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Hiring Without Money with William Glass of Ostrich
How do you hire people when you have no money?
While this may seem like an impossible task, the truth is that it is not as difficult as you might think. It starts by understanding what is important to the individual. Then connecting their desire your the value of your opportunity.
Compensation comes in a lot of different forms and money is just one piece of the equation. Professional growth, challenging work, strong leadership, mission, purpose, mentorship, and equity are also forms of compensation.
The most powerful form of compensation you can offer is the one thing that is REALLY important to the individual that you need to hire.
William Glass is the Co-Founder & CEO of Ostrich, a financial habit-building app that uses community and social accountability to help people achieve their financial goals.
In addition, William is the host of the Silicon Alley Podcast which focuses on telling entrepreneurs’ stories & learning from their experiences. His background is in software sales leading sales teams at Gartner and opening up a new vertical for an AI startup, Remesh.
In 2014, Will was awarded a Fulbright scholarship through the U.S State Department where he taught English in rural Thailand. Glass has his B.A. in International Relations from Rollins College in Winter Park, FL. Will is originally from Alabama and now resides in Queens, New York.
TODAY WE DISCUSS:
- How to hire strong people without money
Challenge?
- Not in the financial position to bring someone on full-time.
- Set financial metrics
Why is this important to the company?
- No other way to build the MVP
Rick’s Nuggets:
- Take your time
- Really understand a person's desire
Solution:
- No code
- Built using no-code and hacked along the first version of the app
- Found developer through a referral on the no-code forum.
- Tracked hours worked as a contractor but rather than billing us, he banked them.
- Equity vesting began when the engagement began.
- A small percentage of revenues goes to paying off the banked hours.
- Once the company hit certain financial milestones, Stephen to come on board full-time.
- Altered the agreement before hitting financial metrics.
Rick’s Nuggets:
- Resourceful
- Identify people you want to work with
Key Takeaways that the Audience can plug into their business today! (Value):
- If there is alignment in mission & desire to work together, and you can find creative solutions that meet both the company's and individual’s needs.
- Only through strong communication were we able to determine the solution and it meant both parties sharing openly the financial situation.
- Transparent with the financials of the company, runway, and salary from the get-go.
Guest Links:
- LinkedIn: https://www.linkedin.com/in/williampglass3/
Host Links:
- LinkedIn: https://www.linkedin.com/in/rick-girard-07722/
Show Sponsor:
- www.stridesearch.com
View all episodes
By Rick Girard
4.7
3838 ratings
How do you hire people when you have no money?
While this may seem like an impossible task, the truth is that it is not as difficult as you might think. It starts by understanding what is important to the individual. Then connecting their desire your the value of your opportunity.
Compensation comes in a lot of different forms and money is just one piece of the equation. Professional growth, challenging work, strong leadership, mission, purpose, mentorship, and equity are also forms of compensation.
The most powerful form of compensation you can offer is the one thing that is REALLY important to the individual that you need to hire.
William Glass is the Co-Founder & CEO of Ostrich, a financial habit-building app that uses community and social accountability to help people achieve their financial goals.
In addition, William is the host of the Silicon Alley Podcast which focuses on telling entrepreneurs’ stories & learning from their experiences. His background is in software sales leading sales teams at Gartner and opening up a new vertical for an AI startup, Remesh.
In 2014, Will was awarded a Fulbright scholarship through the U.S State Department where he taught English in rural Thailand. Glass has his B.A. in International Relations from Rollins College in Winter Park, FL. Will is originally from Alabama and now resides in Queens, New York.
TODAY WE DISCUSS:
- How to hire strong people without money
Challenge?
- Not in the financial position to bring someone on full-time.
- Set financial metrics
Why is this important to the company?
- No other way to build the MVP
Rick’s Nuggets:
- Take your time
- Really understand a person's desire
Solution:
- No code
- Built using no-code and hacked along the first version of the app
- Found developer through a referral on the no-code forum.
- Tracked hours worked as a contractor but rather than billing us, he banked them.
- Equity vesting began when the engagement began.
- A small percentage of revenues goes to paying off the banked hours.
- Once the company hit certain financial milestones, Stephen to come on board full-time.
- Altered the agreement before hitting financial metrics.
Rick’s Nuggets:
- Resourceful
- Identify people you want to work with
Key Takeaways that the Audience can plug into their business today! (Value):
- If there is alignment in mission & desire to work together, and you can find creative solutions that meet both the company's and individual’s needs.
- Only through strong communication were we able to determine the solution and it meant both parties sharing openly the financial situation.
- Transparent with the financials of the company, runway, and salary from the get-go.
Guest Links:
- LinkedIn: https://www.linkedin.com/in/williampglass3/
Host Links:
- LinkedIn: https://www.linkedin.com/in/rick-girard-07722/
Show Sponsor:
- www.stridesearch.com