I've made mistakes spending too much, seldom the opposite. If you have enough capital, it's easier to recover from overpaying for someone mediocre than spending bottom of the barrel and getting your money's worth.
Hiring too junior and expecting people to "grow" into the roles. The demands of the roles always grew faster than the people could, particularly given there was little to no time for mentoring and coaching in a fast-paced start-up.
Marketing and Sales Manager at MD Building Systems of Florida, Inc
October 3rd, 2016
Only once about 50 years ago I made the mistake of not buying the Best Equipment available and NOT hiring the best and paying very well.
The most important asset a company has is personnel. Then comes equipment.