172: Finding A-Grade Talent on a Bootstrapped Budget with Cyan Ta’eed of Envato
For any startup to be successful, it’s going to need an amazing team. It’s why Fortune 500 companies are willing to pay their executives so much, and invest millions of dollars into finding and hiring the right people.
For the founders of startups, though, especially those that are bootstrapping, there’s barely enough money to pay themselves, let alone hire anyone anyone else. The challenge of finding the right person to bring onto your team becomes that much harder.
It’s a position most founders find themselves in when they need to start bringing on new staff, and Cyan Ta’eed was no exception.
In the beginning of Envato, one of the world’s leading digital marketplaces with over 1.5 million active customers, it was just Ta’eed and her two other co-founders. It was a 100% bootstrapped operation, and still is today, and for a while, the three-person team was enough. But they soon quickly realized that if they were to grow any further, they needed to grow their team.
“We couldn’t offer above market, because so many startups who had taken funding to get these amazing, sort of, guns. These people who can command these incredibly high salaries,” Ta’eed says. “So instead we would look for people with great potential, people who were entrepreneurial themselves, people who we knew could take the ball and run with it.”
Ta’eed hit the pavement and began the seemingly impossible task of finding that unicorn who’s driven, entrepreneurial, and a problem-solver. In the end, though, she found a system that made finding and hiring exceptional talent, exceptionally easy.
In this interview you’ll learn:
- Where to look for when hunting for A-grade talent
- How to know whether your new employee is really going to help you grow
- What a highly effective founding team should look like
- How to juggle building multiple products without losing focus
- How Ta’eed disrupts an entire industry
- & much more!