In this episode, Matt Watson and Greg Schmedding discuss the challenges and considerations of making key hires in a growing company. They explore the importance of timing and having a solid foundation before bringing in key hires. They also emphasize the need for entrepreneurs to delegate and trust their hires, as well as the importance of surrounding oneself with people who are better than them in specific areas. The conversation highlights the role of continuous improvement and making small adjustments to drive momentum and achieve success.
In this conversation, Matt Watson and Gregg Schmedding discuss the importance of key hires and the qualities to look for in potential candidates. They emphasize the need for hiring someone with a playbook and a clear philosophy on the business. They also discuss the challenges of hiring in early-stage companies and the importance of recognizing potential in underutilized employees. The conversation highlights the role of referrals and personal networks in hiring and the importance of a chief operating officer as a sounding board. They also touch on the rule of 90 and the significance of creating process, vocabulary, and culture. The conversation concludes with key takeaways on understanding one's strengths and delegating, as well as focusing on the root, not just the fruit.
Takeaways
Timing and foundation are crucial when making key hires in a growing company.
Entrepreneurs need to delegate and trust their hires to drive growth and success.
Surrounding oneself with people who are better than them in specific areas is essential for building a strong team.
Continuous improvement and making small adjustments can lead to significant momentum and success. Hire someone with a playbook and a clear philosophy on the business.
Recognize potential in underutilized employees and make bets on promising candidates.
Utilize referrals and personal networks in the hiring process.
Create process, vocabulary, and culture to drive success.
Chapters
The Problem of Making Key Hires - 03:03
Delegating and Trusting Key Hires - 06:20
The Challenge of Delegating for Entrepreneurs - 09:57
Surrounding Yourself with People Better Than You - 12:22
Timing and Foundation for Key Hires - 14:29
The Importance of Continuous Improvement - 21:04
The Importance of Key Hires - 21:19
Hiring Someone with a Playbook - 22:02
Recognizing Greatness in Potential Hires - 23:08
Making Bets on Promising Candidates - 24:05
Balancing Budget Constraints with Hiring Needs - 25:32
Recognizing Potential in Underutilized Employees - 26:24
Referrals and Personal Network in Hiring- 27:00
Hiring Key Roles to Scale Up - 28:06
The Role of a Chief Operating Officer - 29:01
The Importance of a Sounding Board - 30:28
The Rule of 90 - 31:30
Creating Process, Vocabulary, and Culture - 32:28
Challenges of Offshore Operations - 35:48
Knowing Your Strengths and Delegating - 37:45
Key Takeaway: Understanding Your Skills and Delegating - 38:15
Key Takeaway: Focusing on the Root, Not Just the Fruit - 38:30
