Chick Launcher & DLA Piper hosted an event called “Building The Right Team for Your Growing Startup” tonight. Here are my favorite bytes:
ANN LAWRENCE, Partner, DLA Piper LLP – Host & Moderator
MARTA FERRO, Chief Executive Officer, Pink51
STACEY GOLDSTEIN, Co-Founder, Lola Getts Active
GALIT LAIBOW, Founder, Foodstirs, Inc.
KEVIN McGUSHION, CEO & Founder, InkaBinka
ANN: Introduce the perspective hire to the company’s mission, office, team and then ask “what would you bring to the table?” rather than searching for a person who checks off on a list of characteristics.”
KEVIN: A’s hire A’s, B’s hire C’s.
A lot of people don’t pivot well, and lose confidence because the company changes direction. The core team must have faith in the CEO and project.
GALIT: Keep networking to find the right person! We have someone right now that keeps emailing ideas over and over and I think “will she give up?” but I think I am going to give her a chance.
KEVIN: I have mentors on my advisory board that I compensate with friendship & investors with equity. I am shameless. “Every friend I have is an investor.”
For our app the savvy investors ask, “what’s retention like? It’s not the user number but rather the download number, how long they spend using your product.