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Brad Flora

07/08/22

@ Y Combinator

Founders frequently waste money on hiring, especially when they pursue high-salary candidates from large companies, believing they will significantly boost productivity.

Video

Top Ways Startups Waste Money

@ Y Combinator

Top Ways Startups Waste Money

07/08/22

Related Takeaways

Y Combinator Cast

05/07/22

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Founders often mistakenly believe that spending more money will help them achieve product-market fit faster, leading to frustration and distraction from their core objectives.

Harj Taggar

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Founders often believe that having more employees impresses investors and customers, which can lead to focusing on hiring as a key performance indicator.

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Founders often underestimate their unique skills and the specific challenges of their startup, thinking that hiring experienced executives will solve their problems.

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Founders often feel pressured to appear larger and more established, leading them to spend on unnecessary roles and functions that distract from their core mission.

Sam Altman

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Founders often make the mistake of being afraid to hire senior people early on; instead, they should focus on hiring individuals who can get things done and work hard.

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Overhiring is a common mistake that can lead to financial strain; founders should avoid this by ensuring they only hire when absolutely necessary.

Brad Flora

05/20/22

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One of the most common mistakes founders make is thinking that hiring more people will solve their problems and help them get more done.

Brad Flora

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Founders often overspend because they haven't realized that their product isn't what customers want yet, leading them to chase after growth without understanding their market.

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The instinct to over-hire often leads founders to believe they need more people, but this can result in higher employee burn and lower runway.