078 - FinTech Startups Need Fewer People Than They Think

<p><span style="font-weight: 400;">When FinTech CEOs begin experiencing problems in their startups, many believe that the solution is to hire more people. Today I am going to explain why this strategy often ends up exacerbating the issues, rather than solving them. If you’re getting to the point where you feel like you should be growing your young startup, listen to this episode for advice on who you should and shouldn’t be hiring. </span></p> <p><span style="font-weight: 400;">If you found value in this episode, I would really appreciate if you could leave a review! My mission is to help and support as many FinTech startups as possible, and when you leave a positive review, more people can find this podcast and help their companies!</span> <span style= "font-weight: 400;">If you are on Apple, just </span><a href= "https://podcasts.apple.com/ch/podcast/compliance-that-makes-sense/id1535160531"><strong>click here to review</strong></a><span style="font-weight: 400;">, select “Ratings and Reviews” and “Write a Review” and tell me what your favorite part of the podcast is. </span></p> <p> </p> <p><strong>Today's episode:</strong></p> <p><span style="font-weight: 400;">[01:15] A common mistake that many FinTech CEOs make in their third or fourth year in business.</span></p> <p><span style="font-weight: 400;">[01:56] Why FinTech CEOs are prone to over-hiring employees. </span></p> <p><span style="font-weight: 400;">[02:37] Problems that often arise after a CEO has brought a lot of new people into the company. </span></p> <p><span style="font-weight: 400;">[03:45] Why you don’t need to hire super senior level people for a young start-up. </span></p> <p><span style="font-weight: 400;">[04:50] Downsides of hiring regional heads for compliance, risk, transaction monitoring, and investigation teams. </span></p> <p><span style="font-weight: 400;">[06:06] My advice for streamlining your finance department. </span></p> <p><span style="font-weight: 400;">[06:45] Why too many interns often cause more harm and good. </span></p>