This is a post by Jesse Pujji. Jessi a serial entrepreneur that lives in the US. He has:
- Bootstrapped to an 8-figure exist with his previous startup, Ampush
- Is currently building GatewayX, a venture studio that he plans to bootstrap to $1B+
- Executive Chairman & Founder of GrowthAssistant.com
- ex-McKinsey Consultant
Guest Author: Jesse Pujji
A hill I will die on: Great startup talent is BUILT not BOUGHT.
Look at the matrix for a second.I made it to share with all startup CEOs I coach.
The sad truth is that most early-stage companies can only attract “powerhouse but inexperienced” hires. The powerhouse experienced ones are too expensive or hard to recruit.
The reality for those folks is that your startup is unlikely an optimal “expected value” for them. Better EV for them is probably starting their own company or joining big tech/scaling growth stage and getting a much bigger package.
The most dangerous of course are the not powerhouse but experienced. They are great talkers but not doers.
So if you believe this matrix, what else does it mean?
It means while you can hire a powerhouse, they will require tons of training, development and coaching. I.e. you have to build them up to be that great hire and great talent.
Every company I’ve founded, the best people have always been “built” talent.
Interestingly even the medium-experienced folks who became great were super open to learning/feedback.
What are you doing to develop talent? How can you do more?
Focus on it. It’s really crucial.
