INSTANT MBA: Hiring Is A Delicate Balance For Entrepreneurs

Courtesy of Chad Troutwine

Today’s advice comes from our interview with Veritas Prep co-founder Chad Troutwine. “Some entrepreneurs hire too many people too quickly and then run into financial trouble. Or they don’t have enough foresight to hire enough people to execute their vision.”

Because Veritas Prep was completely bootstrapped, Troutwine says he and his co-founder did not have the luxury of throwing money around without discipline. 

He says hiring is a key component of any business, but it’s also an area that many entrepreneurs get wrong. As the company grew from two people in a living room to over 500 employees worldwide, Troutwine says hiring has been a delicate balance.

“We get really excited about bringing on new people but we have to be very disciplined to make sure that if we bring someone on board, we have a well-defined role for that person. But we don’t want to hire so few people that we stifle our own growth.”

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