Learn to Listen

This past week I was called to make a presentation to a small business that the owner felt was in “stagnation.” The purpose of the meeting was to see if I could help them get a “boost”. In addition to the owner he brought the company’s first employee who had been on the job 5 days.

I allowed 90 minutes for the presentation and spent some time in research and preparation. From our initial conversation I determined that the owner was well versed in the business and the service he was offering. His knowledge of business structure and planning was non-existent.

I outlined a business structure with emphasis on the marketing necessary to grow his business. I saw a lot of potential in an area that was not cluttered with competition and was very excited to make my presentation.

At the start of our meeting the new employee spent 10 minutes telling me his job history and why he no longer had a “job”. After listening, I had an opportunity to ask a question of the owner; the employee immediately took over and spoke, non-stop, for 25 minutes giving random answers to my questions.

With a short break in the conversation I again repeated my question with the additional comment that they need to listen to my question before giving me an answer. Again the new employee took control and for the next 30 minutes shared random ideas on how the business should go forth.  During this entire time, the owner kept nodding his head in agreement.

At the end of that conversation I said I had another meeting and thanked them for their time. The owner said I was really helpful and shared how pleased he was with his new employee and his knowledge.

With no plan going forward and with a new employee that wanted to prove his worth, I have concerns for their future growth. I don’t foresee the business failing, but I do not see growth or an increase in the bottom line.

The lesson here was that the owner hired the wrong person for his current needs. Without a “hiring plan” he hired the first person that he interviewed and was impressed by his background.  Unless you are an experienced HR person, a small business owner is not equipped to interview and select the “right” employee. My suggestion is to write down your expectations and the characteristics you want in a new employee. The following are several suggestions when hiring:

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Tips & Advice by Nick Petra, CFP – Founder of Strategic Duck and BizQuack