6.The ability to keep developing new products to retain and build a customer base. Consider gradual product development based on improvements to current product line and sold to current customer base.

7.Deal-making skills to work with resource suppliers to keep costs low. Keeping costs lower than competitors’ and continuing to look for cost reductions even when business is profitable is key.

8.The maturity to treat employees, suppliers and partners fairly and respectfully. Trust and respect result in productivity increases in ways that may be difficult to see and quantify.

9.Superior location and/or promotion creating a connection between your product and where it can be obtained. Studies have shown it can take seeing your product or name seven times before a customer is ready to buy.

10.A steady source of business during both good economic times and downturns. Over long term, develop a product mix that will include winners during good economic times and other winners when times are tough.

3. Arrange a peer group interview. This part of process encourages applicants to speak more freely and helps determine how comfortable they will be in working with their peers. Follow up with a meeting of everyone involved in hiring decision to determine if there is a group consensus about applicant’s suitability for work at your company.

4. Do a background check. Don’t neglect this, even if it is an employee’s cousin or your competitor’s best salesperson. It’s very easy to set up an account with an investigative firm online and to relatively quickly and inexpensively find out if applicant has a criminal record or a history of DMV problems, lawsuits involving previous employers, workers’ compensation claims, and so forth.

5. Do a reference check. You can conduct these over phone, but they may involve a request in writing. Reference checking is less effective than it used to be, although you may still find a few people who are willing to talk. Most former employers play it safe and verify only dates of employment and salary.

Document that you took all of these steps and you’ve gone a long way toward protecting yourself against a charge or negligent hiring. And more importantly, you’ve taken first steps toward finding an employee who can trust and with whom you can establish a successful employment relationship.