How much should I pay my new hire?

One of our readers sent in a great question: how much should a business pay a new hire?  If we pay too little then we risk losing the employee.  Too high and we spend too much.  So what’s a good approach?  In this video I talk about what to factor in so that we reach a sweet range where both owner and employee are satisfied that they’ve reached a reasonable deal.

P.s. Sorry about the reverb in the audio.  I’m really not sure what happened, but we did everything we could to improve it!