Hello everyone. Today, we’re talking about hiring large teams at fledgling startups. We live in the World of remote work and that makes hiring a lot easier. Now startups can access comparably low cost, high quality talent from all over the World.
This is a huge opportunity but don’t take it as a sign that you should immediately run out and hire 16 people, before you have customers. That’s a bad idea.
Hiring and managing that many people is tough work but it’s almost impossible to do properly if you’re still working on the basics of the company — like launching your MVP, getting your first customer or signing your first contract.
A good rule of thumb is to: try to stay under 5 people, regardless of their individual cost, until you’re generating at least $100K Annual recurring revenue.
