How I Hire Employees For My Startup - Building a Billion $ Company - Episode 9

Summary

In this video, the founder of Stan shares the challenges and strategies involved in hiring the first employees for a startup. Key steps include sourcing great talent through personal networks and social media, vetting candidates based on core values and technical fit, and convincingly selling the company's vision to potential hires. The founder emphasizes the importance of persistence, thoughtful hiring processes, and genuine passion in attracting top talent. The video also features interviews with early hires, highlighting what motivated them to join the risky but exciting startup journey.

Takeaways

• 📈 Hiring is one of the hardest challenges when starting a company.
• 💼 Convincing someone to join a startup requires selling the vision and determining if they're a good fit.
• 🔍 Step 1 to hiring: Finding great talent through various methods like personal connections and online communities.
• 📱 Using social media and creative methods like viral videos can help attract talent.
• 🔗 LinkedIn is a key tool for reaching out to potential hires, especially from successful late-stage startups.
• 📝 Step 2 to hiring: Vetting candidates thoroughly to ensure they are a perfect fit and align with company values.
• 🎯 Defining core values and technical requirements helps streamline the vetting process.
• 🚀 Step 3 to hiring: Convincing great talent to join by selling the company's vision and potential.
• 🤝 Personal connections and mutual introductions are valuable in the hiring process.
• 🌟 Successful hires are often motivated by the opportunity to make an impact and take ownership in a startup.

Q & A

What is the primary challenge mentioned in the script for starting a company?

The primary challenge mentioned is hiring. It's difficult to convince people to join an early-stage idea and to determine if they are the right fit for the company.

What are the three key steps to hiring as outlined in the script?

The three key steps are: 1) Finding great talent, 2) Vetting great talent to determine if they are a good fit, and 3) Convincing great talent to join the company.

What is the 'friend method' mentioned for sourcing talent?

The 'friend method' involves asking smart friends or mentors for introductions to their smartest friends, vetting them to see if they are a good fit for the company.

How did the speaker initially scale their hiring process?

The speaker scaled their hiring process by posting about job opportunities on various online communities, joining Discord chats, and telling their story on social media.

What is the significance of posting job opportunities on engineering subreddits and Discord chats?

Posting on these platforms helps reach out to a community of engineers who might be interested in job opportunities, increasing the chances of finding the right talent.

What was the speaker's approach to using social media for hiring?

The speaker used social media by making a video standing around New York City with a cardboard sign saying they were hiring, telling their startup story to attract candidates.

What is the 'trid andry method' mentioned for sourcing talent?

The 'trid andry method' involves reaching out to employees of competitors on LinkedIn, specifically targeting late-stage startups where employees might be looking for their next early-stage opportunity.

What is the speaker's advice on targeting companies for talent sourcing?

The speaker advises targeting late-stage startups like DoorDash or Airbnb, as employees there might have already made their money and are looking for their next early-stage opportunity.

What are the three components of the interview process mentioned in the script?

The three components are: 1) Values fit, 2) Technical fit, and 3) Baking the candidate into the decision-making process through vetting their talent.

What is the importance of having a hiring rubric in the interview process?

A hiring rubric helps define the core values and qualities the company is looking for in a candidate, allowing for a more thoughtful and structured hiring process.

What was the reason Alyssa, the head of Creator success, decided to join Stan?

Alyssa decided to join Stan because she enjoyed talking with the founder, felt reassured by the founder's financial background, and connected with the mission and passion during the interview process.

What is the speaker's final advice on convincing candidates to join a startup?

The speaker advises focusing on the opportunity to make a significant impact and the excitement of building something from scratch, as opposed to the stability of a larger company.