brown, and Squire Sanders & Dempsey, to name a few.
As a General Counsel a key responsibility of mine was to hire the outside counsel; oversee the matters for the company’s best interests; and most importantly, manage costs. And I can tell you that managing costs is something that can be done with simple steps. Many steps work just as well in a small business as in a large corporation.
Interestingly, the same steps that you use to manage costs also help you avoid many of the frustrations that clients often feel. Those frustrations include unpleasant surprises from fighting litigation for years only to be pressured to settle on the courthouse steps (when you could have done it much earlier and saved countless dollars and hours), to transactions that die a slow death from overlawyering, to misunderstandings between counsel and clients (often due to the client’s unrealistic expectations due to the failure to discuss expectations up front).
That’s why I was so interested in a new survey by Rocket Lawyer. Asked what poses the biggest risk to their businesses, one-quarter of small business owners said “legal issues.” But even though they’re worried, business owners aren’t turning to lawyers as often as they should. The reason? More than half of small business owners (51 percent) contend that legal help is too costly.
Failing to consult a lawyer is often penny-wise and pound-foolish. In fact, getting legal help is actually a smart way to save money for your business. A good lawyer can help you prevent costly problems later, spot loopholes in contracts and agreements that can cost you money, help you save on commercial leases and more.
Fortunately, it’s possible to use a lawyer without spending a fortune. Here are five steps to keeping your business’s legal costs down.
1. Understand how the lawyer bills you.
Some attorneys bill hourly, some by the day (per diem), and some on a monthly retainer. Attorneys may also charge flat fees for standard jobs like contract review. No matter what method your lawyer uses, ask questions to be sure you understand the details. For instance, if the attorney has assistants, are you billed for their work at the attorney’s rate? Also ask about extras — some lawyers will pass the cost of faxing and making copies on to the client, while others won’t.
2. Use time wisely.
Time is money for a lawyer, so when you meet with or talk to your attorney, plan ahead to keep the time as brief as possible. Make a list of questions so you don’t forget anything you need to ask; then focus on what you need to do.
3. Keep it simple.
The less work the attorney has to do, the less you’ll get billed for. Provide the lawyer with documents he or she will need to review before the meeting. Have your information in order. Send one detailed email rather than 17 short ones with question after question. Like any businessperson, lawyers appreciate it when you make their job simpler.
4. Review your legal bills.
If you’ve got a complex project with an attorney, ask for an itemized bill. Go over it in detail to make sure you weren’t overcharged and that you understand what you’re being billed for.
5. Be proactive.
Some entrepreneurs are scared to talk to their lawyers for fear of incurring a fee … so they let small problems spin out of control. Make it a point to communicate with your attorney briefly every month or so and bring up any issues of concern. This way, you can nip problems in the bud and take advantage of opportunities for growth when they arise.
Editor’s Note: This article was previously published at OPENForum.com under the title: “5 Ways to Keep Your Legal Costs Under Control.” It is republished here with permission.
5 Tips for Hiring Legal Counsel in Your Small Business
View full post on Small Business News, Tips, Advice – Small Business Trends
Hiring an SEO Firm: Top 3 Questions to Ask
Dec 27th
For nearly every business venture on the modern web, having the power of an SEO firm on one’s side can mean the difference between a slow and difficult start and a successful launch. While there are many other elements necessary for a strong web presence, Search Engine Optimization can instantly improve a company’s visibility and prominence among competitors. Of course, this optimization must be performed correctly and creatively for truly impressive results.
With so many SEO firms from which to choose, it can be difficult to find the right source of optimization. By asking the following questions to potential consultants, companies can narrow their searches and ensure they work with an SEO firm that lives up to expectations and delivers as desired.
1) What is the SEO firm’s level of expertise?
Within the overall scope of SEO, there are many tactics and techniques used to help pages, sites, and other pieces of content reach the right audience –and pull in the right numbers. The specific techniques used by a SEO firm on a given campaign are bound to vary based on a company’s field, product or service offerings, size, location, and various other data points. Yet many strategies are fairly central to most types of SEO campaigns. Asking a SEO firm about the tactic they consider to be most important, or at least, most widely relevant, can help shed light on the SEO firm’s expertise, and will also give you a clearer idea of what to expect from your campaign.
Though there isn’t necessarily a single correct answer to this question, you should be able to get a good feel for the philosophy that drives the SEO firm. Inexperienced SEO firms will promise fast rankings and instant results. Experienced SEO firms understand that quality SEO takes time patience.
2) Is the SEO firm concerned about ranking your website fast or do they believe in a slow steady approach?
Another way to assess the expertise of an SEO firm is to ask whether ranking fast or ranking high is more important. Though some companies may genuinely desire a quick rise to the top of search engine rankings, some SEO firms employ “black hat” techniques to achieve speed without longevity. Many quality SEO professionals will relate that ranking is something that takes time, but which can prove extraordinarily valuable when done with diligence and integrity. Points of view on this rift in ranking are sure to vary from one firm to the next, but companies can typically count on stronger results from firms that embrace a slow and steady path to the top.
3) Will the SEO firm honor your brand?
A prospective SEO firm should be asked about their take on corporate image and branding to allow for a clear sense of the quality of impressions that will be made on potential customers. After all, being on top of the rankings won’t mean much if a company’s brand is absent or poorly handled. With a quality-focused SEO firm that’s open to answering these essential questions and sharing its views and principles, companies can supercharge their online presence painlessly.
Are you ready to launch a successful SEO campaign for your website? Contact our SEO firm today to start your campaign in January 2011.
View full post on .Com Marketing Blog | Internet Marketing Trends | Interactive Marketing
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