A high-tech startup’s success often comes down to one key attribute: human capital, says Cathy Donahoe, Domo vice president of human resources. “[If the company] has no raw goods, no materials, no logistics—it’s all people.”
Having the right team onboard can make or break your startup, says Donahoe, so it’s essential to take the hiring process slow and seriously. Donahoe has seen several startups make detrimental hiring mistakes that have had lasting effects.
“I think the number one pitfall to avoid is hiring too fast. You really need to know your business and what the needs of the position are in order to hire for that and you can’t rush that,” she says, adding this advice: “Outline what success looks like after 90 days, after the first year, and take advantage of time to find that perfect match. You never want to cut corners or rush and everyone knows you shouldn’t buy the first car you drive. Be patient.”