The first strategic hire is a game changer
The first strategic hire is a game changer
Good to think about
1. When considering the HR perspective of Seed and Series A investment rounds, an unexpected and significant difference emerges.
2. The HR focus in the Seed round is "Let's see if you can do it yourself.” while the Series A round emphasises recruiting top-notch talent to work for you. This transition from startup enthusiast to CEO poses the second (hidden) Death Valley for startups, as not all founders are prepared to become "real" CEOs and manage rapid growth.
3. To attract the attention of potential investors in the Seed round, a well-rounded core team and a minimum viable product (MVP) with impressive early traction are essential. But what should be showcased in the Series A round? Should we present a "maximum viable product" with improved numbers, or something entirely different?
4. The answer can be found in the HR for a Series A round. It necessitates making the first significant strategic hire, bringing in high-level corporate professionals capable of driving the startup's scaling as well as transforming it into a fully-fledged company. This demonstrates the ability to establish structure, processes, and a professional team, progressing well beyond the realm of a "garage team."
5. In my opinion, this criterion is an essential yet often overlooked factor. When preparing to raise a Series A round for scaling, it is crucial to determine the first top-level professional to hire and assign them the most critical strategic task for a great transformation.
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