Hiring, by doing
Your output is only as good as the team working on it. At Good Capital, our hiring process is designed to reveal not just a candidate's skills, but their potential to thrive in our dynamic, collaborative environment.
In a lean team like ours, every new addition significantly impacts group dynamics. We're not just filling a position; we're adding a new voice to our decision-making process, a new perspective to our investment thesis, and a new personality to our team culture.
This is why our hiring process is intensive and immersive. We need to assess how a candidate will interact with every team member, how they'll handle the varied tasks that come with a non-hierarchical structure, and how they'll contribute to our collective decision-making.
What does the process look like?
Our process culminates in a full day at our office, where candidates experience a typical workday at Good Capital. Here's what it looks like:
Self-scheduled Interviews: Candidates are given access to team members' calendars and asked to schedule their own interviews. This brings forward their initiative and time management skills.
Mock pitch sessions: Candidates participate in and evaluate startup pitches, giving us insight into their analytical skills and investment instincts.
Capital Huddle participation: They join our weekly team meeting, where we discuss our investment pipeline. This shows how they contribute to group discussions and handle real-time decision-making.
Assignments: Candidates work on actual tasks, from summarizing important discussions to creating processes for portfolio companies.
Maanav Sagar, now a Partner at Bharat Founders Fund, recalls his experience: "I came in at 9 AM and left at 7 PM. Throughout the day, I had to schedule and conduct one-on-ones with every team member to get their perspective on the role I was interviewing for, participate in a mock pitch where Arjun played a founder, join the weekly capital huddle, and even summarize discussions from an investor WhatsApp group."
The day should end with the candidate having an extremely clear idea of what their average day could look like at Good Capital, which teams they will have to interact with to get the work done, who will they be collaborating with on the team, and what the expectations of all team members are concerning the candidate’s role.
A crucial part of our process is asking candidates to pitch us a startup. This exercise is revealing in multiple ways:
It shows their understanding of our investment thesis.
The type of business they choose reflects their interests.
Their analysis demonstrates their ability to identify key factors in a startup's potential success.
How they articulate and defend their choice gives us insight into their communication style and ability to handle constructive disagreement.
We're not just looking at their ability to describe a business model. We're assessing how well they can identify key points, articulate a perspective, and back it up with rational arguments - even if we don't necessarily agree with their conclusion.
Why is this process important to us?
This intensive process serves a dual purpose. For us, it provides a comprehensive view of how a candidate will fit into our team. For the candidate, it offers an unfiltered look at our working style and culture.
By the end of the day, both parties have a clear picture of what working together would entail. This mutual understanding is crucial in a small team where close collaboration is the norm. We acknowledge that our process is time-intensive, for our team members as well as the candidates. We're constantly refining our approach to ensure it's fair, consistent, and valuable for all involved.
Interestingly, even candidates who don't end up joining us often express appreciation for the experience. It's our way of contributing to the candidate’s growth, providing insights and skills that candidates can take with them, regardless of the outcome.
Why should you think deeply about your hiring process?
As you build your own teams, consider how you can incorporate elements of this "learning by doing" approach. In the early stages of a startup, every hire is crucial. Creating opportunities for candidates to demonstrate their skills in real-world scenarios can lead to better hiring decisions and smoother onboarding.
In a small team, cultural fit and adaptability are just as important as technical skills. Your hiring process should reflect this reality. The goal should be to find individuals who not only have the right skills but also share your vision and can thrive in your unique environment. It's about creating a group of people who can learn, adapt, and grow together as you navigate the challenges of building a successful venture.
