Owning a business is tricky. And it’s also amazing. Most people who have a small business or are entreprenuers know that working for yourself is 100% better than punching in and selling your life/time for a paycheck. When you work for yourself or run a business, you get your life back.
One of the hardest thing when you are a business owner is debatably hiring and firing. It’s hard to find good, competent, passionate people.
And let’s face it. The people you hire aren’t business minded. They aren’t entreprenuers. They want to clock in and have a gauranteed paycheck every two weeks. In Robert Kiyosaki’s, Rich Dad Poor Dad, their mindset is in the E quadrant. And security and stability is the number one priority.
Again. That’s wonderful as a business owner. You’re in the SB- small busines owner or B- big business 100+ employees and/or I -investor quadrant. This is where the risk is. We assume all the resopnsibility, liablilty and we go bankrupt if we fail.
With this key difference in perspective — our employees are valuble to operations of our business, large or small, and freelance alike. And we all can work ideally very well together. The majority of people are E- employees. Working the 9–5, asking for insurance, a stable hourly wage, a healthy work envorinment and somewhere where their talents and genius can shine.
As a business owner, how is it we have a hard time finding “good” people to hire?
Let’s look at some stat’s. According to The Small Business and Entreprenuer Council, there are roughly…
“48 percent of all US employees work for small businesses, down from 52 percent in the early 2000s. 18 percent of all US employees work for businesses with fewer than 20 employees. Small businesses accounted for over half of net job creation in 2014.”
And the U.S. Bureau of Labor and Statistics, shows that..
“Employment–population ratio, 59.7 percent; unemployment rate, 4.7 percent in May. In May 2016, there were 151 million employed people among the 253 million that made up the civilian noninstitutional population. The employment–population ratio was 59.7 percent.”
We see that 48% of our population work for small business and about 60% of our total population are employed.
Accourding to Fundera small busines owners make up 99.9% of all U.S. Business. and “There are 30.2 million small businesses in this country.”
That’s a lot of capital. 30 million of us own a business.How is it hard to find and keep employees? And what do you do when you need to FIRE someone?
You know these are the questions we have and the real problems we handle all the time. When it comes to hiring. We need to see where our employees are coming from. Are they E mindset or do they see the B and I side of our business?
And when it comes to hiring — how much time, effort and training do we invest in someone — if they just quite in a few weeks or if an unexpeted life event — like death, divorce or health issue comes up? And your star employee has to leave. Or if the people you are investing into and developing — are good and full of heart- but just not equipt with the capabailities or skillset to handle the job hired for?
These are tough situations. Especially as you develop a relationship with your employees.
As business owners, it comes down to leadership. How are you handling the growth of the business vs. your relatability, processses, and team development.
I speak on leadership because it takes a leader to make and execute the decisions that are uncomfortable. To have the conversations, you don’t want to have. And see potential of your employees and also when to see that no matter how much you invest in someone, see their growth, and put your heart into them — sometimes it’s not reciprocated.
Being able to take a step back. Re-evaluate and yes… fire someone. Could be one of the hardest things about being a business owner. It also could change the productivity, energy, and outcome of your business. It’s double edged sword and uncomfortable. Yet, as a leader, sometimes those are the decisions that need to be made.
Getting uncomfortable, is part of leadership.
This is where growth happens. Sub-conciously we keep people, employees, friends and even family — who are unhealthy, not coachable and un-reliable often because we grew up with that behavior.
It could even be a care-taker role. Where you may have had to care-take for a sick parent, sibling, or grandparent. And they start to manifest in our businesss. It’s subconsious. We recognise those people we grew up wit. We learned to love them in all their flaws. Accepting their behavior as reality. Because we love them. As we grow, we understand that it probably wasn’t okay to be around certain behaviors.
When we understand that key difference. We can seperate the behavior from the love we feel in our relationships- personal and business alike.
Growing up is similiar to growing as leader and business owner. Your abilty to hold a state emotionally, mentally, physically, spiritually and financialy … will depend largely on your development. And they is key to the manifestation of your business.
Our business is an extention of the creator, designer, writer, business owner, physician, drafter, law enforcer. etc. As the owner we make the rules — unfortunately all our baggage comes with.
It’s not un-loving to say, not right now. It’s part of setting boundaries. Business boundaries.And those boundaries actually allow YOU to grow as a leader and therefore create more compassion in your interpersonal relationships. And yes, even with our employees.
A leader must know when it’s time to let go of employee who we gained trust with, became friends with, and invested in. And a good leader, keeps the relationship and fosters friendship.
We all hate good-byes. And as hard as those decisions can be, they can also be the most liberating.Sometimes letting someone go, can be the best wake up call and gift they could have gotten. And also the best for your business. We simply grow into our leadership. Make tough decisions. And find clarity in the transition.
Remember letting go of someone is part of leadership.