164: Why You Need More Swiss Army Knives and Paratroopers on Your Startup Team, says Ryan Holmes of Hootsuite
What separates the companies that make millions of dollars from those that never make it? It's not the vision, or the product, or even the founder, it's the people. You can't build a successful business, let alone grow it, without having the right people by your side. It's a lesson that Ryan Holmes, CEO and founder of Hootsuite, is intimately familiar with. Today, Holmes finds himself at the helm of one of the fastest-growing companies around. Hootsuite is a mega-popular social media tool that boasts over 16 million customers and 5 million messages powered by its service every single day. As of 2013, Hootsuite has raised an impressive $165 million in funding from some of the biggest VC firms in the world and continued to dominate the social media landscape. In this episode, Holmes advises founders that when it comes to finding your first batch of employees, you're looking for the "Swiss Army knives" and "paratroopers" of the world. People who have the ability to take the smallest instruction and make their own way. It can be tempting to want to hire specialists in the early days, but as Holmes explains, they're more likely to hold your business back in the early days. Finding the right people is as much about timing as it is finding the right skillset. And according to Holmes, the number one reason Hootsuite managed to grow so fast is that he had the right people by his side from day one. In this episode you will learn: Why having first-mover advantage means nothing in the startup world What the number one focus of any startup should be in the early stages Building virality into your product. Why, and most importantly, how. Where to find and deploy the "shock troops" of your team Why you should actually stay away from Silicon Valley when looking for A-players & so much more!