Years ago, I remember a startup CEO telling me, half joking, that his hiring criteria was, "Anything that breathes." That's not exactly a sound strategy to grow you startup, is it?
I think what the CEO meant was that it's tough to hire really good people when you're starting out. The reality is it's always tough to hire really good people.
The obvious part of your hiring criteria is hiring really smart people that fit your culture. But there's a bonus step you can take to supercharge your startup's growth for years to come. I'll explain what that bonus step is in this short video.
Read the video transcript below:
So why is promoting from within the best strategy? Let me start with a story from my past. So years ago I worked at a company called Maxim and the company was really well run.
And one of the things that I learned from working there was that most of the people were like me. They were very young and they didn't have a lot of experience. But there was a lot of young, smart, motivated people in the company. And what the CEO did was he put these people in management positions and he let them grow with the company. And what happened was magically these people became the senior managers and the senior leadership of the company as the company grew.
Now about 10 years into my time at Maxim, the CEO made a change. He started hiring people from the outside. People that had lots of experience, lots of knowledge.
And you know what happened with all of these people? You guessed it, they all failed. Every single one of them was a failure.
And the company to this day has never truly really recovered from that. And I believe that was part of the reason why I was the company had this wonderful culture that was strong, that was consistent across the company and was really well thought out.
But when you bring in outsiders, rather than having insiders who have grown with the company, Iwho can grow with you and can learn and understand the culture and repeat the culture, as time goes on, you lose something.
And that's what happened with Maxim. Don't let it happen to you. Learn from the experience that I went through.
Hire people that have the potential to grow with you as you're starting to build out your team, as your company starts growing. Hire people that have this ability to grow with you and can grow with the company because these people are going to be the senior leaders of your company as time goes on.
The more you hire from the outside, the more risk there is. I'm Brett at www.brettjfox.com have a great, great day.