How to Hire Your First Full-Time Employee to Start Scaling Your Company with Dr. Elaine Stageberger

How to Hire Your First Full-Time Employee to Start Scaling Your Company with Dr. Elaine Stageberger

Welcome to Episode 244 of The Determined Mom Show. In this episode, we have the pleasure of hosting Dr. Elaine Berg, an expert in real estate investing and various other domains.

Today, Dr. Berg will share her insights on hiring your first full-time employee to begin scaling your company. Hiring employees is essential to business growth, and Dr. Berg’s expertise will guide us through the process.

From Psychiatrist to Real Estate Investor

Dr. Berg’s journey from being a psychiatrist to becoming a real estate investor may seem like an unexpected shift. However, her passion for real estate sparked when she and her husband rented out their previous home and saw the potential in generating passive income and increasing property value. This initial experience led them to invest in real estate and eventually build a substantial portfolio.

The Importance of Building a Team

Every entrepreneur dreams of reaching a point where they can hire employees to assist in business expansion. Dr. Berg emphasizes the significance of building a team, drawing from her medical background, where teamwork is fundamental.

Initially, the fear and uncertainty surrounding hiring can hinder progress. However, Dr. Berg encourages entrepreneurs to transition from a scarcity mindset to recognize that building a team is an investment in the company’s growth.

Quantifying the Value of Employees

Determining the value an employee brings to the company is essential. Dr. Berg suggests aiming for at least three times the employee’s all-in cost. While the initial stages might not immediately yield positive returns, a period of learning and onboarding is necessary for both the employee and the leader.

Over time, the employee’s familiarity with the business, unique experiences, and fresh perspectives contribute exponentially to the company’s success.

Finding Long-Term Employees

Dr. Berg’s company emphasizes fostering a culture that instills a sense of purpose and belonging among employees. Recognizing that individuals seek meaning and connection in their work, the company emphasizes transparency and open communication.

Weekly team meetings allow employees to anonymously share their energy levels, feelings of value, and connectedness. This feedback informs the leaders and helps create a supportive work environment.

Hiring your first full-time employee is a pivotal step toward scaling your company. Dr. Elaine Berg’s expertise in real estate investing and her experience building a successful team provide valuable insights for entrepreneurs. 

By viewing employee hiring as an investment rather than a cost, fostering a strong company culture, and quantifying employees’ value, you can set your business on a trajectory for growth and success. Building a team is integral to creating something greater than yourself and achieving your long-term business goals.