Andrew Waitman, CEO of Pythian Group Inc., says that paying out for top talent can help companies expand. "If you can’t afford [top hires], you stay stalled in a mom and pop business," he says.
Open this photo in gallery: Andrew Waitman is the CEO of Pythian Group Inc., a data base administration company based in Ottawa. PATRICK DOYLE/The Globe and Mail
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Open this photo in gallery: Pythian represents the new generations of new companies of small businesses that goes global immediately, says Mr. Waitman. PATRICK DOYLE/The Globe and Mail
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Open this photo in gallery: More than 70 per cent of the company's 200+ employees work in 22 countries. PATRICK DOYLE/The Globe and Mail
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Open this photo in gallery: In its first 10 years, Pythian was innovative and had a respectable 15 per cent growth a year. But a conflict between founders over the future of the company eventually hit a critical juncture. PATRICK DOYLE/The Globe and Mail
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Open this photo in gallery: There’s a point in the growth of a startup where the management responsibilities reach the limit of the person or partners who founded it, Mr. Waitman says in Wallace Immen's article for It Starts with One. PATRICK DOYLE/The Globe and Mail
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Open this photo in gallery: Mr. Waitman calls it "the million dollar paradox." PATRICK DOYLE/The Globe and Mail
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Open this photo in gallery: In Canada, significant growth also often means expanding into larger markets, like the United States or Europe, which requires experience and skills the entrepreneur isn’t likely to have. PATRICK DOYLE/The Globe and Mail
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Open this photo in gallery: "At some point you need an experienced executive and several other key staff who can cost you a total of about $1-million in compensation. If you can’t afford them, you stay stalled in a mom and pop business," he says. PATRICK DOYLE/The Globe and Mail
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