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Should a startup hire younger or more experienced people?

posted on November 23rd, 2018

This is an important question

I recently met an entrepreneur he hired 5 experienced people at 40k usd per year by the end of the first year he had burnt all the money, no business came, he had to close down.

I asked him if he had hired 5 people at 10k usd per year how many years more he could run the company

He said at least for 2 years more and he could have tried 3 different models.

I asked him would the success be impacted by the experience of the resources he said not much infact he said younger people have fresh ideas and more hunger and passion to learn.

The risks in startups is higher. Especially since most startups are bootstrapped.

Ideally the founders should be the ones who should bring in the experience and the younger folks can rally around them.

Yes sometimes the founders may not have expertise then it can become a challenge.

But if the founders cant learn it how can they build it?

Maybe a healthy mix could be a solution

What do you think?

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