Raising venture capital is a long, arduous journey that directly leads into another treacherous expedition of ensuring you as a founder and your company are making the most out of the capital you fought so hard to secure.
Competition For Talent
The biggest obstacle after you’ve raised capital is facing the constantly increasing competition for talent. In our post-pandemic world with remote work as an option, job-seekers have more opportunities than ever before.
On average it takes roughly 64 days to hire a software developer. Assuming you have the internal expertise to even interview your key hires, your internal team will spend about 38 hours total on recruiting, interviewing and deliberating for each offer extended. That is a lot of time your team is spending not focused on growing the business.
What to Focus On?
You are a founder, not a superhero. You cannot possibly focus on your company’s vision, growth metrics, raising capital, managing financials, taking care of your team and recruiting for the key hires needed once capital is raised.
If You’re Looking For Talent After Raising a Round, You’re Late
Considering the extended period of time it takes to hire, you cannot wait until after you close a round to start looking for talent. If you do not start the recruiting process until after securing capital, you will lose at least two months of opportunity for growth.
Investors are looking for founders who have a sustainable business that can scale. Accomplice works with founders as they are raising capital to understand their six-month operating plan and the key hires needed to act on that plan.
Steady growth is pertinent to success of early-stage companies. Accomplice is able to scale your engineering team as your business grows. Doubling your engineering team in 2 months can be crippling to a business. That’s why we work with founders on a hiring plan that is both sustainable and cost-effective.