Girls That Startup: How to Hire as a Small Business

Podcast Summary

• Effective delegation and hiring can reduce overwhelm: Delegating tasks and hiring help can free up time for business owners to focus on their strengths, while tools like Sharesight can provide valuable insights for informed investment decisions.

  Effective delegation and hiring can significantly reduce stress and overwhelm in a business. As shared in the podcast, the speaker's experience of reaching out for advice from a successful entrepreneur led her to the realization that hiring people to take on workloads can allow business owners to focus on what they do best, while reducing feelings of being overwhelmed. This concept, while seemingly simple, can be a game-changer for entrepreneurs, especially those who are used to doing everything themselves. Moreover, the use of an investment tracking tool like Sharesight can also help business owners gain a comprehensive view of their financial performance, allowing them to make informed decisions and streamline tax reporting. For those interested in transforming their investment experience, Sharesight offers a special deal for new annual premium plan subscribers. Overall, the key takeaway is that delegation and investing in the right tools can lead to significant improvements in both personal and business growth.

• Realizing being a bottleneck and hiring can lead to growth: Hiring new employees can lead to a better ROI than trying to do everything alone and prevent growth by being a bottleneck.

  Recognizing and addressing being a bottleneck in your business by hiring new employees can lead to significant growth. The speaker shared her personal experience of being told to hire someone multiple times and finally realizing that she was preventing her company's expansion by trying to do everything herself. She emphasized that hiring can lead to a better return on investment than trying to do everything alone. Additionally, she mentioned that knowing when to hire can be challenging, especially for individuals who have a hard time delegating tasks. The speaker encouraged listeners to consider hiring as a way to open up the passage for growth in their companies. She shared that her first hire for her business was an amazing experience, leading to significant growth and success.

• The importance of considering existing relationships when hiring a co-founder or team member: Considering existing relationships can lead to a natural and successful partnership, allowing the founder to focus on more valuable tasks.

  Finding the right co-founder or team member can be a challenging process, but it's worth taking the time to consider who you already have a strong connection with. The speaker in this discussion went through various options, from strangers to industry professionals, to friends, before realizing that her best friend was the best fit for her podcast. This decision not only led to a natural and successful partnership but also allowed her to focus on more valuable tasks as a founder. It's essential to recognize the value of the people in your life and the potential they bring to your projects. In the speaker's case, hiring her best friend not only made the hiring process easier but also brought a new level of ease and productivity to her work. It's crucial to delegate tasks and trust others with the administrative work to free up time for more significant responsibilities.

• The value of effective delegation: Hiring a dedicated professional for administrative tasks can save time, reduce stress, and improve overall productivity for entrepreneurs.

  Effective delegation can save time and resources for entrepreneurs. The speaker shared an experience where handling administrative tasks for a business talk caused unnecessary stress and expense. He realized the value of hiring a dedicated professional to handle such tasks, allowing him to focus on creating high-quality content and growing his business. This incident marked his first formal hire, and he put great effort into creating a clear and concise job description to ensure a good fit for the role. By recognizing and addressing weaknesses, the entrepreneur was able to build a team that complemented his strengths and improved overall productivity.

• Effective delegation: Identify, estimate, and describe tasks for potential hires: Clearly define responsibilities, hours, and compensation in a job description for effective delegation. Utilize technology to simplify operations and save time, reducing stress and increasing revenue.

  Effective delegation involves identifying tasks that require assistance, estimating the time required, and creating a detailed job description. This approach can help business owners test the waters with potential hires through temporary roles, such as a Christmas casual virtual assistant, before committing to a full-time position. The speaker in this conversation emphasized the importance of being clear about responsibilities, hours, and compensation in a job description. Additionally, the use of technology, such as contactless payments through tap to pay on iPhone and Stripe, can simplify and streamline business operations, allowing for increased revenue, expanded reach, and enhanced customer experience. By delegating tasks and utilizing efficient tools, business owners can save time, reduce stress, and focus on growing their business.

