How To Hire When You've Limited Money? - Startup Issue

For the start-up companies, hiring is a perpetual problem. On one hand start-up companies need exceptional engineers to work on the products and turn the ideas into reality. On the other hand the talent comes at a price (in most of the cases). Startups usually are on limited budgets which makes it tad difficult for them to attract the best talent.

So there are ways to get around this.

1. First is to offer a share of the company to the most important people in the company. That way, you get them in the same boat as you are. If the company does well, everyone wins. If not, you suffer the loss equal to your share. Fair deal!

2. Selling the dream: This is what's advised by most of the successful entrepreneurs. Find the individuals who share the vision and dream. They'll chip in without demanding much and work with you towards your goal. When your company is successful, you all win. If not, you had nothing to lose.

I've often wondered whether there are other ways of recruiting people when you're on limited budgets, yet you want world class people to work with you.