1. Write a clear job description. I know you think thatâ€™s for a big companyâ€¦not really. Try this site : JobDescription
2. Be clear about the compensation and benefits including stock options if any.
3. Do your home work â€“ be fully prepared to interview. http://www.howtointerview.com/
4. Also, you need to be clear that you may have to interview at least 10 people before you make up your mind. Never hire in the first 2-3 candidates.
5. Make the candidate go through at least 3 rounds of interview.Â Make sure that you have one interview at least on a Friday or Saturday night. Will show the interest level of the candidate.
6. Get the reference check very carefully done. This is very much required if you are hiring a sales guy!!
7. Have the offer letter vetted by a good lawyer (this will save a lot of money and head aches if youÂ need to fire the guy). Have all the right clauses for firing being very clearly defined.
8. Give the candidate selected there options â€“ Salary / bonus and performance linked incentive. Add stock option to make it more effective. Always have no caps on incentive a colleague can make.
9. And always be happy if your team guys can make more incentive than you are making!!
10. Hire the best guy or just keep it openâ€¦…never fill it with a mediocre person.