BC HIRE
Saved by @AnmolNarula11

Recruit exceptional people by showing them a promised land.

a 🧵

 1/ A recruitment strategy should be indistinguishable from a marketing strategy.
2/ Entrepreneurs spend a lot of time understanding the market, talking to customers & customizing marketing messages to customer segments.

However, they often fail to realize that recruiting people to work for you is no different from recruiting customers to use your product.
3/ It’s true that the key difference is that you’re asking for money from customers while you’re offering to pay money to prospective employees.

However, for exceptional people, money offered is a commodity because many other companies are offering them the same or higher money.
4/ Exceptional people never look for jobs; jobs look for them.
5/ If you feel people will work for you because of the salary you’re offering, you’ll end up attracting only those kinds of people who want a safe, stress-free job that pays a regular salary.

There’s nothing wrong with that but then that should be an explicit decision.
6/ People who can add higher-than-average value to your company require a higher-than-average treatment during recruitment.

In all likelihood, they’re not looking for just another gig.
7/ To attract such people, you need to understand what’s frustrating them in their current job and what they want out of an ideal professional stint.

Is it a lot more money? Is it less interference from the manager? Is it coaching? Is it working on a new challenge?
8/ Just like different customer segments have different needs, different talent segments have different drives.

Your recruitment pitch has to be customized to those drives.
9/ If you keep harping on about how great your product is while the star employee that you’re chasing is looking for freedom from micromanagement, your message is going to fall flat.
10/ Similarly, if you keep talking about how much freedom your culture allows to employees while that particular employee wants to make a million dollars through stock options, you’re not going to be successful in hiring that person.
11/ Remember 🧠

treat your recruitment like marketing and prospective talent like prospective customers.
12/ That's it!

I'm posting ~1 new mental model for entrepreneurs every week.

Here's the entire list of 65+ mental models that I'll cover: https://t.co/EJGAAJmPIU

Make sure you sign up for email updates on the book page.

More from Paras Chopra

Paras Chopra
Paras Chopra
@paraschopra
1/ Here are my notes from @robertwrighter's book - Nonzero: the logic of human destiny. I enjoyed the book very much.

The basic premise of the book is that history has a direction which favors co-operation and non-zero sum games, and that causes an increase in complexity.


2/ Starting from the first replicating molecule which co-operated with an outer layer to form first proto-cell, evolutionary and cultural history is full of examples where two entities come together to survive and progress a lot more than they would have done individually.

3/ This co-operative entity fares much better than two individual entities because of specialization. If two entities are in the same boat - that they win together or lose together - then trust is implicit.

4/ In a non-zero sum game, trust causes entities to focus on what they do best.

For example, eukaryotic cells - the ones animals and plants have - emerged when two proto-cells merged, and one took the role of energy generator (mitochondria), the other specialized in protection.

5/ Some scientists believe that even nucleus in a cell is a result of an early cell merging with another cell.

So M&A is not a recent phenomena, entities have been merging because of common interests ever since life started.
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Paras Chopra
Paras Chopra
@paraschopra
Difference between wealth and money.

(a short 🧵 thread)

1/ As the oxygen crisis during 2nd covid wave in India has reiterated,

wealth = *stuff* we want
money = *numbers* in our bank

2/ Being wealthy is a matter of priorities, while being rich is a matter of luck and hard work.

3/ Our happiness and well being depends on the wealth we have, not the money.

One can have all the money in the world and still be miserable.

However if one has sufficient wealth, happiness is guaranteed (partly because that’s how wealth is defined).

4/ Here’s how to be wealthy without spending a dime:

- Exercise regularly
- Develop deep relationships
- Help other people
- Eat healthy
- Meditate
- Learn and develop skills
- Laugh
PERSONAL GROWTH
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Paras Chopra
Paras Chopra
@paraschopra
Only two types of startups exist: technology-led and culture-led

(a short thread on this mental model)

🔥 It's also the 7th chapter of my book https://t.co/iLfMb0xhnD


1/ There are two ways an entrepreneur can fail:

a) launch a product that nobody desires;

b) launch a product that people desire but with no significant advantage over established competitors (hence give no strong reason for a customer to switch away).

2/ These two failure modes have their analogous success modes:

a) culture-led startup success where a new desire is discovered and fulfilled;

b) technology-led startup success where new technology is used to fulfill an existing desire.

3/ Let’s explore culture-led startups first.

They are the ones in which the entrepreneur is able to observe a pattern of new derivative desires that didn’t exist before.

Such trends are very hard to spot because initially they can be mistaken either as fads or insignificant.

4/ However, an entrepreneur who has good observation skills is able to connect the dots from diverse sources to grow his conviction about a cultural shift just when the market is
STARTUP
Paras Chopra
Paras Chopra
@paraschopra
We may be alone in the 🌌 ENTIRE UNIVERSE.

(a thread on this bold conjecture)

🎉 It's also my 1st podcast episode https://t.co/7u2FskrhHi


1/ For my inaugural podcast episode, I interviewed @anderssandberg who is a senior research fellow at the @fhioxford.

I highly recommend listening to the entire episode. It's full of gems and insights.

But if you want key ideas, keep reading this

2/ Before we get to that, here's what we talk about in the hour-long conversation.


3/ Both history and science fiction shows us how the world can be dramatically different than what it is today.

4/ But exponential curves (like Moore's law) make it hard to predict the future because early on they look like linear
CULTURE
Paras Chopra
Paras Chopra
@paraschopra
Here’s me trying to make sense of the unprecedented 2020 bull rally of stock markets.

(A thread)

1/ The simple answer to why stock markets are up is always that there’s more demand for stocks than supply.

So the real question is: why is there more demand for stocks?

2/ Actually, what’s happening is what should happen.

Central banks across the world, especially the fed in the US, are providing cheap liquidity across the board to institutions.

With interest rates falling to 0% and below, bonds are no longer attractive.

3/ The central banks are injecting this extra liquidity to stimulate economic activity.

They’ve made risk-free investments such as bonds so unattractive that the only place for money to go is towards relatively risky investments which are stocks.

4/ More than anything else, what central banks want is inflation.

They want things to become pricey so wages grow, profits grow and people’s perception of recession goes away because you’re getting more money than last year.
TRADING

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SRI MOOKAMBIKA DEVI, KOLLUR (KAR)

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