Nobody knows your business better than you do, oh scrappy, bootstrapping entrepreneur. After all, you've built it from the ground up, wearing the "CEO" hat one minute and the "janitor" hat the next, if need be. But before you put on the "head of human resources" hat, let's consider a few things.

Building a team is a complex task, and it will affect the core of your business. Yes, every task that you perform for your business is important. But getting this one right is absolutely critical. So be sure to ask yourself these five questions as you navigate the hiring process. They'll help you grow your team the right way.

1. Is it the right time for a new hire?

When you add a new member to your team, you're adding management and administrative burdens too. These might outweigh the benefits that a new hire would bring to your business.

Ask yourself: will this new hire free you up and optimize your time once the learning curve has been overcome? If the answer is "yes," and your current business growth supports the cost of the employee, then it's probably the right move.

2. Is a full-time position justified?

When you hire a full-time employee, you're not just addressing the needs of a few months out of the year. You're making a serious commitment to a growth track with potential for development, and you shouldn't make it lightly.

Ask yourself if an independent contractor or other freelance professional could address your needs as well as a full-time employee. If the answer is "yes," then a new, permanent hire may not be your best bet.

3. Am I trusting my gut, or am I trusting the data?

Almost anyone can interview well, but that doesn't mean the candidate who just aced one with you was the right person for the job. At the same time, the candidate whose interview left something to be desired may be highly qualified and a natural fit.

This is why you have to trust the data more than you trust your gut. So before the candidate reaches the interview stage, make sure you have plenty of information about him or her. It will tell you a lot more than a nice smile and a firm handshake.

4. Okay, I'm gathering data. But is it the right data?

Every company has a unique culture, and if your new hire doesn't fit into it, you're going to have problems. So have key questions ready that can help you determine if the person really belongs at your company.

I always get the best insight by starting interviews off-resume and having candidates tell me about themselves personally. Nothing too personal, just personal enough to learn things about them that you can't learn by asking where they see themselves in five years. It also puts them at ease, which never hurts.

5. Is there any reason not to hire this person?

At LexION Capital, the hiring process has quality control checkpoints all along the way. The resume and cover letter have been reviewed, they've taken a Kiersey work temperament survey, they've had a phone screening and they're not a social acquaintance.

If they pass these checkpoints without setting off any red flags, then the candidate has a green light to interview. That process provides a chance to dig deeper and find reasons why this hire would not be right for us.