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Hire Slow, Fire Fast - Property Entreprenuer

We’ve heard this before but it’s probably one of the last things that we actually execute in practice.

When recruiting, we feel panicked and rush to find somebody. This ends in compromising and getting someone who may not quite fit but may remain in the business for some time.

I learned it’s better to have a gap in the business for a short period of time and wait for the right person rather than rush the process. You could be committed to that decision for a long time.

Equivalently, where a team member is not delivering to the highest performance level, this also presents a similar challenge.

A players are easy. You invest in them, develop them, give them enough runway to develop and in turn they and the business grow on a similar trajectory.

The C players are easy. They are either incompetent in their role or not the right culture fit and the decision to exit them from the business is very straight forward.

The challenge is the B players in your business. They just about do the job to an acceptable standard or they’re a great culture fit but perhaps just can’t pull the trigger.

It’s not until the B players actually leave the business and you re-recruit for their role that you realise you should have made the difficult decision several months previous.

It’s an easy trap to fall into as an entrepreneur, leader, employer and business owner, yet it’s one of the highest value lessons we can learn.

When we need somebody in our business, hire slow, recruit right and do it once.

When something is not absolutely perfect in the business, address it quickly, be proactive and make those difficult decisions today in the interest of getting the best results tomorrow.

Join me and 5,000+ others in The Property Entrepreneurs Community on Facebook where I’ll be sharing more detail around this.

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