Your Next Best Hire
Knowing who you need to hire is one of the most difficult parts of being a CEO, no matter what stage of growth you’re at.
It’s also one of the most important things.
Today, Chris explains exactly how to determine the next person you need to hire to grow your company to the next level.
You’ll hear important things to keep in mind, like whether each new hire should be an employee and whether systems are more important than people.
He also shares how to build a process org chart step-by-step and how to use it to find the next A player in your business.
Tune in, do this one hour exercise, and never make a poor hiring decision again.
Time spent developing leaders has possibly been the most lucrative time that I’ve ever spent in any business.
In this Episode:
- Does everyone in your company need to be an employee if you want to see major growth?
- Why the people in your company are even more important than your systems
- How to make a process org chart, step by step
- How to finalize the roles you need to fill within your company
- The one question you need to ask yourself about your process org chart that will show you who you need to hire next
Find out exactly what aspect of your company is the current weak link that, if fixed, will help you scale faster and more successfully.
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One of the hardest parts of growing a business, no matter what size you’re at right now or how many employees you have or don’t have, is knowing who your next best hire is. What’s the one position that, if it was filled with an A player, would get your business to the next level?
The biggest difference between a company that struggles and one that consistently scales is their ability to create a team. That could be a team of employees or vendors or independent contractors. It doesn’t matter, but you need to be able to develop leaders and a team in your company.
There’s one company in Club 28 that was doing about $5 million when I met them less than 14 months ago. They’ll probably close this year around 35 million and the only employee in that company is the owner. Everyone else is either a vendor or an independent contractor. I’m not saying that that’s the best model, but it certainly proves that you can build leaders out of almost anyone who has leadership qualities in them. Whether they’re an employee or a vendor or an independent contractor.
The Most Lucrative Time Spent in Any Business
In fact, time spent developing leaders has possibly been the most lucrative time that I’ve ever spent in any business. Which is why I could go into practically any company and scale it two to five X its growth curve with one good person. Even if they’re running crappy systems.
What you cannot do is grow a company with great systems and crappy people. And there’s two parts of this. Number one is knowing who your next best hire is. Then finding them and hiring them and motivating them to be a driver in your company. Now, if you need help finding great people, watch the video that I shot titled How to Find and Attract and Hire Great Employees. That episode details every aspect of how we put together teams of A players who love working with us and who drive our growth in every company in my portfolio.
How Do You Know Who Your Next Best Hire Is?
But how do you know who your next best hire is? For that, we use a process org chart. This is simply an org chart that’s built not for where you are today and not for where you want to be five years down the road. Because in my opinion, both of those are useless for growing a company. They’re usually more damaging than helpful. But rather build a process org chart for the team you need in place to get you to where you want to be in eight to 12 months.
You’ll have a lot of boxes on your org chart. And you’ll be on top and then everybody who reports underneath you will be right underneath there. Everybody who reports to them will be underneath that line. But after you do that, what you’ll have are just a lot of boxes with maybe job titles written in them, but no names yet.
The Next Step In Finding Your Next Best Hire
Now the next step is add bullet points in each one of those boxes. And those bullet points should detail the most important tasks. The most important tasks that need to be accomplished by that person in that box. So let’s just say your project manager box might have bullet points in it. Like, develop the big idea, organize project tasks, assemble the team, manage the project budget, lead the team, hold the team accountable, and develop and deliver daily reports. So that might be your project manager box.
Then after you do that for all your boxes, look at all the boxes and decide if certain boxes are just too overwhelming. Because there may be some that need to be split into two boxes or some boxes. Maybe you only have two in this one and three in this one. Some are similar that you need to combine the boxes. Now you’ll be able to see all this and you’ll be clear on what tasks each person needs to accomplish to grow your company to the next level. That alone is going to make your business more functional and more organized.
Free Up Your Time to Grow Your Company Faster
In turn you’ll be able to grow faster and more predictably. Then after you do that, you put names in each box. My guess is that when you get to this point, some names including yours will probably show up in a whole lot more than just one box.
So you need to ask yourself, what box can I take my name out of that will free up my time to grow the company better and faster. But also ask yourself what box can I take my name out of that I can fill with somebody else who could do that job better or maybe bring relationships that can be a game changer for us.
Remember, those boxes don’t all need to be employees. They could be filled with vendors or independent contractors who fill vital roles inside your company. When you go through that exercise, which might take you all of maybe an hour to do, you’ll know exactly who your next best hire is and you won’t make poor hiring decisions ever again.
MEET CHRIS GUERRIERO
Chris is an entrepreneur, investor, bestselling author, and advisor to a handful of high growth companies.
He has built four 8-figure companies, developed winning leadership teams in six industries, and designed business systems that predictably grow multi-million dollar brands.
He’s been featured in financial periodicals such as: Success, Inc, Bloomberg TV, and in Entrepreneur as a top entrepreneurs of the time.
In addition to his own companies, Chris is also an advisor, investor and equity holder in companies across a variety of industries, including health, medical, digital advertising, legal and real estate.