Three weeks after we made our first contract-to-hire job offer at GoodApril, we pulled the plug.
As a two-person startup, we recognize that making our next three hires will set the culture and trajectory of our company for years to come. Nevertheless, it’s hard to turn down qualified candidates who fill most, but not all, of your expectations – last week we made the hard choice to go back to the drawing board and find the right candidate, even at the cost of short-term productivity.
“Hire Slow, Fire Fast” is harder than it sounds
That old adage sure sounds great when presented in the abstract, but in the midst of the early entrepreneurial sprint, it’s much harder than you would expect.
Here’s our entrepreneurial reality: we are two people in week 6 of the 12 week TechStars startup accelerator. The pressure for us to execute is intense – we know that potential investors are evaluating us and the progress we make. Two of our top goals during the program are to launch a beta version of our forthcoming real-time tax planning product (announced at FinovateSpring) and to assemble the core team that will enable us to prove out our business idea to provide online tax planning services to individuals.
So, six weeks ago we met an amazing CTO candidate – a recently departed senior engineer from a major tax filing company. He had seven years experience building tax software, he had the right entrepreneurial mindset (offering to take no salary until we closed our seed round), and his references were glowing. We could just imagine how much more progress we could make on our product, and how much more credible our team was going to look to investors at the big “Demo Day” at the end of the accelerator program.
Two weeks ago our candidate hit the ground on a two week contract-to-hire test. On Friday, we decided to call it quits, despite all of those pluses. The experience helped us discover what was important in our hiring process.
GoodApril’s Hiring Manifesto
We Will Hire Better Than Ourselves
It’s important that we stretch ourselves and our team’s capabilities by hiring people who are strong in areas where we are not. The biggest thing that went wrong with our hiring process was that we discovered our CTO candidate couldn’t keep pace with my co-founder, Benny, from a pure technology development perspective. While Benny is a talented engineer, he’s also got an MBA and two years experience as a Product Manager – we need our CTO to be a better developer than he is. The same holds true for making a hire in any other functional area: marketing, business development, etc.
We Will Hire “Swiss Army Knives” (for now)
As a small team can’t afford to hire team-members with narrow functional capabilities – we should be hiring diversely talented generalists who can help provide coverage across multiple elements of our business. Our candidate had strengths that were extremely relevant to product design, team management, and some specific elements of tax software, but didn’t have as much ability to make hands-on contributions in other areas.
We Will Reward Entrepreneurial Ambition
On the positive end, our candidate truly impressed us with his willingness to take risks in pursuit of our entrepreneurial vision. In exchange for his willingness to take less salary, we agreed to over-compensate him with equity. We recognize not everyone can afford to take as much risk as others, but those willing to take more risk should see greater upside.
As we move forward, I’m sure we’ll continue to develop more of a point of view on how to hire – I’ll be sure to share those here as well. In the meantime, if you’re a full-stack software engineer looking to take a lead development, or even CTO role, please check out the GoodApril careers page and get in touch.
Photo Credit: Zach Klein