122 - Hiring People Before You Need Them Is A Terrible Idea

<p><span style="font-weight: 400;">Oftentimes, when FinTech startups receive funding, they spend a lot of it on hiring new employees. During this episode, I explain the numerous negative consequences of growing your team before your company is ready for it. </span></p> <p><span style="font-weight: 400;">If you found value in this episode, I would really appreciate if you could leave a review! My mission is to help and support as many FinTech startups as possible, and when you leave a positive review, more people can find this podcast and help their companies!</span> <span style= "font-weight: 400;">If you are on Apple, just </span><a href= "https://podcasts.apple.com/ch/podcast/compliance-that-makes-sense/id1535160531"><strong>click here to review</strong></a><span style="font-weight: 400;">, select “Ratings and Reviews” and “Write a Review” and tell me what your favorite part of the podcast is. </span></p> <p> </p> <p><strong>Today's episode:</strong></p> <p><span style="font-weight: 400;">[00:50] What many FinTech startups do when they receive funding.  </span></p> <p><span style="font-weight: 400;">[01:13] The numerous problems that are associated with hiring people in a hurry.</span></p> <p><span style="font-weight: 400;">[04:21] A common occurrence that takes place when experienced people join a less mature team. </span></p> <p><span style="font-weight: 400;">[05:43] What often happens when people aren’t 100% occupied at work. </span></p> <p><span style="font-weight: 400;">[06:10] Complaints that are likely to arise when startups hire people before they need them.</span></p> <p><span style="font-weight: 400;">[07:02] A commonly-held false belief about growth. </span></p> <p><span style="font-weight: 400;">[08:11] Why needing an expert is not a good reason to hire someone. </span></p> <p><span style="font-weight: 400;">[09:19] The three factors that lead to the growth of FinTech startups. </span></p> <p><span style="font-weight: 400;">[10:52] The correlation between knowledge and risk-taking. </span></p> <p><