The Hiring Ladder: Who to Hire at Every Business Stage

Summary

The most crucial hire for a business's growth isn't just about skill, but timing. This hiring ladder outlines key roles needed at different revenue stages to avoid stagnation. From $0 to $500k, founders must first 'hire themselves' by paying a salary and avoiding generalist 'helpers' or vague Executive Assistants. Between $500k and $2 million, hire for your weakness with a functional leader, potentially paying them more than yourself, and consider a part-time bookkeeper. Avoid generalists and 'stretch hires' at this level. In the $2 million to $5 million range, the 'swamp of scale,' hire for your strength to systematize operations, bringing in a full-time bookkeeper. Don't promote generalists or duplicate roles. From $5 million to $20 million, focus on hiring leaders, starting with a controller. Professionalize all departments by hiring experienced functional leaders, and crucially, prioritize competence over loyalty when making promotions. Finally, at $20 million to $50 million, hire your replacement, either a COO or a full CEO, to make yourself optional and free you to focus on strategy or exit.