Getting the Most Out of Interns

When Cary Catalano launched his marketing firm, Catalano Fenske & Associates, last year, it was clear that he and his partner would be quickly overwhelmed by the size of the to-do list.

In addition to crafting boffo proposals to land those first clients, someone had to set up the office, create filing and billing systems, and take care of the myriad tiny tasks that come with launching a new company. Unfortunately, the Fresno, Calif., entrepreneur had hit his budget limit for payroll. So Catalano went out and got himself a couple of employees who were happy to work for next to nothing. In other words, he hired a few interns.

For start-ups like Catalano Fenske, internships are almost too good to be true. A young, eager-to-please student less interested in cash than in school credit and some shiny new bullet points for the resume can be just the solution when you lack the money to hire.

But while interns may be a bargain, they're far from without cost -- and not only in terms of money. Finding, training, and managing an intern who will help your business grow takes time and effort. ...