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Table of Contents
Ten Building Blocks
to Success:
1. Starting a Business
2. Financing a business
3. Company Name
4. Office Equipment
5. Hiring
6. Business Insurance
7. Advertising
8. Efficiency
9. Pension Plans
10. Succession Plans
Checklist
for Success
More Useful Advice:
▪Life Insurance
▪Disability
Insurance
▪Medical
Insurance
▪Long
Term Care
▪Travel
Insurance
▪Dental
Insurance
▪Auto
Insurance
Resources
Helpful Links
Page 1
Helpful
Links Page 2
Helpful Links Page 3
Business
Opportunities:
Jobs, Jobs, Jobs
Home-Based
Business
Opportunities
Virtual Call Center
Job Opportunities
Dental Practices:
Buy, Sell, Valuation
Medical
Practices:
Buy, Sell, Valuation
Businesses
For Sale
Sales Leads
Gifts For Clients
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Step 5: Hiring (and Firing)
Now that you've established a new
business the subject of hiring must be addressed. This can be the most
important decision you make. You rely on employees for help running a
business: Sales, customer service, emotional support. They become a
second family. If
you treat them right they will go above and beyond to
help make your job easier and your business more successful. If you
don't follow these hiring steps then you might regret it if the employee
doesn't perform as you had expected.
(1) Locating new employees. Where do you look?
Place ads in local newspapers.
Call people you've met who you'd like to hire.
Craigslist has a wealth of information. Place ads here.
www.craigslist.com.
Speak to employment agencies who specialize in recruiting. (2)
The interview. Make it professional. When you talk to a prospective new
hire do the following:
Meet at a time when you're not going to be disturbed by the
phone.
Ask for references and check them out. Big mistake if you
don't!
If the new hire requires special skill (computer, trade
skill, typing) make them show you.
Ask them what salary they're looking for. It may be less than
you were planning to offer.
Ask for a copy of their drivers license if your employee will
be driving a company vehicle. Run it by your insurance carrier. If they
have a bad driving record and your insurance won't add them to the
policy then you might not want to hire them.
Pre-employment testing or pre-employment screening is an
excellent way to check on the candidate's abilities. An assessment test
or personality test might be beneficial as well.
If the position requires certain licenses or special
certifications then ask for proof that they have it.
Tell them you'll get back to them after you check references.
Do NOT skip this step. (3) Making a job offer.
Call the new hire to tell them you'd like to hire them. Ask
them to come in to do employment paperwork.
In many occupations a written and signed job offer is
required. (4) Tax Forms.
a) IRS Form W-4 is needed to withhold Federal Income
Tax. Download the form at:
http://www.irs.gov/pub/irs-pdf/fw4.pdf
b) The same form will be required for state income tax, if
applicable. Check with your state department of revenue services.
c) Immigration Form I-9 also called The Employment
Eligibility Form must be completed. Download this form at:
http://www.i9check.com/downloadi-9form.pdf (5)
Hiring subcontractors.
Ask for a copy of their Liability and Worker's Compensation
Policy. If you don't and they're hurt or hurt someone else then YOU'RE
RESPONSIBLE either personally or under your own insurance policies. I
cover insurance in Step #6. (6) Firing an employee.
You will no doubt find that the person you hired is no longer
working as well as you would like. The best way to handle this is in
person. Not over the phone, unless it can't be avoided. You might be
liable for unemployment payments to the former employer, unless you have
just cause. Document what you do and always have a witness with you. Move on to
Step #6:
Business Insurance.
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New
This week:
Jobs,
Jobs, Jobs
Virtual Call
Center Jobs
Dental Practices:
Buy, Sell, Valuation
Medical Practices:
Buy, Sell, Valuation
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