In this episode of the Startup for Startup podcast, Amit Rappaport, co-founder and CEO of Compete, delves into the critical decision of hiring a company's first employees. He shares insights from his journey, emphasizing the need for strong business traction, ideally around 50 customers, before bringing on new team members. Amit advocates for focusing on a candidate's drive and personality rather than just their experience. He also supports being transparent about salary and equity, even if it means offering lower initial compensation.
Amit highlights the importance of establishing a solid company culture from the outset and recognizes the need to delegate tasks while still keeping a close eye on essential metrics. He warns about the risks posed by poor hires and stresses the significance of having a clear and well-defined hiring process.
