Tag Archives: GoodApril

Lessons From Our First Hiring Mistake

19 Jun

Now HiringThree weeks after we made our first contract-to-hire job offer at GoodApril, we pulled the plug.

As a two-person startup, we recognize that making our next three hires will set the culture and trajectory of our company for years to come.  Nevertheless, it’s hard to turn down qualified candidates who fill most, but not all, of your expectations – last week we made the hard choice to go back to the drawing board and find the right candidate, even at the cost of short-term productivity.

“Hire Slow, Fire Fast” is harder than it sounds

That old adage sure sounds great when presented in the abstract, but in the midst of the early entrepreneurial sprint, it’s much harder than you would expect.

Here’s our entrepreneurial reality: we are two people in week 6 of the 12 week TechStars startup accelerator.  The pressure for us to execute is intense – we know that potential investors are evaluating us and the progress we make.  Two of our top goals during the program are to launch a beta version of our forthcoming real-time tax planning product (announced at FinovateSpring) and to assemble the core team that will enable us to prove out our business idea to provide online tax planning services to individuals.

So, six weeks ago we met an amazing CTO candidate – a recently departed senior engineer from a major tax filing company.  He had seven years experience building tax software, he had the right entrepreneurial mindset (offering to take no salary until we closed our seed round), and his references were glowing.  We could just imagine how much more progress we could make on our product, and how much more credible our team was going to look to investors at the big “Demo Day” at the end of the accelerator program.

Two weeks ago our candidate hit the ground on a two week contract-to-hire test.  On Friday, we decided to call it quits, despite all of those pluses.  The experience helped us discover what was important in our hiring process.

GoodApril’s Hiring Manifesto

We Will Hire Better Than Ourselves

It’s important that we stretch ourselves and our team’s capabilities by hiring people who are strong in areas where we are not.  The biggest thing that went wrong with our hiring process was that we discovered our CTO candidate couldn’t keep pace with my co-founder, Benny, from a pure technology development perspective. While Benny is a talented engineer, he’s also got an MBA and two years experience as a Product Manager – we need our CTO to be a better developer than he is. The same holds true for making a hire in any other functional area: marketing, business development, etc.

We Will Hire “Swiss Army Knives” (for now)

As a small team can’t afford to hire team-members with narrow functional capabilities – we should be hiring diversely talented generalists who can help provide coverage across multiple elements of our business.  Our candidate had strengths that were extremely relevant to product design, team management, and some specific elements of tax software, but didn’t have as much ability to make hands-on contributions in other areas.

We Will Reward Entrepreneurial Ambition

On the positive end, our candidate truly impressed us with his willingness to take risks in pursuit of our entrepreneurial vision.  In exchange for his willingness to take less salary, we agreed to over-compensate him with equity.  We recognize not everyone can afford to take as much risk as others, but those willing to take more risk should see greater upside.

Now Hiring

As we move forward, I’m sure we’ll continue to develop more of a point of view on how to hire – I’ll be sure to share those here as well.  In the meantime, if you’re a full-stack software engineer looking to take a lead development, or even CTO role, please check out the GoodApril careers page and get in touch.

Photo Credit: Zach Klein

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An Unexpected Wrinkle in Preparing to Launch a Tax Business

25 Jan

Imagine preparing for the SAT, only to find out three days before the test that it had been struck down, and was no longer required for entrance to college.  That’s sorta what today felt like.

As Benny and I prepare to launch our tax preparation and advice startup, GoodApril, we have been prepping to take the Registered Tax Return Preparer exam with the IRS to help bolster our tax credentials.  While the test is really intended to ensure your local preparer knows their stuff, we thought passing it would help with fundraising and gaining customer confidence.

It turns out, however, that the United States District Court for the District of Columbia struck down the IRS’s registered tax return preparer program on Friday and is preventing it from enforcing the regulations.  As a result, the IRS today suspended the entire program, including its qualifying exam.

With the tax-filing season starting Jan. 30, hundreds of thousands of return preparers won’t have to register with the federal government, pass a competency test or meet continuing- education requirements.

So, it’s back to the drawing board on how to demonstrate that our product is being produced by financial technologists with legitimate tax “chops.”

I guess entrepreneurship is all about rolling with the punches.  In the meantime, you’ll just have to trust us: we know tax.

Introducing GoodApril

19 Dec

GoodApril Tax Services

GoodApril is like Mint.com for personal income taxes.

If you’re like most Americans, you don’t know how much you owe in taxes until you file in April, and what’s worse, you’re not confident you did the right things during the year to make sure you’re paying the least amount possible.

GoodApril plans to solve this by providing a web-based solution that aggregates your financial account data, just like Mint.com, to generate a constantly updating forecast of how much you will owe next April. Our algorithm can then identify specific actions you could take to reduce your tax bill.  At the end of the year, we can then enable you to file your taxes in a fraction of the time it takes today with TurboTax.

In the near term, GoodApril plans to offer consumer-friendly tax forecasting tools to help you understand your tax situation, and to prepare for your tax bill come April.  Visit GoodApril.com or email founders@goodapril.com to get on our launch news list.