Founders deserve more and they should ask for more. The lowest hanging fruit that I believe Founders should take more advantage of is getting an investors help with recruiting. Why? 1. 20X Improvement in Top of Funnel When our team works directly with portfolio companies on target hire outreach we've seen connection rates 20X that of the Industry Average. Luckily our talent team has created a fine tuned machine to drive this process for portfolio companies. 2. Higher Close Rates Oftentimes having one of your investors hop on a call with a candidate can improve your probability of closing them. It not only provides the candidate with a different perspective, but shows them that you and your VCs truly take this process, this person and winning seriously. As Alex Pall mentioned a couple of weeks ago on linkedin, he has personally hopped on 100 calls working to help candidates for our portfolio company Dandy. That's on top of another 100+ that I know we also did and doesn't include tons more from other backers. I mention this because Dandy had to hire hundreds of people over the course of a couple of years. If the company struggled on their conversion rate from offer to close, which I've seen plenty of companies who do, then they never would've been able to grow as quickly as they did. While we'll never know if all the calls we did actually improved their conversion rate, what I can tell you is the Founders didn't want to leave it up to chance. Put us investors to work!
Investor support in recruiting can make a huge difference in scaling up your company efficiently and effectively. 📈
100%. Seems like a similar philosophy can apply revenue generation? E.g. improve TOFU with target accounts and deploy on strategic deals to build buyer confidence to get across the line 🤔
That's some solid advice for Founders on leveraging investors for recruiting help! 🚀
Totally agree. I think founders also underestimate the power of an email from an investor or two after an offer has been extended to a candidate. Really makes them feel wanted and gives them another person to speak with if they have any lingering qs.
Unlimited power
Good advices as always! Go Jason!🔝
Partner at 9Yards
9moFirst like Shuman Jason Shuman