How to Attract & Retain the Right People.wav

Speakers: Willy & Jabbok Schlacks (Co-Founders & Co-CEOs of EquipmentShare)

Key Points

• A failure of many founders is chasing good resumes and executive experience. Generally, these experiences are not crucial to scaling a company from the early days. These are not the kind of experiences you need in the early days; what you need are builders. Always make sure everyone’s values are aligned and expectations are transparent. Watch out for people who are good talkers or are flashy in an interview. Dig deep into the details of what someone has done. There are many people who have only been at a level of watching and not actually doing.
• People who have experienced struggle in building companies and have been successful breaking through the struggle will duplicate that success at a faster pace with scaling startups. Hire folks who have been in the struggle and hire for your weaknesses. Hire less for skill and more for work ethic, values, passion, and vision. Make sure to hire folks who are bought into the vision and not just checking a box. Hiring new team members is not any different than looking for a Co-Founder. Find people who are problem solvers and innately curious about customers.
• Win top talent with equity and shy away from talent that chase salaries, unless it is a lifestyle need or problem. A smart person will understand the value of equity especially if you can sell the vision of the company. As a founder you want to bring on early team members not employees, meaning you want folks who are bought in to the vision of the company and are financially incentivized to view the outcome of the company personally.