Bill Kenney: Hi and welcome to the next episode of Belly2Belly. We’re here with our great friend Micah Boster. Welcome, Micah! Our topic today is scaleup hiring strategies.
Micah Boster: Hey, how are you doing, Bill?
About Nighthawk Advisors
Bill Kenney: Great, thanks! Your company, Nighthawk Advisors, has extensive experience working with scaleup companies. Before we dive into scaleup hiring strategies, could you give our audience a brief introduction to Nighthawk Advisors and your work?
Micah Boster: Absolutely. I’ve spent most of my career in sales, partnerships, and operations strategy, beginning at Google. About ten years ago, I moved back to New York and worked in early-stage operations at four different NYC startups, gaining valuable insights into what works and what doesn’t. I founded Nighthawk about six or eight months ago in response to the changing business climate. Companies now need to execute better, and startups often struggle with that. At Nighthawk, we examine a company’s business operating system, including goal-setting and resource planning, to help them build a strong foundation. This is crucial for scaling and meeting investor expectations, especially since the days of getting a big check and figuring things out later are over.
Bill Kenney: That’s very insightful. Everyone wants to succeed, and having the right foundation is key.
Micah Boster: Exactly. Every founder aspires to build something impactful, like Mark Zuckerberg. To do that, they need a solid foundation and the right team.
Most Common Scaleup Founder Hiring Mistakes
Bill Kenney: We spoke last week, and I was intrigued by your thoughts on effective hiring processes for scale-ups. Where do scaleups typically face challenges when hiring, and what are the common mistakes they make?
Micah Boster: Scaleups often face challenges as complexity increases and they start hiring people reactively without a clear plan. Founders may try to hire senior talent to own functions they don’t fully understand, leading to mismatched hires. The pool of senior talent willing to join a startup without founder-level equity often comprises individuals transitioning from big companies or those with less-than-perfect track records. This mismatch can be costly in terms of money, time, and energy, and it can set the company back if resources are already limited.
Scaleup Hiring Strategy Best Practices
Bill Kenney: That makes sense. How can companies avoid these pitfalls?
Micah Boster: First, it’s crucial to clearly define your core needs from the outset. For example, if technology is core, ensure you have a technical co-founder. Once you get past the MVP stage, consider hiring fractional talent—experienced individuals for specific roles and timeframes. This approach is more cost-effective and allows you to bring in expertise without committing to full-time hires. It also gives you time to understand your product-market fit and growth plans before hiring a permanent senior leadership team.
Bill Kenney: That’s a smart approach. It reminds me of a company growth model that equates a company’s lifecycle to a person growing from infancy to maturity.
Micah Boster: Absolutely. A startup’s needs change as it grows, much like a person’s needs change from infancy to adolescence. Your team and the problems you face will evolve. In the early stages, preserving capital and flexibility is crucial. Later, as you reach more stable stages, you can bring on long-term talent to drive sustained results.
The Most Common Attribute of Succesful Scaleup Founders
Bill Kenney: It’s essential to have the right experience at each stage to navigate those transitions effectively.
Micah Boster: Exactly. The key is humility—knowing your strengths and weaknesses and seeking help where needed. Successful founders are those who recognize their limitations and bring in the right expertise to fill those gaps.
Bill Kenney: Thank you so much for your insights, Micah. This has been incredibly valuable. Can we share your contact information with our audience?
Micah Boster: Of course. I’d love to hear from your listeners and answer any questions they might have.
Summary Highlights for Scaleup Hiring Strategies
- Strategic Hiring: Avoid hiring senior talent too early; instead, use fractional hires to fill specific roles during early growth stages to preserve capital and flexibility.
- Core Team Foundation: Clearly define the core needs of your founding team based on the company’s focus (e.g., technical expertise for tech startups).
- Adaptability and Humility: Successful founders know their limitations, seek expertise, and remain flexible to navigate the changing needs of a growing startup.
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About MEET
MEET helps B2B & B2G companies scale in the U.S. through trade shows, events, and strategic connections. Contact Bill Kenney to discuss your U.S. expansion goals bill@meetroi.com or +1 (860) 573-4821.
