Realistically, its unusual to find the type of person who is willing to take a huge pay cut in order to spend a significant portion of time at a venture that, according to most published odds, is likely to fail. As a result, you need to make sure your employees understand this is a long-term commitment. Launching a venture is a multi-year investment. Limiting turnover and retaining key employees will be integral for success.
Avoid This: While incredibly important, don’t focus solely on long-term commitment, this could quickly minimize your pool of available candidates. Unfortunately, you’ll have to be realistic and compromise in some cases, accepting less than ideal candidates.