Last week I was talking to a successful entrepreneur and he was updating me on great progress with his new venture. After talking for a bit about how my company is hiring a number of people and how hard it is to find the right people, he mentioned something that made me pause: he had a number of people from his previous business he couldn’t wait to hire as soon as his new business could afford them. With his non-solicitation agreement term limit about to expire, there was no negative recourse to bringing previous employees into his new venture.
A significant benefit for successful serial entrepreneurs is recruiting previous colleagues to a new venture.
This seems obvious in retrospect but hadn’t become apparent until I’d been in a situation where the amount of time and effort it took to find the right people was much more substantial than desired. Recruiting is hard work and to have a pool of trusted, known-quantity previous team members is a real benefit for serial entrepreneurs.
What else? In what other ways is recruiting previous colleagues a benefit for serial entrepreneurs?