"Do not hire a man who does your work for money, but him who does it for love of it."
- Henry David Thoreau
By Porter Stansberry
When I started my publishing business in 1999, I had one employee and no subscribers.
Today, seven years later, I have more than 150,000 subscribers and more than 60 employees. But if I had not hired the right dozen people between 1999 and 2003 - in the beginning - I would have never made it.
As a
publisher,my capital isn't tied up in machines, trucks, or even brand names.
Instead, I'm in the business of discovering important financial ideas and
selling them. I'm in the business of building relationships with my best
customers - and keeping them for years
and years. To do these jobs requires
exceptionally charismatic employees who are smart, cheerful, dedicated, and fun
to be around.
Good ideas come from good people. And good people draw
more talent to your business.
Surrounding yourself with the best people you can is one of the real secrets to success. Hiram taught me this lesson when I was only 14 ...
Hiram was an old junk merchant from the Bronx. He had a real warehouse store - not like a Costco or a Sam's Club. It was just a huge old building filled with merchandise from stores that had gone out of business.
My job at Hiram's was to unpack tons of crap from boxes, put a price tag on each item, and hang it up for sale ... every Saturday and Sunday from 8:00 a.m. to 5:00 p.m. It was not a fun way for a 14-year-old to spend his weekends.
How'd I end up at Hiram's? I broke a neighbor's sliding glass door while screwing around with one of my friends - a guy who is in jail today. My friend's parents simply paid for half the damage ... but my parents wanted me to experience the consequences of my actions. So I had to pay for the damage by working at Hiram's warehouse on the weekends.
Hiram paid in cash. On Sundays, after the store was closed, he'd pull up in his huge black Lincoln. It had dark black-tinted windows. I never did see more than half of his face. And he never got out of the car. He would slip a wad of $20 bills out the window. That's how Hiram met his payroll. It was like working for the mob.
On my last day of work, Hiram handed me the $80 or so I'd earned that weekend. I told him it was my last day and thanked him for the job. He looked up at me from behind the dark window and said, "Porter, you don't seem like the kinda kid who'd get into trouble. You should pick your friends more wisely."
I don't know why that advice has stuck with me. But it did. And it's absolutely right. I've picked my friends by finding people I wanted to be more like. People who had qualities and virtues I admired. It worked. Whenever I've succeeded in life, it has been because of my friends. My friends have taught me business skills, life skills, and, time after time, have put me in a position to succeed.
Hiring
new people, in many ways, is like picking friends. At least, I think it should
be. I tell my employees, "When you hire people to work in our company, you must
think to yourself: "Does this person have qualities and attributes that I wish I
had? Is this the kind of person who will lead me to broken doors and Hiram's
warehouse ...or the kind of
person who will show me ways to improve myself
and better my life?"
Let me share with you something I wrote to my key managers three years ago, as I stepped away from doing almost all the hiring myself. It's the 10 things I always kept in mind whenever I hired new people:
1. I like winners - folks who are relentlessly competitive. People who won't settle for losing are hard workers and can build businesses. (They're also fun to be around.)
2. I like thinkers. They're curious. They don't rely on cliches. They can divine the hidden architecture of how life works. You need these things to be a writer ... or an innovator.
3. I like people who are humble. Ideas don't last forever. Yours, too, will wilt.
4. I like people who don't have to ask for permission. They take chances and take responsibility.
5. I have never in my life tolerated bullies. And I won't in this business. If you can't treat your colleagues with genuine affection and respect, how will you treat our customers?
6. Words have real power. Say positive things and they will happen.
7. People are different. Our goals are the same. Never put our differences ahead of our goals.
8. Rarely is a greedy person satisfied. When it comes to money, be clear, be honest, and be firm.
9. Hire the hungry.
10. Never abandon a colleague, or a client, in a time of need. Greatness isn't measured by profits but by character.
One more thing ...
Most of the advice you'll get from business books about management and hiring strategies is complete bunk. But one truism is important: Hire slowly and fire quickly. Remember that most employees will put out their best efforts when they're first hired. If you're not impressed in the first six weeks, you'll never be impressed.