Every company has a rocky beginning.
You want an idea that not many other people are working on, and it's okay if it doesn't sound big at first.
You should think about for the next 10 years, you're going to be giving out 3-5% of the company every year.
... how much time you should be spending on hiring? The answer is 0 or 25 percent.
The second part of how to hire: try not to.
Growth and momentum are what a startup lives on and you always have to focus on maintaining these.