Long term purpose instead of money
Differentiate from big companies to attract talents.
When I started Playax with my partner Juliano, we did not have money to pay high salaries for tech talent in São Paulo, one of the most expensive cities in Brazil. Our startup was a high-tech innovative platform in the music industry, so we needed the best developers to create complicated algorithms. On a first try, we offered bellow average salaries, but even if some developers were interested in the company’s challenges, they did not accept the job. When we started to offer equity, we attracted exactly the people we wanted to our team: people with passion and long-term commitment with the company. Moreover, people willing to give up high salaries in exchange of being part of the company’s construction and purpose.