When it comes to hiring there is one absolute rule. Maybe means No.
Adding the right person to your team is the most important investment decision most founders and CEOs will ever make.
Every SaaS investment is spent on 3 things
In a SaaS company all the investment money raised goes on 3 main things:
Hiring is make or break for a startup
These people will make or break your business.
No hiring decision is easy. In a startup there are so many roles to fill. So many gaps in the skills and experience of your team. Such intense pressure to show results to your investors. And even with the cash from a successful fundraise in the bank, capacity to hire and pay is so limited.
A confusion of choices and compromises
On the surface each hire is a black and white decision. Yes or No. Yet as soon as you start reviewing CVs, you will find that one person seems to present an array of choices:
Over time the process starts to feel like a series of compromises. Remember you are looking for a person. Can you work with them? Will it be fun? Would you trust them? These questions are much more important than any specifics.
It will never be easy. You need to be patient. Prepared to spend the time. The effort will be worth it in the long and short runs. Consult with other people. Listen to their views. Take up references.
In the end it is your decision. So try not to compromise. Only hire someone who is a definite yes.
Kenny Fraser is the Director of Sunstone Communication and a personal investor in startups.