Both Sides of the Table
DECEMBER 27, 2011
If you hire 6 sales reps in January at $120,000 / year salary then you’ve taken on an extra $60,000 per month in costs yet these sales people might not close new business for 4-6 months. So your Q1 results will be $180,000 less profitable than if you hadn’t hired them. Hiring more people isn’t always the right answer.
YoungUpstarts
OCTOBER 28, 2015
Startups need to understand how to manage the seed money they receive from investors and VCs. A startup may need to hire a lawyer to understand what the best strategy is given its particular technology space and to guard against being seen as an easy mark. On the other hand, it may encourage other trolls to visit.
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.
The Startup Magazine
AUGUST 12, 2020
As a trucking business owner, you may still have to drive from time to time but you have the flexibility to hire others to do the driving for you. When you own a business, you can boost your revenue substantially by courting new clients, hiring more foot soldiers, or being more prudent when it comes to costs.
Both Sides of the Table
JUNE 17, 2017
If you hire 6 senior sales reps in January at $120,000 / year salary then you’ve taken on an extra $60,000 per month in costs yet these sales people might not close new business 6 months. If you don’t have a strong balance sheet and can’t hire more people that’s fine — but understand this may lead to slower growth. Again, it depends.
Both Sides of the Table
NOVEMBER 18, 2012
Think about it – most entrepreneurs who manage to raise seed money or venture capital usually raise enough money for 12-18 months maximum. So at any given point you are likely operating with a maximum of 9 month’s cash. You hire them, you own them now. Hire fast, fire faster. And yet you have to.
This is going to be BIG.
APRIL 16, 2018
You think you're getting this big fat check compared to the seed money you raised, but they're actually doing something more like dipping their toes in the water. It's like making a hire that you can't fire--so having the chance for multiple interviews over a longer period of time is important and to your advantage.
Gust
OCTOBER 2, 2014
Think about it – most entrepreneurs who manage to raise seed money or venture capital usually raise enough money for 12-18 months maximum. So at any given point you are likely operating with a maximum of 9 month’s cash. You hire them, you own them now. Hire fast, fire faster. Many times it’s less.
Expert insights. Personalized for you.
418 
Let's personalize your content