This article originally appeared on TechCrunch.

When Polyvore CEO Jess Lee was looking for a CFO, she found everything she wanted in Cheryl Dalrymple: incredible experience, shared values about how to run a company, and immediate personal rapport. Yet despite both women recognizing they could form a strong team, when Lee offered her the position, Dalrymple decided it was too early in her search, and turned Lee down.

For entrepreneurs hiring in the current market, that scenario is probably familiar. As a top executive recruiter who works with our portfolio companies explained, what surprises founders is how hard they have to work to acquire at any level. The best senior executive talent especially is being courted by everyone, and candidates have plenty of choices. The amount of time and effort required to close a senior executive is surprisingly high, and many founders underestimate this, and lose candidates that they could have closed. But since hiring a strong executive management team is one of the most proven ways to ensure startup success, it is worth the investment.

You must be logged in to post a comment

Log in