For many startups, the first year is often its most challenging and volatile. Trying to gain momentum in the market, developing a value proposition, and trying to figure out what you are even doing is daunting. Furthermore, the stats around successful startups are certainly not encouraging. While there are studies providing varying data, it is fair to say that many startups fail within the first few years. This study provides an industry breakdown of startups by year and cause of failure. I have an abundance of admiration for those who are courageous and take the leap. It takes grit, courage, passion and a lot of personal sacrifice.
The secret sauce for success that is not much of a secret is securing the right talent. This becomes challenging when you are a startup, a bit scrappy and in lack of two important resources: time and money. But, let’s consider the true opportunity cost of getting the most important thing wrong: the PEOPLE that ultimately join you in your mission. Here are some simple ways to engage and secure the talent that you want along for the ride.