Beware Big Name Hires with Eli Packouz of Instafloss

15/11/2023 35 min Temporada 2
Beware Big Name Hires with Eli Packouz of Instafloss

Listen "Beware Big Name Hires with Eli Packouz of Instafloss"

Episode Synopsis

Eli is the Founder of Instafloss. His company has $2.7m of pre-orders and  $1.3m in equity, with a product launch happening soon.But Eli is no stranger to big mistakes.In 2014, Eli made one of the worst decisions of his career.He believed hiring from the top down was the right move. But he was wrong…Backed by the confidence of a successful crowdfunding campaign, he made two hires that cost the company he was building $1m.After making peace with his mistake, Eli took a step back and hired a marketing executive. This decision helped his business more than the big-name hires.Eli and I discussed his process to build a committed team, which not only helped bring the product to life but also ensured its effectiveness in solving a real problem.He soon understood that building a great team doesn’t happen by chance, but is backed by strategy and making difficult decisions.In today’s episode, we also talk about:The reality of big-name hires and building a team from the top downThe right approach to a probation periodThe necessity of making tough decisions and letting people go.Tune in and listen to Eli’s journey with Instafloss. Eli provides powerful takeaways for any aspiring entrepreneur who is looking to build the right team. He offers a practical approach to scaling, and an alertness to potential pitfalls and how to turn a start-up into a thriving, successful business.More from James: Connect with James on LinkedIn or at peer-effect.com

More episodes of the podcast Peer Effect