MBA1599 How To Hire For Skills You Don’t Have

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Hey oh welcome to the 100 Arm. Great business advice delivered to you every single day with our daily 10 minute business lessons for the real world. I'm your host, your coach, your teacher Omar Zenholm. I'm also the co founder of the $100 MBA, a complete business training and community online over at100mba.net and in today's lesson you will learn how to hire for a skill that you don't have. It's impossible for you to be an expert at everything and as a business owner you don't have to be. Your job is to find great talent. A lot of people ask me how do I hire for positions I have no idea about whether it's a senior web developer, a data analyst, an accountant for that matter. In growing my company, Webinar Ninja, one of the fastest growing webinar softwares out there, Shameless plug. I had to hire a lot of people along the way for skills for positions I had no idea about. People that have a ton of experience, even more experience than my own. This is essential if you want to build a team of a players. But how do you do this? How do you hire the right talent? How do you find the right people, especially in positions you have no idea what is needed to be an A player. How do you Create a job description, seek out an interview, and find the talent in positions you have no credibility in. What do you ask? How do you know if they know the stuff they should know or they're just a good interviewer, that's what we discuss in today's episode. I have a surefire system that has helped me through the years that's going to help you find great talent in positions and skill areas that you are not familiar with, that you are not an expert in. So let's get into it. Let's get down to business. As the business owner, your job is to get the right pieces of the puzzle, the right players on your team to succeed in your mission, to succeed in your goal as a business. You can help find the right people in one perspective in terms of the culture, fit for the team, the right attitude, the right outlook, the potential for growth, all that kind of stuff. But when it comes to the actual technical knowledge and skills they need for a particular position, like I said at the top of the episode, this could be like a senior developer, a social media marketer, an accountant, a finance person, a salesperson. You may not be versed in every single skill and every single trade. So how do you hire the right person? How do you find this person and make sure you're getting the right talent? Many people will go down the recruiter route. They'll find a recruitment agency to find the talent for them. I personally haven't had really good luck in this area. Every time I've tried this, I really didn't get the best fit. So I've tried a different route and I've done this over the years. And now, because our team is large enough and we have the right managers in place, I don't need to do this because those people can find me the right talent. But when you're starting out, you need a way to vet people, to interview them and make sure you find the people that have the skills you need to pull off what you want. Enter the advisor. You need to hire somebody who is an advisor, and you can do this for every department. So you can literally try to hire for a position. This could be an hourly position or contract for a certain period of time. Could be seen as like a project to make a hire for you. This person's job is to understand your needs, to understand where your company's at, what you're looking to achieve, and help you find that talent. This person is not going to do the job. Their job is to find you great talent. They don't have any other Incentive other than to find you somebody brilliant. And by the way, this is not rare. You can find advisors in every department, a marketing advisor, a technical advisor, a financial advisor for business. Because there's a lot of top tier professionals that love helping businesses like yourself. They have high paying, high stakes jobs elsewhere, but they may have some free time on the weekend, in the evenings to work on some passion projects, to work with startups, to work with growing businesses and help them out. Now you might be saying, well, I'm gonna have to spend some money to make a hire, which will cost me money. And this kind of held me back, this thought, this mindset at the start when I wanted to start finding talent. But here's the bottom line. You can waste a lot of money by making the wrong hire, by paying somebody month in a month out, year in, year out, and they're just not the best, most efficient, best fit for the job. You're going to save money in the long run and maybe even in the short term and also save time and effort by getting somebody to help you in this process. This is the process. Let me explain to you what you're going to do with this advisor. So you're going to say, advisor, we're going to get on a call, I'm going to explain to you exactly what I'm looking for, what I'm looking to achieve, a little bit about the business, our history, where we're going, our vision, our mission, all that kind of stuff. This is literally a 30 minute call. And from that call they're going to be able to get a good understanding of what you actually need for this position, what kind of person, what kind of skillset. They know all the jargon, all the lingo, all the certifications they would need, all that kind of stuff. And the first step they're going to do is they're going to create a job description for you. They're going to ask you to fill in some blanks in the job description, maybe about the business culture or maybe some admin about hours or time off or benefits. They then can help you with that job description and post it where they believe will get the best candidates for that position. Every industry will have their own kind of sites to find great talent. So if I was gonna hire somebody to work remotely for me as a developer on my team, I would post on places like WeWork, remotely, Upwork, maybe large jobs if they're a Laravel developer. So every kind of niche has a good place to post. They're gonna recommend, hey, this is where you should post this job. You'll do it you, or you can do it yourself and just pay the fees from there. People are going to apply to the job with applications. They're going to send their CVs or resumes. This advisor is going to help you sift through these CVs, these applications to screen them, to make sure that, hey, these top candidates are worth our time for an interview. And what we did to save time and money and save the time of the advisor is we did a two step interview. Step one was one call with maybe the founders of the company and we just sat down to find if they're a good culture fit, if they're a good person to work with the team, if we just jive. Because if they don't fit the culture of the team, there's no reason to keep on going. If they do, then they move on to the next step of the interview, which is another interview with the advisor. The advisor is going to be asking technical questions about that position, finding out if they can really do the job that they're applying for. Now you can be on this interview. You may not want to be on this interview, up to you, but this interview is really there to grill them. And it can even have a live test component, a live demo component where they actually display their skills. We do this in a lot of our departments, whether it's customer service, where they're actually answering an example, support chat right on the call, or we're hiring for a new designer and the designer is going to critique a old design that we create and ask them to kind of give their tips and their, you know, advice on how they would improve that design. From there, the advisor then can say, hey, these are my recommendations. These are the people that pass. You choose who you want based on your cultural interview. This is a fantastic way to get an expert in your corner to make your first hires in every department. Once you start making some hires and you have some managers in each department, those managers can take over this role. But at the start, this is a goldmind of an idea. This advisor is very much in the know, in the marketplace. So they can also help you with knowing what to pay for this position if you need a junior or senior, and even help you out with KPIs and evaluation plans for those new hires. So when they're hired, you know, hey, this is how I'm going to evaluate them and what we're going to measure their evaluation or what success looks like on a regular basis. Now let me answer the question. That's in your head. You might be saying, well, what is this going to cost me to hire this advisor to help me make this hire? All in all, I found that this whole process takes something between 10 to 15 hours, from the initial call all the way to making the hire. Obviously this depends on how many interviews you're going to have, but you can keep the interviews pretty tight, 30 minutes, 45 minutes. So if we're gonna be generous, let's say 15 hours. Now, I believe you should hire an expert, somebody that's highly paid. This person is gonna save you time, save you headaches. Then trying to find somebody who's not so much of an expert is maybe, you know, kind of cheaper on the cost end, on the hourly rate. And a lot of us might want to go with that to save some money. But you're not gonna save money because it's gonna take them longer. They know what they're looking for. They know exactly how to find you the right person. So they're gonna be hovering around US$100 an hour. So you're looking at something between $1,000 and $1,500 for this process. Now I would tack on another $500 because you're gonna spend some money to post this job, post somewhere or on job sites. So you're looking at roughly $2,000 to make a great hire. I know that's something maybe we don't wanna pay when we're making a decision to hire somebody, but it's actually a pretty good price because if you went the recruiter router, a lot of recruiters ask for 10 to 20% of their annual pay. So if you're paying somebody, let's say $80,000 a year, that's 8 to $16,000 as a recruiter fee for each hire. Now what's brilliant about this, you might be making more than one hire at a time. And you'll save money by doing that when you hire an advisor.

