Beware Big Name Hires with Eli Packouz of Instafloss
35m
·
Peer Effect
·
Eli is the Founder of Instafloss. His company has $2.7m of pre-orders and $1.3m in equity, with a product launch happening soon.
But Eli is no stranger to big mistakes.
In 2014, Eli made one of the worst decisions of his career.
He believed hiring from the top down was the right move. But he was wrong…
Backed by the confidence of a successful crowdfunding campaign, he made two hires that cost the company he was building $1m.
After making peace with his mistake, Eli took a step back and hired a marketing executive.
This decision helped his business more than the big-name hires.
Eli and I discussed his process to build a committed team, which not only helped bring the product to life but also ensured its effectiveness in solving a real problem.
He soon understood that building a great team doesn’t happen by chance, but is backed by strategy and making difficult decisions.
In today’s episode, we also talk about:
- The reality of big-name hires and building a team from the top down
- The right approach to a probation period
- The necessity of making tough decisions and letting people go.
Tune in and listen to Eli’s journey with Instafloss. Eli provides powerful takeaways for any aspiring entrepreneur who is looking to build the right team. He offers a practical approach to scaling, and an alertness to potential pitfalls and how to turn a start-up into a thriving, successful business.
Want to know how Future Fit you are? Take 3 mins to benchmark yourself with our Founder Fitness Test on peer-effect.com. You might discover some surprising gaps!
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The episode Beware Big Name Hires with Eli Packouz of Instafloss from the podcast Peer Effect has a duration of
35:45. It was first published
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