Align Yourself with the Right People - the Path to Being an Entrepreneur

Building an enterprise with sufficient capacity to fully capitalize upon an idea and compete in the marketplace is a key component to building wealth. One way to ensure that an organization has the capacity to compete in the business world is to hire the right people. While hiring smart, dedicated, and loyal people is a critical step in the right direction that alone is not enough. It is also important to develop a strategic plan for hiring employees. Initially, Washington, D.C. based real estate developer, Adrian Washington, hired his employees based on instinct. Early on, he looked to hire smart people who would work hard for his young company. As his business matured, however, Mr. Washington became more strategic in his hiring practices. He began to focus his hiring strategy by evaluating needs and identifying voids in his company. He then implemented a plan for identifying and attracting individuals who possess the requisite skills and qualifications to fill those needs and voids. In this regard, Mr. Washington developed a strategic, incremental plan for growing his enterprise. Having a plan for effectively utilizing the skills of those with whom you align yourself is just as important as identifying the individuals with whom you would like to work.

Mr. Washington stresses the importance of communicating to new hires the importance of their position and how it relates to the overall mission of the organization. As one noted business author, Michael Gerber, has suggested, "As an employer, you are going to have to create an environment in which 'doing it well' is more important to your people than not doing it." Having your employees buy into the vision and mission of your organization is key. The strength and capacity of your company depends on your employees’ dedication to its success.

As you continue seeking to align yourself with the right people, don’t forget these other key points. Remember always to surround yourself with the best and brightest minds you can find. Balance experienced veterans with young, hungry, smart, talented people. Give people enough autonomy and freedom to develop confidence in their ability to perform their job. Expect people to "know their stuff," and demand excellence without excuses. Create an environment in which hard work is rewarded. Allow employees to make mistakes, but fire people who fail to deliver results. Always lead by example, and make sure your employees see you working harder than them. Finally, make decisions quickly and definitively. Never allow issues to linger without resolution.