June 17, 2013

Never Hire Friends or Family


A very successful serial entrepreneur gave a talk recently and this was one of his screens.  Under "Building The Team", the second point, after Trustworthy, is listed "Never Hire Friends or Family".  You rarely see it so unequivocally stated, or with such a high priority, but there it is.

The phrase "Friends or Family" is the term used to describe the first source for funding for startups.

Therefore, when it comes to Friends and Family, it's OK to take their investment money, but don't hire them.