We are in process to start a new consulting business on B2C model and would like to hire new resources with ample domain expertise and ability to add value to our organisation at director/head levels.
The problem we are facing:
1. With our limited knowledge in the new domain, how to find the right candidate so that we don't suffer later.
2. Hiring good resource within budget.(Any options other than high salary).
The answer to your questions starts from the value the founders are bringing to the business. What value are you bringing?
For example, if your answer is simply "money", then you will initially mainly attract new hires with "money", meaning above-market-rate salaries.
If your answer is "deepest domain expertise", then you will mainly attract people with that, meaning the satisfaction of working with some of the best and brightest in the field.
And I think that's the rub. To rephrase your own words in a harsh light: