Lesson 23: Hiring The Next Big Thing
24 min.
The hiring process is a long and winding road. At any stage, a poor decision could result in a bad hire. Based on a survey CBInsights, bad hires ranked as the top 3 reasons why startups fail. Find out how you need to know beyond the cost-to-hire metrics.
Lesson 23.1
How To Select the Right Co-founder
A common challenge faced by every entrepreneur is that they don’t have the bandwidth, interest or skills to do everything that is required to build their startup. Find out the right way to find the perfect co-founder with complementary skills!
5 min.
Lesson Notes
1. Don’t let your anxiety drive your decision to recruit a co-founder
2. Friends made through business generally last longer as compared to the reverse
3. Be authentic and work with people whom you know for a long time
4. If you are not willing to split equity equally, you will face problems.
Someone needs to be the CEO. Clear commands is vital for the survival of company.
Lesson 23.2
When And How To Hire Your First Employees
You will be able to determine when would be the right time to start expanding your team. Find out which roles you should prioritize and which you should defer hiring.
14 min.
Lesson Notes
1. Do-It-Yourself first – Spend time more than money initially
You will be able to smell bullshit.
2. Revenue – every person needs to be able to generate revenue
3. Defer the roles (Automating non-revenue creating roles) – IT, HR Manager Recruiter
Lesson 23.3
How To Hire Top Startup Talent
How to avoid a bad hire? How can you find A-Players? In this video, you will learn 4 strategies for finding the best people to join your team so they can help you build your dream.
5 min.
Lesson Notes
– Do your research
– Use your advisors but first funnel the candidates based on core values
– Pay someone if you don’t have the experience
– Run a test project