Should you “build” or “buy” talent? It is the ultimate dilemma for entrepreneurs. Business owners don’t have time to train newbies (build), and they can’t afford to hire experience (buy). So what do they often do? They hire mid-level people with average talents; obtaining average results.
The accounting and legal professions have perfected the “build” model. Every year they hire interns that turn into direct hires. They train and mentor the heck out of them; thus always having a pipeline of future talented managers!
This topic was discussed at a recent CEO Focus entrepreneur roundtable. After years of trial and error, most of the business owners in attendance prefer to hire untrained “A” quality people and groom them “their way.”
Consider hiring interns! Internships are a great way to evaluate young professionals before making a firm commitment to hire! Lindsay Manfredi, Intern Coordinator at Slingshot, speaks further on this in a recent blog.