More interviews with Sarah Calvert
Jim and Sarah continue a series on finding, interviewing, hiring, training, and managing employees. The discussion in this visit is about the importance of employee reviews, and how to conduct them. This may be one of the most neglected management fundamentals by small business owners, so give this Archive a listen.
Sarah and Jim talk about how to find employees, how to interview them, how to hire them, and how to keep the good ones. They also talk about the use of, and wording in non-compete clauses. How to use them, and how to defend them
Sarah and Jim talk about the issues surrounding purchasing and/or selling a small business, emphasizing that this process is different for every transaction, and is very much different from buying real estate.
Sarah and Jim talk about the importance of recognizing the difference in the various roles an owner plays in his or her business. For example, you may be all, one, or any combination of the following: owner, employee, shareholder, board member, officer, etc., and you must understand this, and operate accordingly. Also, what happens to your business if you die or become otherwise unavailable, and how to develop a back-up plan.
Sarah and Jim talk about why it's important to use a professional to review and advise you about contracts, agreements, and business relationships, especially significant ones.