Some Small Business Owners Find People Are The Best Investment

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For computer-kit startup Piper, hiring a lead developer proved transformative.

The venture-backed San Francisco educational technology company noticed its development speed tripled, "and we could execute on software and product priorities that were previously not available to us," co-founder Mark Pavlyukovskyy said recently.

“The level of organization, management and team performance that we got by just adding a senior software leader to the team was just amazing,” said Pavlyukovskyy, who appears on this year’s Forbes 30 Under 30 list.

While startups and other small businesses often achieve new growth by investing in technology, equipment, bigger plants or marketing campaigns, sometimes the best move is spending on people – hiring new employees or consultants, or better supporting current team members.

“The most important investment we've made in our business to date has been hiring the right people,” Pavlyukovskyy said.

Jazmine Valencia, president of New York-based music marketing and management firm JV Agency, shares a similar experience.

“My most important investment has been and continues to be my team,” she said.

“I've learned from Richard Branson to always put employees first, so focusing on that … has helped me grow it in the past few months, hence my focus for the rest of the year. Having a great team that treats my business as their own is a necessary investment for the immediate future and long-term,” said Valencia.

She described her personnel investment as one of her biggest compared to the entire business. “I'm also a big believer in mentoring the youth and the next generation of female executives in the music industry, so I spend a lot of my resources holding seminars, networking sessions and volunteering with female-led groups,” she said.

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