Hire People that Offset your Weaknesses with Their Strengths!
In this post, we are going to tackle one of the single biggest pieces of bad advice that’s given to new business owners and founders.
It’s probably one of the most frequent things that gets them into trouble. Which is “Hire people that are good at your weaknesses.”
Now, what do I mean by “Hire people that are good at your weaknesses?”
You’re probably thinking… “I’ve heard this before, everyone gives me this advice,” it’s straightforward.
Unfortunately, it’s not quite that simple. What tends to happen is, people get impressed by resumes and they hire people that look amazing on paper (great at your weaknesses) but remember I said this was “incomplete advice?’
Someone who looks great on paper is a good start, but the missing piece of advice is…
Finding someone who also has experience in your position and has moved companies to your desired destination.
For example, if you are a bootstrapped startup with 4 employees doing $250,000 per year, with a plan to grow to $1,000,000 per year… find someone who has done “exactly that!”
In that scenario, it is pointless hiring someone that has worked at VC backed companies or established businesses, because they likely do not have the skill set to deliver what you need. That means wasted money and time. Two things smaller/growing companies, cannot afford to waste.
Right Staff for the Moment
Finally, do not give away tons of equity, just because someone looks good on paper or has the “right” experience. Your business is always going to need the “right” staff for the moment.
If we use our example from earlier… lets assume that your new hire gets you from $250,000 to $1,000,000 and everything is going great.
Getting from $1 million to $10 million, is likely going to need new people in your Heads of Sales, Marketing and Operations roles.
The reason? Skill sets and interests.
Different people have different interests and different skill sets that make them better at certain stages of the “business growth” journey. Giving away large amounts of equity to anybody at this early stage, is going to limit your flexibility in the future and put the brakes on growth in no time.
Hire people who are strong where you are weak, with experience and success in the position you are in.