There are two people in your life that can immediately tell you if a job candidate is a good hire. When both (or either one) doesn’t get a good vibe, it’s an important warning sign to heed. While some candidates fit the bill precisely on paper, but it’s what’s not on the resume that’s most telling. Trouble is, you might miss these cues. And, that’s where two key people in your life and business come into the picture. Resume versus Reality Paper credentials are indeed important. But, if his or her personality doesn’t gel, he or she just won’t work out. That’s not necessarily a bad thing because it means there are other qualities that you need to have in that position. Put another way, intangibles can’t be ignored. Even when there’s an impressive track record, that doesn’t seamlessly translate into the perfect fit. Hiring someone who doesn’t fit your company’s personality can be a very costly mistake. To avoid making that mistake, make sure to interview job candidates for cultural fit, as well as job qualifications. —Inc.com We’ve all heard the stories of Steve Jobs. A marketing genius. A man who could somehow see into the future. However, a very difficult person to work for and with. Although he built a huge company, he did so stepping on a lot of toes and hurting many people’s feelings. Of course, this is just an example. Yet, it does help to illustrate a point — someone can have a spectacular resume but isn’t a true team player. Best Ways to Size-Up a Potential New Hire So, how do you know if someone is a good fit for the position? Sure, read his or her resume. Ask some questions before and during an interview. Then, rely on two key people to read the tea leaves. Just who are these individuals? The answer is: your spouse and your right hand man. While the latter makes perfect sense, the former just might surprise you. (That is, unless your spouse works in the business with you.) But, for business owners who don’t work with their spouses, this could be a bit out of left field. However, it’s a great way to get a real feel for someone. After all, your spouse knows you just about as well as anyone could. She or he can glean things from another person you could easily miss on your own. And, that’s where your right hand person is also valuable. He or she will also be able to judge a potential hire in more ways than just on paper. So, get together for lunch and over dinner. And, do so separately (your spouse on one occasion and your right hand on another). Then, ask their impressions about the job candidate and listen carefully. You’ll probably learn a lot. Plus, you’ll get valuable feedback that can help you to make the right decision. What other suggestions do you have for sizing up a potential new hire? Please take a moment to share your thoughts and experiences by commenting! Interested in learning more about business? Then just visit Waters Business Consulting Group.

Economists Call It “Induced Demand,” Entrepreneurs Refer to It as a “Learning Curve” – But the Lesson is the Same Decades ago, California attempted to alleviate and lighten heavy traffic congestion on its highways by adding more lanes. Upon completing construction, the new thoroughfares opened, and, congestion significantly dissipated. Then, gradually, traffic became heavier and heavier. Eventually, the very problem the state tried to tackle returned, but there were more vehicles than before, and traffic moved even slower. The new travel lane additions didn’t solve the problem – they only made congestion worse. Economists call this phenomenon “induced demand.” This term is a fancy way to say it entices and causes more people to use something. The concept of induced demand, first proposed by economist Anthony Downs in his 1982 book “Stuck in Traffic,” suggests that increasing road capacity may not diminish traffic congestion due to the Triple Convergence Theory. This theory posits that new capacity attracts three types of travelers: those who change routes, those who adjust their travel times, and those who switch modes of transportation to driving. These shifts in behavior lead to increased usage of the new capacity, negating the intended benefits of reduced congestion. The lesson in the California road expansion project is simple – the state planned based on theory and had little to no quantifiable data that widening the highways would work. Although it seems perfectly logical to add additional lanes to lessen traffic congestion, the reaction by motorists wasn’t fully considered. And, it’s this very intention that can land entrepreneurs into considerable trouble. Why Entrepreneurs Should Carefully Experiment Before Fully Committing Growing a business can be a challenging process, and it’s easy to make mistakes that can cost time and money. So, you need to be prepared and understand a few things before you attempt to move forward. Now, here are some strategies entrepreneurs can use to avoid expensive or time-consuming mistakes when growing their businesses: Start with thorough market research. Before expanding, conduct detailed market research to understand your target audience, competitors, and industry trends. This will help you make informed decisions and avoid costly mistakes. Then, take the time to develop a solid business plan. Create a comprehensive business plan that outlines your growth strategy, target market, financial projections, and potential risks. This will help you stay focused and make better decisions. Next, learn to lean on your strengths and do the following: Focus on your core competencies. Stick to what you do best and avoid diversifying too quickly. Expanding into new markets or products can be risky and expensive. Invest in technology. Leverage technology to streamline operations, improve customer experience, and increase efficiency. This can help you scale your business without incurring significant costs. Build a strong team. Hire the right people and invest in their development. A strong team can help you avoid costly mistakes and drive growth. Remember, to succeed, you need to rely on others to help you accomplish your ultimate goals because you can’t do it all on your own. Monitor cash flow. Keep a close eye on your cash flow to ensure you have enough money to cover expenses and invest in growth. Try to avoid debt as much as possible. The less you owe, the more options you’ll have. Freeing up resources will do wonders when you experience leaner times. Be agile and adaptable. Be prepared to pivot your strategy if market conditions change or if you encounter unexpected challenges. Unfortunately, too many entrepreneurs become stubborn and refuse to make adjustments, typically leading to unpleasant results. Learn from mistakes. Use mistakes as learning opportunities and adjust your strategy accordingly. When you do this, you’ll build a healthy habit. One that will allow you to reevaluate situations and change direction to avoid bad results. Seek professional advice. Consult with experts, mentors, or advisors who can provide valuable insights and guidance. It’s highly advisable to speak with an experienced business consultant who can provide you with the right advice. And obviously, stay organized and focused. Keep track of your progress, set clear goals, and stay focused on your priorities. By following these strategies, entrepreneurs can avoid expensive or time-consuming mistakes and increase their chances of successfully growing their businesses. Want to Accomplish More? Do you want your company to grow faster and earn more while you spend more time with your family doing all the things you started your business to do? We can make that dream a reality. Give us 30 minutes and we will show you how to get your life back. Skeptical? Good! Put us to the test. You can call us for your free appointment at (602) 541-1760, or, if you prefer,