Hiring your friends: Is it such a good idea?
At last Wednesday’s Entrepreneurship 101 lecture, students heard Tammy Sturge of HR Transformations Inc. talk about the basics of HR management.
Start ups often find themselves building their initial team with friends, lab colleagues — people you know. At some point, an investor comes in and says, “I like the opportunity, but I think that x and y are just dead wood in the company — get rid of them if you want me to invest.” You suspect that they may be right. How do you resolve the conflict between a sense of personal loyalty versus business discipline?
We’d love to hear your thoughts on this in the comments. In the meantime, if you didn’t make it to the session, you can watch, read, follow allow and share with the following links:
Downloads and Resources
Tony Redpath mentored entrepreneurs at MaRS, with a particular emphasis on environmental, advanced materials and manufacturing markets. His primary role was to ensure that MaRS has the right programs in place to help companies take their ideas to market and that these programs are working together. See more…