Let me tell you a tale of two startups.
The first hires a sizable team of junior- to mid-level employees as soon as there’s enough money in the bank. While this feels like exciting progress, the founders end up stressed about the financial overhead they’ve created—and overwhelmed by the needs of their employees, which ultimately make them unable to spend much time on the business itself.
The second startup stays lean for as long as possible—just the two co-founders working hard on the product for the better part of two years. When they finally are able to hire, they have the financial stability to bring in top-level employees who can take their company leaps and bounds forward.
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Originally published on Quartz : Original article
The right time to hire at a startup is probably later than you think
Let me tell you a tale of two startups.
The first hires a sizable team of junior- to mid-level employees as soon as there’s enough money in the bank. While this feels like exciting progress, the founders end up stressed about the financial overhead they’ve created—and overwhelmed by the needs of their employees, which ultimately make them unable to spend much time on the business itself.
The second startup stays lean for as long as possible—just the two co-founders working hard on the product for the better part of two years. When they finally are able to hire, they have the financial stability to bring in top-level employees who can take their company leaps and bounds forward.
Read the rest of this story on qz.com. Become a member to get unlimited access to Quartz’s journalism.