Kenneth G. Ortiz said, “Be wary of the company you keep for they are a reflection of who you are, or who you want to be.” While this is true in all aspects of life, it’s especially true for entrepreneurs. Starting a business can be lonely, so it’s important to surround ourselves with the right people to help us succeed. Real estate expert, Mike Simmons shares his One Big Tip on how to choose the right people to be in your inner circle of influence.
Hire for Who They Are, Not What They’ve Done
For a business owner, choosing the right people to surround yourself with often starts with being careful about who you let on your team. When interviewing candidates for employees, partners, or clients, it can be easy to focus in on their track record, but Mike has a different approach. “There's more to hiring someone and based off of who they are than what they've done,” he says.
Just because someone has a great resume and seems like a “plug and play” asset to your company, their personality will dictate the effect they have on your team. Mike recounts instances where he focused on the candidate’s record, “I was so enamored with what they could do that I let them hang around too long, and the team starts not trusting you, when you keep a bad apple in the barrel too long, you start losing credibility.”
The reality is that, even if you have a team of freelancers and contractors, you need to consider your company’s culture when hiring. “Your company has a culture,” Mike says, “It's just how much are you controlling and driving that culture?”
Difficult Times Bring Out True Character
The other factor that Mike highlights is one that doesn’t often show its face, but when it does, it can be extremely valuable. He places emphasis on watching how people react during difficult situations. For example, the challenging times during the COVID-19 outbreak are a great litmus test for seeing the true nature of those around you.
“In a time like this,” Mike says, “we're challenged. People will reveal more of who they are than they will during good times. During good times, everyone's a good person. But when things kind of go sideways, you start seeing what people really are made of.”
Mike doesn’t discount the natural anxiety we all face in times like these, but it’s no excuse for letting your morals slip. “Being afraid at this time is fine,” he says, “but some people start doing things ethically and morally that they wouldn't try normally...When this is all over with, maybe kind of not surround yourself with those types of people.”
To find out more about how to surround yourself with the right people or to learn more about real estate investing, you can check out Mike’s book Level Jump: How I Grew My Business to Over $1 Million in Profits in 12 Months or visit his website at mikesimmons.com. You can also reach him personally at [email protected].