December 29, 2012

"Unpaid Volunteers Better Than Paid Employees"

Interesting take from Derek Flanzraich, Founder and CEO of Greatist, in his Mixergy podcast:
...convincing people to work for very little money, or no money, is very hard, and if you convince them, it means they’re in it for something else. I love that. I love the idea that we were creating an online TV show at my university because people genuinely thought it was important that we do it. The students were learning how to run a camera, something they’d never done before, purely because they thought it was important that we poke and satirize the university. Here it’s no different, except the difference is it’s bigger and more meaningful. We want to help people think of health and wellness in a healthier way. When we interview people for new jobs, if they don’t believe extraordinarily, passionately in this vision of the future and want to have a hand in shaping it regardless of their experience, we don’t hire them.
I got reminded about the amazing story of the origins of CricInfo (now owned by ESPN), which used to provide live ball-by-ball coverage of cricket matches from around the world.essentially leveraging a volunteer network of cricket fans and with a very lean team of salaried employees.

Arun Natarajan is the Founder & CEO of Venture Intelligence, the leading provider of data and analysis on private company transactions, valuations and financials in India. Click Here to learn about Venture Intelligence products that help entrepreneurs Reach Out to Investors, Research Competition, Learn from Experienced Entrepreneurs and Interact with Peers. Includes the Free Deal Digest Weekly Newsletter: India's First & Most Exhaustive Transactions Newsletter.