One of the toughest part of building a team is to hire good talents. We are always careful about this step. To find a perfect fit who has better product thinking and a stable fit culturally is a dream come true for most of the companies. As a small startup it is every important for us.
As a product maker, I often think of how to lower our monthly burn and set a proper runway for the future. To do that we often need to cut down our salary, living expenses and go cheap. And put all our spending on hiring good candidates and for the product! This realization helped us to grow better and to control our expenses.
We made some changes to cut down our costs. We fired some of the unproductive staff and decided to take their role and involve more in the product building. Usually, I spend more time researching and managing operational activities for our work. But this change made me engage more with our developers and help them build product 10x faster. Not only help me know the product clearly but also to communicate with my co-workers and become one among them.
A lesson I learned: Even if you're a well-funded startup, don't spend all your money on hiring and building a team. Do spend on your money on improving the product or set a runway for your product.