Principle 5
Finding and Hiring the Right People
Determine that the thing shall be done and then we shall find a way.
—Abraham Lincoln
It's logical to want to attract winners to your team. In this chapter, I will help you develop the most logical, least risky compensation plan for your team. You will learn how to put this kind of compensation plan together: namely, a commission-only payout, meaning your teammates earn income only if they add revenue to your company's bottom line. Next, I will show you how and where to find this talent to help you build your empire. Finally, you will learn how and why Andrew Carnegie gave back to the people who helped him build his empire, and I will challenge you to do the same.
Commission Only
As a business owner, it is always challenging to stress and worry about making payroll every two weeks, so one way to combat that is only to hire people on a pay-for-performance plan. If you are in a service-related business or in retail, this plan will be very difficult. However, if you own your own business as a one-person show . . . look and hire people who can sell for you on a commission-only basis, and in doing so, pay them through a commission pay plan.
As a result of implementing this kind of pay plan, you don't have to babysit your employees, track their hours, or worry about whether they are actually working or playing on company time. Also by operating this way, you only attract the most determined, disciplined, and serious business partners to ...
