Oct
03

Entrepreneurial Planning Blog Topic 6

William Casey Asbill-Beck

ENT – 600: Entrepreneurial Planning

 

Blog Topic Six

 

Discuss hiring dilemmas (Chapter 8, The Founder’s Dilemmas).

 

Chapter 5 of The Founder’s Dilemmas discusses Role Dilemmas.  One role dilemma aspect examined in chapter 5 is the importance of titles and how to structure them.  With these title structures one has several strategies to consider.  Chapter 5 references Chapter 8, Hiring Dilemmas, when discussing role dilemmas and how various strategies will affect future dilemmas.

Chapter 8, the Right Hires at the Right Time, was a thought-provoking chapter for me.  Currently, the business endeavors I am involved in are very small start-ups who rely on family, friends, and members of our personal groups.  Even with the small growth of  my businesses, I can already see how additional employees and senior members from outside my personal groups could stimulate expansion.  In chapter 8, several examples of hiring decisions are examined along with pros and cons.  In startups, like mine, hiring people you know can come with benefits.  Friends will be loyal team player opposed to just being an employee.  A strong sense of ownership can be created.  Once a startup is ready to expand, staying within personal networks can help create a cultural fit versus casting a wide net can reach new talents.  As we compare the pros and cons of hiring within various networks, we can look back at chapter 4 about hiring friends and family.

Once the company is ready to “transition”, even if you have gone the route of hiring outside of your personal network, additional employees and the creation of new positions will be required.  As this transition happens, upgrading existing positions and re defining roles will be an important decision.  Deciding whom to hire in these new positions, and when, is crucial as making the wrong decision at a particular stage of startup can cause problems.  Backgrounds and experience should be considered when evaluating potential new employees and investors.

Ideally, one can make all the right decisions and nurture their startups through their transitional stages into a mature company or industry.  Once mature, a company may have investors and executive managers hired.  This brings us back around to Chapter 5.  Founders face the same dilemmas with firing decisions that they face with titles, cofounding, and role decisions, but with added responsibilities.  It is crucial for businesses to hire A-players, but also quickly and professionally deal with hiring the wrong person.  All this hiring goes on while constantly evaluating current employees to ensure what was a good hire, does not deteriorate over time.  Good thing How to Hire A Players helps explain how to find the top people for the team.

 

Discuss keeping top performers (Conclusion, How to Hire A-Players).

 

As we saw in Chapter 8 of the Founder’s Dilemmas, hiring the right people in order to grow your company to a preforming and mature state is key. So, once you have them, how do you keep the A-players hired.  Herrenkohl suggest an organizational strategy implementation to keep A-players.  This will help show positions, roles, and the successful future of the business.  Employees can then visualize how they might grow with the company.  After an organizational strategy is documented, putting the right people into the correct roles is the next step.  Invest more time with A-players so you can best understand their needs and build a relationship.  B-players will need your attention as well.  Providing coaching and direction while encouraging them to be self-sufficient can be a full time job.  With all the time and energy spent finding, coaching, training, and building positive relationships with any employee, it only makes sense to develop and efficient strategy to find, and keep, important members of your team.  Meeting employees’, especially the A-players, expectations of feeling taken care, importance, and empowerment will help create a positive work community and hold you hold on to A-players.

Comments

  1. I have learned so much about the importance of a quality management team through this course and in reading works by Noam Wasserman and Eric Herrenkohl. It seems that many businesses, especially smaller start-ups, do not take hiring/recruiting as serious as it should be. A venture’s management team can make or break the success of a business. In order for a business to grow, theres comes a point when a business must hire outside of its network as you state. To me, casting a wider net, yet still being particular with who is hired, is how I envision myself expanding while trying to maintain the culture (to some degree). However, for some businesses this isn’t the case. I know of a small business coffee shop on the Outer Banks that is perfectly content with not expanding, and the culture of the shop is top priority, rather than “casting a wider net”.

    Maria-Elena

Speak Your Mind

*