Conventional wisdom is that you should have up to 12 months of living expenses put away before you start your own business, although the figure depends on a few factors.More >>
Finding good employees is a perennial challenge for business owners. Traditional methods such as newspaper advertisements and referrals from current employees are sometimes sufficient, but if you have exhausted these conventional channels try these other avenues:
College and graduate school newsletters
Many schools provide job listings to alumnae in the form of a newsletter or an online job board. If you are looking for a specific type of graduate such as an MBA or a technical person, choosing the right schools can net you a targeted pool of candidates. Contact the alumnae office and ask for posting requirements. Often these ads are free.
Some trade groups include job postings in member communications. This is an inexpensive way to connect with people who understand your industry.
Aggressive entrepreneurs have been known to contact college professors to ask for the names of hotshot students who are soon to graduate. This is a labor-intensive means of finding good people, but it can lead you to some candidates with exemplary skills.
Many small business owners dismiss recruiters as too expensive. However, while recruiters do charge a percentage of the candidate's first year salary, the time they save you during the recruiting process can make them cost effective. Be sure to calculate time spent recruiting when you are determining the cost of hiring.
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