Construction First Facebook office in Austin to bring together most of the Quora team, Bain Capital Ventures chief executive Sarah Smith has done a bit of everything when it comes to hiring. At TechCrunch Early Stage, she explained how to make sure the first critical hires are the right ones to grow a business. As an investor at Bain Capital Ventures, Smith has a broad view of the issues companies face when looking for the right candidate to drive organizational success.
In our conversation, Smith touched on a number of questions such as who to hire and when, when to fire and how to ensure diversity from the early days.
Things to consider when thinking about hiring for the first time
When a business first hires – then evolves into a larger organization – processes and needs can change, but the culture needs to be consistent from the start, according to Smith. From there, it is essential to focus on good first managers.
I really encourage you to take the time to think about what type of business you want to start before you go out and start interviewing people. So it will really be a question of understanding and defining your culture. And then the second thing I would think of when you go from, you know, five people to, you know, 50 and beyond is that managers are really the key to your success as a business. It’s hard to overestimate how important managers, great managers, are to the success of your business.
So we’re going to talk a bit about how to think about this, because there are a lot of questions to be asked in helping people become executives for the first time. As a founder you may be dealing with people for the first time, so how do you think about starting the business to be successful.