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Friday, May 24, 2013

What Is One Piece Of Advice You Would Give First-Time Entrepreneurs? 05-26


What Is One Piece Of Advice You Would Give First-Time Entrepreneurs?



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Mira Zaslove, Sales and Strategy Consultant
“A-Players Hire A-players, B-players Hire C-players.” -  Steve Jobs
Surround yourself with the best talent you can, the top people you can find. They are worth the cost. Do everything you can to hire, retain, and motivate  them.
Find partners who are experts in an area you aren’t, who possess the talents that you are lacking. As a first-time entrepreneur, your idea is going to change. The monetization strategy may pivot, consumer adoption may stall, and things could get dire. You will need a solid group around you to successfully build your idea and execute.
Why is hiring A players critical?
  • Like attracts like. A top notch database designer is going to bring in a top notch web designer, who will attract the top sales and marketing team. A-players are attracted to working with a talented team that can execute. They will set the culture of excellence at your company early on. You want the A-players leading and setting the tone.
  • They aren’t threatened by people who know more than them. Instead, they want to work with people smarter than them. They are quick to admit what they don’t know, and learn from those who can teach them. They are working for long term growth, not short term ego boosts.
  • They aren’t afraid of sunk costs. As your idea, strategy, and goals change you are going to incur sunk costs. It is better to cut bait quickly and move on. Always make the best decision now. A-players are less prone to being swayed by decisions, time, or money they’ve already lost.
You become like the people you surround yourself with, so set yourself up for success early on. In the Company of Giants, Rama Dev Jager and Rafael Ortiz spoke to Steve Jobs about starting a company. He told them, “When you’re in a startup, the first 10 people will determine whether the company succeeds or not.” Steve Jobs’s Tips for Hiring Your A-Team