One of the best ways to scale business for an Entrepreneur is for them to hire help. However, sometimes revenue may not be up to par to pay salaries for those you need to complete the work. To combat the money issue, a lot of Entrepreneurs hire people that work for cheaper salaries. Cheaper seems good as a short term solution, but in the long run, cheaper may cost you more in time, money, and reputation. Before deciding on who to hire, be sure to consider more than just the salary cost:
Before hiring someone, make sure to check the results of their work.Get as many references as possible, examples of work they have done, and any analysis that shows results. You cannot afford to take their word of past success without proof. Validate what they are telling you. Everyone does great work… until it is time to do great work. You don’t want to be caught out of hundreds or thousands of dollars, because you didn’t check their work to hire someone at a lower price.
Before hiring someone, make sure they can live up to the standards that you want.Be upfront and give them a description of exactly what the role is, how you expect them to fill the role, the results you want to receive, and when. Not establishing these standards ahead of time, may end with your company not making deadlines and receiving the wrong results that can lead in loss of clients and profit. Having someone that is low cost may not give you all the things you need to service your customers successfully. You may have to pay more for replacement help or get paid less to give discounts on work to not lose customers.
Know that going cheaper is not the always best way. By the time you pay three cheap options and not be satisfied with the work, you could have paid the extra dollars to get competent help. The goal is to grow your business and in order to that, you have to have competent employees and contractors. Do not let the cost deter you from getting who and what you know is the best for you to continue to grow.