NUTS & BOLTS
TEAM BUILDING
Key to a Great Team HIRE SLOWLY AND FIRE QUICKLY.
by Engelo Rumora
hen you realize someone on your team is a bad fit or you otherwise need to cut ties with them, how do you do that? One word: Quickly! That conclusion is the result of a lot of heartache I have en- dured—but also have learned from—in hiring and firing over 20 people in the last few years. I’ve had contractors steal our money so they could buy meth. I’ve had others who stole our money to buy a boat, to buy a new car or to take their wife on a holiday. There also have been occasions when we provided themmoney to buy materials and then they turned around and used those materials on another job. Sad to say, but we also have had employees use company resourc- es for their own personal benefit, like one who took a deal that came through our phone system so he could rehab the property, sell it and make a profit for himself. And then there’s the guy I invested in by paying for his real estate license. How did that employee repay me? As soon as he got the real estate license, he left. W
IT’SWORTH REPEATING: HIRE SLOWLYAND FIRE QUICKLY So, a lot of heartache over the years has led me to the conclusion that you have to hire slowly and fire quickly. I’ll say it again: Hire slowly and fire quickly. All those experiences have led us to change our company’s hiring process. Now, it is a very, very, very longer-term procedure. But that is better than what could have been the alternative: throwing up my hands and giving up. Just because you’ve gotten burned in the past does not mean that you have to completely close yourself down. And I want to caution you very strongly to not let that happen. Even to this day, I still go into every relationship—whether it’s business or personal—exposing my vulnerabilities. I go into a relationship with an open heart and an open mind, knowing that I might get hurt or lose money. I’m guessing we’ve all had partnerships or been in relationships
120 | think realty magazine july :: august 2016
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