As an experienced VC tasked with growing Ohio’s entrepreneurial ecosystem, OIF’s Managing Director Bill Baumel works in the trenches with bold, disruptive founders of startup companies. Along the way, he has answered questions spanning from the earliest stages of startup ideas to late stage exit strategies during board meetings. Now, our partners are sharing their tips with budding entrepreneurs and established CEOs alike.
Q: When should I expand my team? How do I recruit high-talent executives?
A: Startups should always be thinking one step ahead. What resources and leadership will you need to reach the next milestone in development and sales?
This will ensure that when the time comes, you’ll be prepared to recruit. If you’re preemptively networking and connecting with top talent executives and VCs. you may even already have some excellent candidates circling the waters! Remember that LinkedIn can be great resource for recruiting, but some key positions may require bringing in a recruiter with proven success to be competitive in finding the perfect fit.
When looking to expand, don’t neglect your early or founding team members. If there are performance issues, address them immediately. There isn’t room for dead weight at a startup company–it just kills progress and morale. Keep in mind that you may need to hire management over individuals who were top contributors early on.
And lastly, remember that high talent executives go to high talent opportunities. Your company must make great progress, show great promise, and get the word out to secure seasoned employees.