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One of the hidden benefits of having an advisor help you find great talent is you can call upon them from time to time to help you with evaluations, to help you find another hire. And you're staying in touch with a really high caliber expert. You're on the radar and many times they're very interested in your progress. They've helped you grow, they've seen you grow over the years and they might be available down the line when they're looking for a transition, a new job, a new career to join your team as a senior manager, as somebody that can help you full time. So these advisors are fantastic. They're great relationships. They're great people to have on tap. They can come in and out and help you with questions. They can also, you know, help you in a jam if you need some extra help along the way. Thank you so much for listening to the 100 MBA show. If you love what you hear on the show, then you want to follow us over on Instagram, actually posting exclusive content on Instagram about the show, previews and clips of our upcoming episodes and past episodes. Go ahead and check us out and follow us over@instagram.com the 100 MBA Before I go, I want to leave you with this. One of the most important things every business owner needs to understand is you can't do everything. If you want to create something great, you're going to need a team. You're going to need other experts, other people to help you make it happen. Any company, anything actually that was created that's amazing. Whether it's the iPhone or the Great Pyramids was not done solo, wasn't done by one person. It takes a team. It's a very humbling type of thought, but it's also very empowering thought that you can call upon all these great experts and have them really fulfilling the mission you set out from day one. Thank you so much for listening. I'll check you in tomorrow's episode Q and A Wednesday where we answer a question from one of you, one of our listeners. We're going to be answering a question from George who asks, how do I make decisions faster? Takes me a bit too long, days, sometimes weeks to make important decisions. We get into that in tomorrow's episode, so check it out. Until then, take care.

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