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Hiring your friends...

Discussion in 'BlackHat Lounge' started by ExpressFans, Jan 22, 2012.

  1. ExpressFans

    ExpressFans Jr. VIP Jr. VIP

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    I need your thoughts on this one BHW!

    Here's the deal: When hiring a friend (very close) how do you pay him?

    What I mean by this is that you can easily find cheap freelancers/assistants online that can help you with the errands. In my case instead of hiring someone online I asked one of my best friends to do the job since he's unemployed and really needs the extra cash, he also has the "basic knowledge" to do this right.

    The issue which I'm killing myself on is what to pay him! I mean I can easily get someone online to do this for $10-$20/day but seeing as he is my best friend and I will be making at least 10x-15x profit on this I don't know what to pay him.

    I know that the $10-$20 would be awesome for him, but I would feel very guilty!

    Any advice! The job is 3-4 hours and he can do it anytime he wants.

    Peace out!
     
  2. Winchester

    Winchester BANNED BANNED

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    Never hire friends or family, too many emotions get in the way. At the end of the day anyone you do business with you need to be able to say no to and fire without any negative feelings about it that you'll care about
     
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  3. Akkimik

    Akkimik Regular Member

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    Remember:

    There's no friends and families in Business.
     
  4. genosse

    genosse Junior Member

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    I agree with Winchester. +2 WinScore

    If you DO need to pay him, pay him what you feel is a fair wage, not what you COULD be paying for it.
     
  5. ExpressFans

    ExpressFans Jr. VIP Jr. VIP

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    Well the issue of hiring or not-hiring is settled since he accepted to do it and it was me who asked him. Hopefully I'll find something fair :(

    "Note to self: Don't hire any relatives or friends!"

    ttly
     
  6. nik-0

    nik-0 BANNED BANNED

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    Offer him minimum wage and explain him at the same time that you can hire outsources for less so he can take it or leave it, sounds a bit harsh but business is hard.
     
  7. Kickflip

    Kickflip BANNED BANNED

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    Share the wealth. If he is your friend, and you will make 10-15X profit, why not give him $40-$50~ or so, just to help him out? What is more valuable to you, the friend or the profit? I understand people saying "don't hire your friends or family", but I think that's quite unreasonable as a generalization, especially in a situation like this.

    The only concern that I ever have when hiring friends or family is when they are much less qualified then someone else, and I ONLY hire them because they are a friend/family. If you are certain they can do the job to your satisfaction, and you think they would really appreciate the money, give them as much as you can reasonably spare.

    A true friend will pay it back anyways in the long run, by picking up the bar tab, paying for a pizza, helping you move, doing a small favor for you for free in the future etc. Being unemployed, I am sure you will get it paid back several fold if you pay him as much as you can reasonable afford to pay.
     
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  8. nanavlad

    nanavlad Jr. VIP Jr. VIP

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    I totally agree with kickflip

    he doesnt need to know what you are earning from his work, at the same time pay him a fair wage, Then if it doesnt work out, It will not be your fault for taking advantage of him

    In the end, If you cant help your friends and family out, your not much of a friend

    I'm glad to see you hired him

    Hope it works out for the best
     
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  9. the_demon

    the_demon Jr. Executive VIP

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    I've hired friends before and I pay them fairly for the work done. That doesn't mean they make as much as I do, but I pay at least 25% more than minimum wage for unskilled stuff. (That's better than many of their jobs) If it's a particular skill I negotiate a fair rate. I find out what they are willing to work for and what I'm willing to pay. The important thing is to be diplomatic about the rates.

    I typically ask what their employer pays them and if I can I match or beat it by a bit.
     
  10. BassTrackerBoats

    BassTrackerBoats Moderator Staff Member Moderator Jr. VIP

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    I pay friend/family fair market value for the region in which they live.

    Fair market value for their region is acceptable and I always tip if they perform
    as I request.
     
  11. Cnotey

    Cnotey Power Member

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    I made the mistake of hiring my friends for my brick and mortar business once. We had a hell of a lot of fun. But I made no money at all. I actually lost money.

    I am still friends with them. But dont do it.

    Sent from my SCH-I500 using Tapatalk
     
  12. tnhomestead

    tnhomestead Regular Member

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    NEVER hire family or friends!!!
    That said, I would pay better than low ball. If I am going to help him out, hes not making what I will, but better than average is fair. Share the wealth and help him learn and get started if he wants! In the long run helping friends pays off!
    good luck!
     
  13. sienna

    sienna Junior Member

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    If you have good intentions to help your friend, consider a win-win situation. Pay him for the time and effort he spend in doing whatever task you assign him. Don't always assume that he'll just accept anything you feed him. If you can't treat your friend fairly, then find someone else.
     
  14. howard_hughes

    howard_hughes Elite Member

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    Business and Freinds don't Mix. Sorry thats a really bad idea.
     
  15. veheme

    veheme Elite Member

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    It really depends on the situation and who the friends are. As you have explained that he needs this job then good for you both.

    The rate you are giving him is fine since he is a starter. HE can work his way up and give him raises. That will be good motivational notions for him and he might shape up to be your best assistant + be your best friend.