How to hire if I have no money?

Hiring is about making someone part of the team in exchange for giving that person something he/she is happy with. Generally, it is money you give. For startups, money is limited. So what can you give in this case?

A Dream: You are in this to follow a dream. You need to share the dream with the new hire to generate interest in the latter.

An Interest: With the dream, you need to give the hire a vested interest in the growth. This can be done through equity or a promise to give equity at a later date (stock options). Equity is the instrument depicting the growth and development of the startup and contains the value which a startup is able to generate.

You should be able to transmit your dream, your passion, your vision and a stake in all this with a potential hire to close the recruitment.

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