Executing Your Goals and the Importance of Human Capital
It is mid January which means you have settled in on your Goals for 2014 and are reviewing them twice daily. By now, you should be getting great ideas when you least expect them. From experience, when engaged in non-work-related activities, the best ideas come to one’s mind. It is important to write these ideas down and develop them so when you get to the office you can place them on your to-do list. You will then be able to focus on how to implement the ideas or discuss them with your staff or peers to determine their viability. Unfortunately, not every great idea you will come up with will be relevant or successful idea to implement in attaining your goals. Nevertheless, keep track of these perils of thought and use the ones that are in line with the attainment of your goals.
You should have also identified your Business Funding Sources whether they are a combination of Debt and Equity, equity or debt. This foundation is essential so you can increase work schedules or contracts as the start dates begin without worry on how you will finance them or the Growth of Your Business.
What we haven’t discussed yet is how you Multiply Yourself to ensure that your execution tactic does not fail during this period of expansion. You will need a few key employees that have experience in your industry. Where do you find affordable talent in your industry with significant experience that can help multiply your time? There are scores of underemployed veterans and baby boomers. Because of the uneven economy many people are still looking for work. The first place to look is a Temp Agency that handles this type of job candidate.
Hiring a temp may seem a bit more expensive at first but what they allow you to do is try out the employee for a period of time. If you like their performance and fit in the culture of your organization you can hire the individual full-time for a small fee to the temp agency. You should have earned enough to cover the employee’s placement fee by the time you have to pay the fee for hiring them. The temp agency will also allow you to layoff the employee if the job comes to an end and you do not have work for the individual. This is a great way to incrementally add to your staff without creating long-term excessive overhead. If you select the correct temp agencies you will have a very well qualified group of candidates to select from.
It is important to surround yourself with the people you need to run your organization successfully. While Human Capital isn’t something you can show on your balance sheet, it is an extremely important asset to the long-term sustainability of your company.