This is one of those oh-so-fascinating cases where just about every business owner or manager does the exact opposite of what he or she is supposed to do, even when they know they shouldn’t do it.

Whenever you are working with someone who takes your money on regular basis and who performs regular, needed functions in your business, such as:

• An employee (part time or full time)

• A regular vendor

• A subcontractor

• A virtual assistant

…then the rule hire slow, fire fast always applies.

When you hire a new person, do it very slowly, carefully, reluctantly. Check over everything. Double-check everything. Ask lots of very difficult questions. Try to make them screw up. Compare them to many other people (or entities) you’re considering. Go slow. If you make a mistake here, it will be extremely expensive for you.

When you need to fire someone, JUST DO IT. Don’t think, don’t fret, don’t try to be a nice guy, and don’t worry. JUST DO IT. I have talked before about the mountains of money businesses and business owners lose because they refuse to let certain people go who should have been let go a long time ago. It’s the number one thing most companies do wrong. Every hour you delay firing an employee, vendor, VA, or subcontractor that is screwing up your business, destroys more money and peace of mind. Fire fast.

Amazingly, just about everyone does the exact opposite of this. They hire fast and fire slow (or never). When they need to hire someone, they run through some interviews as fast as humanly possible and throw someone new into the company because dammit, we’re busy and we need to get back to work!

When they need to eliminate someone, they put their head in the sand and lie to themselves about how bad it is. No one likes to fire people, and no one likes to look for new people. Firing and hiring is a hassle. TOUGH. You need to do it anyway if you want to be successful in your business life.

Hire slow, fire fast.

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