Have you ever felt the thrill of starting a business, only to stumble when it comes to scaling it?
But Eli is no stranger to big mistakes.
In 2014, Eli made one of the worst decisions of his career.
He believed hiring from the top down was the right move. But he was wrong…
Backed by the confidence of a successful crowdfunding campaign, he made two hires that cost the company he was building $1m.
After making peace with his mistake, Eli took a step back and hired a marketing executive.
This decision helped his business more than the big-name hires.
Having the right team members
He soon understood that building a great team doesn’t happen by chance, but is backed by strategy and making difficult decisions.
Eli and I discussed his process to build a committed team, which not only helped bring the product to life but also ensured its effectiveness in solving a real problem.
Nailing the hiring process is crucial for any business, and Eli’s experiences speak volumes about how to get it right.
From understanding the importance of auto-fire clauses and blind interviews to navigating the rocky terrain of hope and emotional decision-making, he provides real-world examples and practical solutions.
Listen as we dig into the nitty-gritty of employment contracts and hiring, and to Ellie’s account of the dynamics of team building and its impact on business growth.
In today’s episode, we also talk about:
- The reality of big-name hires and building a team from the top down
- The right approach to a probation period
- The necessity of making tough decisions and letting people go.
Product development was another key topic discussed in the episode.
The success of Instafloss is a testament to how the right team, with the right expertise, can bring a project to life.
Eli highlighted the significance of selecting the right people and ensuring everyone is committed to the team’s success. A selective process and a committed team not only helped bring the product to life but also ensured its effectiveness in solving a real problem.
Tune in and listen to Eli’s journey with Instafloss. Eli provides powerful takeaways for any aspiring entrepreneur who is looking to build the right team. He offers a practical approach to scaling, and an alertness to potential pitfalls and how to turn a start-up into a thriving, successful business.