EP 64: The True Cost of a Bad Hire and How to Protect Your Business

In this episode of Properties to Profits, I’m diving into one of the toughest lessons I’ve learned as a business owner: the importance of a solid hiring process. Whether you’re running a small real estate business or managing a growing team, the people you hire can make or break your success. I share a personal story of a bad hire that cost me hundreds of thousands of dollars (and nearly my reputation), plus the critical changes I’ve made to avoid these mistakes in the future.

 

We’ll talk about how to properly vet candidates, the role of background checks, personality assessments, and even cognitive testing in hiring. I’ll also outline key steps for onboarding and ongoing employee check-ins to build a team that’s both trustworthy and effective. This is a must-listen for anyone hiring in real estate or any small business owner wanting to protect their company from costly mistakes.

 

Key Takeaways:

1. A Bad Hire Costs More Than You Think – A poor hiring decision can cost your business not just money, but also time, reputation, and client trust.

2. Build a Robust Hiring Process – Background checks, personality assessments, and structured onboarding can help you identify trustworthy and capable candidates.

3. Keep Checking In with Employees – Regular follow-ups during onboarding and beyond are essential for building accountability and ensuring long-term success.

 

Episode Highlights:

[0:00] - Introduction

[0:36] - Why hiring “anyone with a pulse” is a recipe for disaster.

[2:22] - A real-life hiring horror story that cost me big.

[3:45] - How one bad hire exploited my leads and damaged my reputation.

[5:02] - The hiring process I use now to vet candidates (and prevent fraud).

[6:11] - Tools and tests that ensure new hires align with your business.

[6:50] - The importance of onboarding and ongoing check-ins with employees.

[7:28] - Why a bad hire costs more than just their salary (100x in my case!).

 

Links & Resources:

•Predictive Index (personality and cognitive assessments)

•Interested in my hiring process? DM me on social media for details.

Thanks for listening to Properties to Profits! If you enjoyed this episode, please subscribe, share, and leave a review. Follow me on social media for more tips to build a thriving real estate business. Let’s keep turning properties into profits together!