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If you're the CEO of a fast-growing startup, the mistake you'll make in the next year that you'll regret most will probably be a hiring mistake. Possibly hiring someone established, which you'll feel you should do now you're getting big, and which VCs will strongly encourage.
I'm not saying you should never hire anyone established. You'll probably have to eventually. But your need for them is not as urgent as you fear, or your VCs claim. And established people are really good at seeming better than they are.
Can you elaborate on that? What are the disadvantages of hiring an established person?
Chapter 5 of The Hard Thing About Hard Things does a good job of unpacking the problems.
The hiring stage shouldn’t be an activity wrapped in extra carefulness, unless you don’t have enough to ‘burn’. Hire quickly and Fire fast works perfectly to course correct the decision of hiring.
Even then, you can always promote someone internally.
Wouldn’t “hiring poorly” most probably be a large mistake for any company at any stage?
For a big company, the impact is much lesser compared to a one year old startup..
Amen
Trust your gut. It gives you better advice than those around you.
Yup, mine just told me I'm hungry. What should we eat?
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