Of course, this is all predicated on the ability to successfully classify potential employees as A, B, or C players.
A couple of months ago, I interviewed at a startup for a product management position. During the interview, it became clear that none of the interviewers had a clue about what product managers are supposed to do. It was almost as if somebody told them "You need a product manager!" (and it certainly seemed like they did), so they went out searching for one. I doubt that they would have been able to tell a good product manager from a smooth-talking bad one.
If you're trying to hire somebody for a position with which you have no expertise, I recommend bringing in an outside expert to advise you and screen candidates.
A couple of months ago, I interviewed at a startup for a product management position. During the interview, it became clear that none of the interviewers had a clue about what product managers are supposed to do. It was almost as if somebody told them "You need a product manager!" (and it certainly seemed like they did), so they went out searching for one. I doubt that they would have been able to tell a good product manager from a smooth-talking bad one.
If you're trying to hire somebody for a position with which you have no expertise, I recommend bringing in an outside expert to advise you and screen candidates.