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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.
Yes, wow! That's so accurate! "established people are really good at seeming better than they are"
Depends on your market. You’re correct for B2C. In B2B (especially Fortune 500 B’s), people buy from relationships established over years/decades. You have to hire people from that pool to even get a shot at selling.
I am reminded here of the 1999 playbook which said hire someone from Purina because we are losing money buying $25 bags of dog food and selling them online for $20. “If we only had that person’s book of business we could make it up in volume!”
Making a good hire gives a startup a chance. A bad hire, if not quickly fixed, can be fatal. This holds true for both experienced & inexperienced hires.
I hired someone very ‘established’ last year. Felt I should’ve hired him 3-4yrs earlier Establishing structure is not easy to do for someone (founders) who has never seen structure before
Hiring someone on their way up not someone on their way out. Results from execution depends on the market state. An expert in your market as it was 5y ago will give you the comfort of "he has done it all" but never the results of a hungry young buck
A lot of experts are still very hungry though. And they know what they are hungry for and how to best achieve it based on their baggage. The current technology field is so vast it has room for improvement no matter how seasoned you are.
Same for hiring from Ivy Leagues
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