According to the US Bureau of Labor Statistics, around half of all businesses no longer exist after five years, while only one-third make it past their 10th anniversary. So it’s humbling to consider that my own company, Chariot Solutions, is turning 15 this month.
While that’s no small feat, it’s also no coincidence. This software development company has stood the test of time by walking a delicate line, reinventing ourselves constantly while staying true to our values. While the two might sound at odds, they don’t have to be. The key is building a team for whom progress is the ultimate value.
CHOOSE YOUR PEOPLE CAREFULLY
Companies often hire selectively when their team is small, because they understand that they can’t afford dead weight. Somewhere along the line, however, we forget this.
It’s tempting to want to grow big and do it quickly, but what’s more important is to scale strategically. Rather than filling positions to accommodate new business, be steadfast enough to find the right people. Even if you think you’re leaving money on the table.
From its inception, Chariot committed to hiring only “rockstars.” It may sound a bit banal – after all, who believes they are “settling” when they hand pick a new recruit? But truly, it takes discipline to turn down talented candidates and forego lucrative contracts in the process. We do it because the success rate of a company staffed by the “best of the best” will keep clients coming back and create a much more sustainable growth trajectory than taking easy money now.
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