Being a solopreneur is great because, well, you get to call yourself a solopreneur, which is one of the coolest buzzwords to come out of the business world. But becoming an entrepreneur is something even more special. It’s proof things have taken off, that all your hard work has been a success and that your dream is fast becoming a reality.
You’ve got to the point where you need to hire full-time employees – that’s bloody amazing! That’s what the feeling is; it’s excitement and amazement and pride all fizzing about inside you like a well-shaken bottle of Pepsi. That and nerves.
You see, with your first hire comes a whole different game to play and a whole new set of rules to follow. So, before you start interviewing individuals and deciding on which people get to infiltrate your exclusive walls, here are some things you need to carefully consider:
- Calculating the Cost
So many newbies think the cost of an employee means working out how much salary you’ll pay them, but this isn’t the case. You need to account for the 6.2% social security you have to pay them, you’ll need to get a quote for general liability insurance, the Medicare taxes involved, the sudden increase in utility bills, federal unemployment tax, training costs and all of that sort of stuff. Basically, the salary you pay is just a part of it. A big part, sure. But still just a part.
- A Lot of Legalities
The moment you go from solo worker to employer of people, you take on your fair share of obligations and responsibilities, and that means understanding what you can and cannot do. Our advice: don’t do this alone. Find a specialist that will make sure you are dancing on the right side of the law. From employment laws to employment contracts, minimum wage requirements to tax obligations, and even the rules about firing employees; there are a lot of things you need to know about.
- Top Talent Only
So many first-time employers think hiring the best talent out there is as simple as popping an advert on some job board. But this won’t get you very far. Actually, all it will get you is a lovely cue of underwhelming applicants, many of whom will just be blanket applying to every job in their area. In order to land the best applicants for your company, and separate the genuinely interested from the “chancers”, ask applicants to pop a code word into their cover letters somewhere at the top. That way you won’t waste your time.
- Know How To Interview
This is a skill. A real skill. One that will develop over time. For now, though, your best hope is to just avoid making the common interview mistakes that see people hire the wrong applicants. One of the core things to remember when hiring people is this: skills can be taught, personality cannot. As such, make sure you put a lot of emphasis on soft skills, compatible working styles and who they are as a person. You’ll find they are way more likely to be a good fit.