For start-ups looking at expanding and increasing business value, growth comes with the need for exceptional people to lead the way, and one of the biggest mistakes you can make at this stage is to hire the wrong people. In fact, the cost of a bad hire for a start-up company is estimated somewhere between 3-5 months of an employee’s salary, not counting the time wasted during the hiring process, or the opportunity cost of the growth and forward momentum you could have been gaining.
The first functional hires in a start-up, whether ‘‘head of’’ or any key hiring, are essential for establishing the company culture and setting the business in the direction of success. We have gathered our top tips for start-up founders who have just raised or are about to raise their first rounds of funding and are now faced with the challenge of building a winning team.
In our 'Guide for Start-ups in Southeast Asia: How to build a winning team' we offer best practice advice when approaching your first-time executive hires across the following functions: Product, Engineering, Growth (Strategy), Marketing, Commercial/Partnership, Design/UX/UI, Information Security, Finance, People/Talent and Legal.
For each function, the report explores:
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