Hiring Experienced and Smart Employees for Startups
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Hi Dear GoGlobers!??
Our rubric "the classic chicken and the egg debate" continues. And today we will talk about hiring experienced and smart employees for startups.
On the agenda we have such a question: Should early-stage companies prioritize hiring experienced and smart employees, even if they are notoriously difficult to attract?
On one hand, experienced and smart employees can bring a wealth of knowledge, expertise, and fresh perspectives to the table. Their seasoned insights can help steer a startup towards success, mitigate risks, and accelerate growth. They have the potential to offer valuable mentorship and act as catalysts for innovation within the team.
However, attracting such individuals can be quite the challenge for young companies. Established professionals with significant experience often gravitate towards stable job positions or well-known organizations. Startups may struggle to compete with more established firms when it comes to compensation packages, benefits, and job security.
So, should startups invest time and resources into attracting experienced and smart employees, or should they focus on nurturing and developing existing talent?
It's important to consider the long-term implications of this decision. While hiring experienced professionals may present initial hurdles, it can also be a strategic investment in the growth and sustainability of the company. Their expertise can help shape the company culture, foster a learning environment, and attract additional top talent down the line.
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Alternatively, nurturing and developing existing talent can cultivate a loyal and motivated workforce. With proper guidance, training, and mentorship, these individuals can rise to the occasion and become the future leaders of the company. By investing in their growth, startups can build a strong foundation for success while fostering a culture of continuous learning and improvement.
Ultimately, the answer to this chicken-egg question lies within the unique context and goals of each startup. There is no one-size-fits-all solution. It's crucial for founders and hiring managers to evaluate their company's specific needs, resources, and growth trajectory when making this decision.
So, dear LinkedIn community, what are your thoughts? Have you faced this dilemma before? How did you navigate it? Let's ignite a conversation and share our insights!
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Thank you for bringing this up, it is one of the most practical questions for any new team/new company. There is always a very steep learning curve for founders to keep growing their new business. At a certain point, it is just important to admit that no one can know everything and have all the skills needed to run a company.. and from a relatively early stage, hiring real experts/professionals will just be inevitable. So hiring them frees up more energy for a founder/founders.. otherwise the latter won't be able to keep their focus as sharp as needed for rapid growth - and have all the parts of the company being taken care of.
The Do-It-Yourself Accelerator, like ISO-9001, requires a mission statement. What do you want to do, who do you want to serve, and what is their benefit. If the mission statement does not inspire others, your chance of success is very poor. This is your foundation. Very few successful businesses continue on the initial path, but allow their potential beneficiaries to guide them in developing solutions. Advisors, like myself, can fill in technical knowledge and related market analysis, again teaching the founders how to do things themselves. Before mentoring startups, many of us fixed stuff for big companies with deep pockets to buy their way out of problems that would have doomed smaller companies. We learned what they don't teach in schools in this way. Here are two reports from our curriculum that I frequently share at GGW pitch events in the chat, because I hate to see so many good people failing in trying to help us: https://www.startups.com/library/expert-advice/why-do-startups-fail https://www.alexanderjarvis.com/before-they-were-famous-15-startup-pivot-to-fame In conclusion, in business, when a good person or team fails in trying to serve us, we ALL lose.
Trishneet Arora, Eli Schwartz, Stephanie Wong, John Xie, AJ Thomas ??