Hiring rock stars

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Alex Muse is re-running some of the guest entries that Frank Demmler wrote.

On hiring, Frank says...

First-time entrepreneurs should anticipate that at least one out of four hires will not work out and will need to be separated from the company. When one takes voluntary departures into consideration, it would not be unreasonable to assume 50% turnover in each of the first two years.

He also points out that the people you will really want to hire won’t be interested in being hired.

They’ll have good jobs already or be looking to start their own businesses. After all, why would a rock star want to join your underfunded, unproven startup and hitch onto your dream? Why not launch their own dreams, or if they’re going to keep making money for someone else, do it in the more stable and secure environment of the company they’re already working for.

Wendy
December 22, 2007 1:32 PM

This idealogy makes alot of sense because Rock Stars are so finicky anyway but if they are truely a Star then they will be a CEO of there own company not an employee at someones elses company.

Liu Leren
January 25, 2008 4:58 PM

it is always hard to get the best, but you have to turn it around. The good players should have any notion of being preferred by you; they should be treated like they are missing an opportunity that is best for them. They need you! It should be the other way around. You have to find out what they want (find their weak spot) and then make them dependant of you. regards Liu Leren

lynne
March 14, 2008 2:14 PM

Exactly, I think that you hit it perfectly. Get them depending on you and have opportunities rolling in. I think that would have the perfect set up this way.

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