Why recruit people smarter than you?
Today we’re going to talk about a subject that is as important as the fact of managing your business, the goal that we’re trying to achieve is to find tranquility by letting your personnel to handle the needs of your business growth without your intervention.
One thing that we already know is that the business is reliable as it is right now, and because of that reason we don’t want anyone to interfere in our decision-making-process, obviously we want to be the best, the more knowledgeable and we tend to avoid listening to younger people because what could they know, we have 40 years’ experience and they have less than a year, so why should we listen to them.
BUT, we are so wrong! If you think that way, don’t expect to be one of the 5% of businesses that last more than 5 years after they open, or part of the 10% that lasts more than 10 years after the ones that last more than 5 years. Life is alone a big learning curve and the people who fails to understand that fact won’t be able to do much in life, maybe just maintain her/his small pay jobs and change them every 3-5 years, and why? Because the famous terms “permanent employment” and “job security” are gone along with the industrial era.
Today you pay your own retirement.
Remember those days back in the industrial era where your company was somehow committed to take care of you after you retire and then you were able to live happily ever after. Today that’s wrong, it is completely the opposite, now you pay for your own retirement with a plan that someone came up with that states: every day of your working life you will be saving a small part of our salary and the company will donate 100% more to your retirement plan in United States called “401k”.
If you analyze this plan after you retire no one else will be paying for your monthly needs but yourself and you will do it with this money, but think about what could happen if you get sick and you need nursery 24/7 in your house that costs more than $50,000 a year, you really think that your retirement plan money will last for the time that you are still alive? I bet your answer is NO, and the reason I am so sure of that is because not even if you have the optimal life where you don’t get sick or if you don’t need some extra money for something that you were not expecting, still you wouldn’t be able to survive with that money, you have to look for other money solutions and guess what, you only know to be an employee or self-employed.
It is very important to have people as smart as you or more.
The importance of hire people smarter than you is because what you need is to be able to go away of your business for a week, a month or a year and still come back and find your business with better sales than before or better quality and services, in a nutshell to find your business going up without the need of your intervention. This process is the one that is going to make the difference between being self-employed or to be the owner of your business.
The way that you can convert from self-employed to owner of your business is to delegate responsibilities to better qualified people to take control of your company and control over your decision-making-process (remember that you will always be the owner) and once you have this people you have to be very creative and design a system that will let you break barriers with your business and expand it with franchise or just getting associates to build more businesses, that way you will find that at some point the money will be working for you instead of you working for the money.
I appreciate your feedback. Leave it in the comments.