The document discusses the importance of hiring the right people and firing those who don't fit for startups. It notes that 85% of startups fail and cites statistics showing the high financial costs of a poor hire. Hiring top performers who are 2-3 times more productive than average can greatly increase a startup's chances of success. The document argues that having the right team in place can help startups mitigate risks and reduce the role of luck in determining outcomes. It provides information on how to develop an effective hiring strategy tailored to a startup's needs.

1. S U C C E S S F U L H I R I N G A N D F I R I N G F O R S T A R T- U P S

2. S U C C E S S F U L H I R I N G A N D F I R I N G F O R S T A R T- U P S
Start ups: 85% Failure rate.
You good with that?
Successful Hiring and Firing
for Start-ups
Many Angels and VC’s quote these
numbers. The odds aren’t good for
Start-ups.
We believe that having the right people
can change that.
Of course, you roll the dice with a
Start-up, but having the right People
lowers the need for pure luck.
mysuccess.com
MYSUCCESS, INC.
BOBSMITH@MYSUCCESS.COM
10120 W. FLAMINGO RD. SUITE 4-301
LAS VEGAS, NV 89147
702.740.8080
page 1

3. S U C C E S S F U L H I R I N G A N D F I R I N G F O R S T A R T- U P S
Hiring the right people and
removing the people who don’t
fit are daunting and currently
too expensive.
Too much is at stake.
The problem at a start-up is
that people who don’t fit create
conflicted performance that can
cause an Implosion and an
Explosion at the same time. It
is a disaster; and we believe it
can be mitigated.
mysuccess.com
MYSUCCESS, INC.
BOBSMITH@MYSUCCESS.COM
10120 W. FLAMINGO RD. SUITE 4-301
LAS VEGAS, NV 89147
702.740.8080
page 1

4. S U C C E S S F U L H I R I N G A N D F I R I N G F O R S T A R T- U P S
Some Facts about why
this area is so important:
Top Performers
out
perform the average employee by
2-3x
On balance, the financial
impact of a poor hire over a year:
$300-500k
(cash, equity, revenues, replacement
costs, inefficiencies and use of other
people’s time.)
Missed overall deliverable?
Priceless
mysuccess.com
MYSUCCESS, INC.
BOBSMITH@MYSUCCESS.COM
10120 W. FLAMINGO RD. SUITE 4-301
LAS VEGAS, NV 89147
702.740.8080
page 1

5. S U C C E S S F U L H I R I N G A N D F I R I N G F O R S T A R T- U P S
OPERATIONAL vs STRATEGIC
WORKFORCE PLANNING:
DDI Research; 2012-2013 Selection Forecast Research Study: Key Findings
250 Staffing Directors, 2000 New Hires
1 out of 8
new hires fail.
only
51%
of new hires feel confident that
they made the right decision in
accepting the job.
only
30+%
of the US workforce is Temp or
Contract and is growing at a rapid
rate; as fast or faster than in 2006.
Talent and Market Demand
makes it harder to get great
people today.
mysuccess.com
MYSUCCESS, INC.
BOBSMITH@MYSUCCESS.COM
10120 W. FLAMINGO RD. SUITE 4-301
LAS VEGAS, NV 89147
702.740.8080
page 1

6. S U C C E S S F U L H I R I N G A N D F I R I N G F O R S T A R T- U P S
Investors:
Know that if the Start-up Hires
the Right People and Effectively
Removes the People who don’t
fit, the odds of a successful
return improve.
Good teams and exceptional
individuals can reduce the need
for luck.
Entrepreneurs:
Know if they have the Right
People, it leads to getting s*#%
done, more reliable access to
funding tranches as well as fast
and healthy company growth.
The cost of money goes down
when Entrepreneurs can
mitigate risk. The right people
make a difference.
Luck is a quotient in start-ups.
Good teams and exceptional
individuals can “make their
own luck”
mysuccess.com
MYSUCCESS, INC.
BOBSMITH@MYSUCCESS.COM
10120 W. FLAMINGO RD. SUITE 4-301
LAS VEGAS, NV 89147
702.740.8080
page 1

