“A startup that prematurely targets a growth goal often ends up making a nebulous product that some users sort of like and papering over this with ‘growth hacking’. That sort of works—at least, it will fool investors for awhile until they start digging into retention numbers—but eventually the music stops.”
“There’s an initial period of slow or no growth while the startup tries to figure out what it’s doing. As the startup figures out how to make something lots of people want and how to reach those people, there’s a period of rapid growth.”
“Leaky buckets don’t need more water, they need their holes fixed. It’s a rookie mistake to focus on customer acquisition instead of customer retention, especially early in a startup’s life.”
Continue reading “Should I hire a growth hacker/growth engineer?”
Fire people quickly when you make hiring mistakes. Don’t work with people you don’t have a good feeling about—this goes for employees (and cofounders), partners, investors, etc.
It’s very difficult to put precise numbers on this because the specifics of every situation matter so much. I’ve seen some startups offer 5 or 6 year vesting schedules. To compensate for this, they offer above-market grants. Another structure I’ve seen is back-weighted vesting. For example, 10% of the grant vests after the first year, and then 20%, 30%, 40% in the following years.
Granting equity should be easy to do. I have never seen a startup regret being generous with equity for their early employees. I’ve noticed that mission-oriented companies have a much easier time recruiting.
Spend more time on it. Get your hands dirty. Look for smart, effective people. Have people audition for roles instead of interviewing for them. Trust your gut. Hire people you like. Don’t compromise. Fire fast. Don’t hire. read more