• Hiring an Executive Assistant: Finding a Versatile and Detail-Oriented Assistant: To hire an effective executive assistant, assess their skills in detail orientation, proactivity, and good email etiquette. Use a cover letter to evaluate communication skills and consider using a skill-based test for evaluation.

  When hiring an executive assistant, it's essential to find someone who is a good generalist and enjoys handling various day-to-day tasks. This role requires a lot of attention to detail and organization, which not everyone enjoys. When considering outsourcing the hiring process, it's crucial to learn the skills yourself first to understand what to expect. During the application process, it's important to look for specific skills such as detail orientation, proactivity, and good email etiquette. A cover letter is a helpful tool to assess a candidate's communication skills and their level of interest in the position. When sifting through applications, it's essential to be detail-oriented and look for red flags such as spelling mistakes, formatting issues, and inconsistent work history. Using a skill-based test, like Toggl Higher, can also be an effective way to evaluate candidates' abilities. Overall, hiring an executive assistant requires careful consideration and attention to detail. By following these steps, you can increase your chances of finding a qualified and effective assistant to help you manage your day-to-day tasks.

• Skills-based assessments for hiring: Skills-based assessments help eliminate biases and focus on abilities. They include multiple-choice questions and provide objective evaluations. Thoughtful interview questions assess adaptability, resilience, and eagerness to learn new skills.

  Using skills-based assessments for hiring can help eliminate biases and focus on an applicant's abilities rather than their history or CV. The assessment process, which includes multiple-choice questions, allows for rating candidates based on their correct answers and provides a more objective evaluation. Additionally, asking interview questions that assess a candidate's adaptability, resilience, and eagerness to learn new skills can help identify those who will thrive in a startup environment where resourcefulness and initiative are essential. The speaker's own experiences demonstrate the value of being resourceful and willing to try new things, even if it means learning on the job. Overall, implementing skills-based assessments and thoughtful interview questions can lead to a more effective and diverse hiring process.

• Hiring versatile team members during early stages: Ask potential hires about their preferences and motivations during the hiring process to build a versatile team and ensure a good fit.

  During the early stages of a business, it's essential to hire versatile team members instead of specialists. These generalists can help with various tasks while the business grows and later on, specialists can be brought in. Another crucial aspect is understanding how potential hires prefer to be managed and what motivates them. Asking questions about their current job, what they like and dislike, and their goals for the new role can provide valuable insights. A standout answer from a candidate who expressed a desire to make the CEO's life easier was a strong indicator of a good fit. Effective communication, considering the candidate's preferences, is also essential for a successful working relationship. Overall, the hiring process requires careful consideration and attention to detail.

• Preparing for a new hire: Selective job postings, detailed onboarding, and clear contracts: Selectively post clear job requirements, create detailed onboarding materials, and outline responsibilities, time estimates, and metrics in contracts to ensure a successful hiring process

  Hiring a new team member involves careful planning and clear communication. When posting a job opening on LinkedIn, it's important to be selective and clear about the requirements, including location. Creating a detailed Google Doc handbook with tasks, emojis, color coordination, and Loom videos for visual learners can help ensure a smooth onboarding process. For contracts, using free templates from government websites and clearly outlining job responsibilities, time estimates, and key metrics can prevent misunderstandings. A funny but important reminder is to double-check that all perks and benefits are included in the contract for the new hire's understanding. Overall, a well-prepared and transparent hiring process sets both the employer and employee up for success.

• Hiring the right team for business growth: Be clear on hiring needs, trust instincts, network, seek advice, and invest in hiring for long-term success.

  Hiring the right team can significantly improve productivity and business growth. The speaker, Sim, shared her personal experience of being part of a company, GTI, from an employee perspective and how she was impressed by the positive impact of hiring talented individuals. She emphasized the importance of being clear on what you're looking for when hiring and trusting your instincts. The speaker also highlighted the importance of networking and seeking advice from others. While hiring can be a daunting task, there is no one-size-fits-all approach, and it's essential to learn from others' experiences to create a hiring process that suits your unique needs. Ultimately, investing time and resources in hiring the right people can lead to long-term success for your business.