7. S U C C E S S F U L H I R I N G A N D F I R I N G F O R S T A R T- U P S
Winning/Breaking
Through
Sometimes we forget that we are all
betting our futures on the people we
hire – so we better do it well.
Through Performance, people are the
key to success. Technology is static.
People who aren’t performing need
to become a fit or go to a company
where they can be a fit – and it has to
happen quickly.
mysuccess.com
MYSUCCESS, INC.
BOBSMITH@MYSUCCESS.COM
10120 W. FLAMINGO RD. SUITE 4-301
LAS VEGAS, NV 89147
702.740.8080
page 1

8. S U C C E S S F U L H I R I N G A N D F I R I N G F O R S T A R T- U P S
A Precise
Hiring Strategy
You need precise actions to make
thing happen.
Large companies have resources
and process but low passion.
Start-ups often have passion, and
too few resources.
We start with a review of your
Business and overall direction.
Together, we identify the areas that
are worth attention and define a
forward moving pathway.
mysuccess.com
MYSUCCESS, INC.
BOBSMITH@MYSUCCESS.COM
10120 W. FLAMINGO RD. SUITE 4-301
LAS VEGAS, NV 89147
702.740.8080
page 1

9. S U C C E S S F U L H I R I N G A N D F I R I N G F O R S T A R T- U P S
Rising above the noise.
An OK team and a great idea may
get you going, but success
requires too much luck.
A great team will produce great
ideas. They create big ideas
together and attract the resources
that produce results.
Your job is to understand
what you need, attract the
right resources and direct
them in ways that produce
needed results.
mysuccess.com
MYSUCCESS, INC.
BOBSMITH@MYSUCCESS.COM
10120 W. FLAMINGO RD. SUITE 4-301
LAS VEGAS, NV 89147
702.740.8080
page 1

10. S U C C E S S F U L H I R I N G A N D F I R I N G F O R S T A R T- U P S
High Impact
People
We help Entrepreneurs and Core
Teams get the best traction possible,
with the best people that will make
the necessary difference.
Right people, right time, right place,
right culture, right value proposition,
right future – the inclusion of all the
important parts.
mysuccess.com
MYSUCCESS, INC.
BOBSMITH@MYSUCCESS.COM
10120 W. FLAMINGO RD. SUITE 4-301
LAS VEGAS, NV 89147
702.740.8080
page 1

11. S U C C E S S F U L H I R I N G A N D F I R I N G F O R S T A R T- U P S
The Math:
20: 17 2 1
Many Angel and VC Investors report that of 20 Start-Ups, 17 FAIL, 2 do OK and 1 does Extraordinary.
The failure rate in Start-ups is too high.
It can be improved if Start-Ups do a
better job of hiring the right people and
removing the people that don’t fit.
mysuccess.com
MYSUCCESS, INC.
BOBSMITH@MYSUCCESS.COM
10120 W. FLAMINGO RD. SUITE 4-301
LAS VEGAS, NV 89147
702.740.8080
page 1

12. S U C C E S S F U L H I R I N G A N D F I R I N G F O R S T A R T- U P S
Next Step: We should talk.
Together we can take a look at
where you are and what kind of
people will make a difference.
Send an email to
bobsmith@mysuccess.com
and let’s get talking.
We help Entrepreneurs and
Managers understand Best Practices
in the tasks of Hiring people and
Dismissing people for the company.
We provide Talent Acquisition
Strategy, Staffing and Recruiting
Services to help Start-Ups Hire well.
mysuccess.com
MYSUCCESS, INC.
BOBSMITH@MYSUCCESS.COM
10120 W. FLAMINGO RD. SUITE 4-301
LAS VEGAS, NV 89147
702.740.8080
page 1

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