8 Tips for Aspiring Entrepreneurs

By Daniel Scocco

Browsing through my RSS reader I came across a interesting post from Neil Patel titled 8 Things I Wish I Knew When Starting My First Business. As you probably know Neil, despite being 24 or so, has already launched a myriad of successful online companies, so the guy knows what he is talking about.

Here is a quote from the article that I really liked:

There are four big mistakes I made when I hired people:

1. Just because someone did really well in their last job, it doesn’t mean they are going to do well in your company. For example, if they were a rock star sales person that worked for your competitor, it doesn’t mean they will be a rock star sales person for your company.

2. Hiring more employees is a lazy mans way of solving a problem. If you want to increase your sales, try to do it yourself before you hire someone. Yes in the long run you should hire employees if you want to grow your business, but if you don’t know what problems these employees will run in to, you will have a tough time managing them.

3. There are a lot more costs to an employee other than their salary. Office space, insurance, computers, and other expenses add up. The biggest of those expenses are probably management expenses to manage your employees.

4. Having virtual employees sounds great at first, but some people aren’t too efficient when they are virtual. If you have any virtual employees consider using efficiency tracking solutions like Rescue Time to see how your employees spend their time.

If you just started your business or are planning to start one, make sure to read this article.

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13 Responses to “8 Tips for Aspiring Entrepreneurs”

  • mark harrison

    I’ve just done the same thing. I have just hired 2 part time employees but only after I have proved to myself that my business model works. You have to do it yourself first before hiring someone as it gives you the knowledge that you can share with your staff in times of hardship.

  • Derrick

    True enough, not every employee is suitable or capable or even up to your standard when hiring!

    Is always best to run your business with best of your effort then you see the problem and able to solve the problem when your employee encounter those issues.

    Nice post, thanks

  • Adam Pieniazek

    Good mistakes to learn from. We’re currently looking into hiring interns as our first employees. It should be a good test to see if we’re ready for full employees without investing too much into it.

  • iCan’t Internet

    I try to keep doing it all myself for as long as possible. I’d rather have someone taking over other tasks, that they can do better. And this way getting me more free time to work online and such.

  • Speakbindas

    Yes, I know of Neil Patel. He is the man! Nice tips. Thanks for sharing.

  • Greg

    I was actually hired as an “intern” at netspray.com when I started there and have since been hired on permanently. That gave them and me the chance to see if the partnership was going to work.

    Point #4 is important to keep in mind because most people don’t have the work ethic to keep them focused working virtually. It really is something that you have to work on and understand.

  • InternetHow

    #1 – However still that is the only reason people get employed on other companies. Because of their previous performances.

    #2 – Isn’t this discouraging team work? I don’t agree with this at all. Of course you will hire people to do different tasks. I am sure no one will hire anyone just to do their work.

    I think the whole 4 points underestimates the employees input that would help company to grow. Without employees you can not grow your business.

  • Daniel Scocco

    @InternetHow,

    Point #2 is about having a first hand experience on what you plan to hire for. If can’t hire a good salesperson unless you know what it takes to sell your product. You can’t hire a good programmer unless you know what your code should do. So on and so forth.

    You don’t agree with this?

    I see those points not about “not having employees,” but rather about how to hire efficiently.

  • Himanshu

    I am a big fan of Neil Patel. Indeed he’s a great inspiration for each of us. And every time I think of that guy it gives me complex that he has just turned 24.

    And definitely if you are aspiring to an entrepreneur, you can’t miss the wisdom he imparts in his blog.

    Thanks

  • Boerne Search

    This is so very true, too many times I see small companies/businesses jump out there with a crap load of employees, trucks, laptops and months if not weeks later one by one they disappear. My mom said when some one comes out with the big guns first they run out of ammo.

  • Herbal Care

    Good points you covered here. Thanks, this is helpfull.

  • Medyum

    I was actually hired as an “intern” at netspray.com when I started there and have since been hired on permanently. That gave them and me the chance to see if the partnership was going to work.

    Point #4 is important to keep in mind because most people don’t have the work ethic to keep them focused working virtually. It really is something that you have to work on and understand.

  • hikaye

    This is so very true, too many times I see small companies/businesses jump out there with a crap load of employees, trucks, laptops and months if not weeks later one by one they disappear. My mom said when some one comes out with the big guns first they run out of ammo.

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