This is something you can do from day one, even if you can’t pay as much as you would like.

I have done things like buying a pool table for everyone to use, take the team out on various occasions (we recently went mountain biking on a work  day just for fun) or go out for dinner at a nice restaurant. Bonuses are another way to show appreciation at certain milestones or special occasions.

Even without any of the above, simple things like saying thanks, using smiley faces in Skype communication, and the best of all, public  acknowledgement of achievements in front of the whole team (or through group e-mail)—will all go a long way to building the self esteem of individuals  and your team.

Anyone who has their own business will tell you, finding the right people is the hardest part. There are plenty of people who can ‘do the job’—but not all  will do it well, or with the correct attitude.

Plenty of business books have been written on finding the right people to get on the bus. Not nearly enough has been written on keeping them there.

The cost of the right people in the right place is one of the best investments you can ever make. The cost of the wrong people in the wrong place is an  expense that could easily break you if you’re not careful.