Building the Team
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The document discusses building an effective team for a startup company. It emphasizes that the long-term job of the CEO is to build the company, not just the product. Company culture, which is shaped by the qualities of early employees, is one of the few sustainable competitive advantages a startup can have. The document provides advice on finding employees who are biased towards action, creative but disciplined, smarter than the CEO, and have a "can do" attitude. It also discusses establishing a strong company culture, effective recruiting strategies beyond job boards, and considerations for hiring, compensation, and valuing employees.
Building the Team
- 1. Building the TeamShion DeysarkarCEO, 80legs
- 2. My perspective:CEO of a funded tech/web startup in Houston for almost 2 years
- 3. Why is this important?Long-term, your job is to build the company, not necessarily the productCompany culture is one of the few sustainable competitive advantages
- 4. Great employeesQualities and characteristics
- 5. Great employees:Biased toward actionThey get stuff done
- 6. Great employees:Creative but disciplinedSticks to deliverables but can see ways to make things better, more efficient, etc.
- 7. Great employees:Smarter than youPays big-time dividends: smart people want to work with other smart people
- 8. Great employees:A “can do” attitudeProblems and barriers are just challenges to be solved
- 9. Company cultureIf you start off with folks with these qualities:Gets Stuff Done Smart Disciplined Creative Problem Solver1. New employees will adopt these qualities2. You’ll find it much easier to do your job as CEO
- 10. RecruitingYou are a tiny fish in a giant pond – recognize this and adapt
- 11. Recruiting:Have an awesome productAwesome people want to work on awesome stuff
- 12. Recruiting:Sell the mission, not the jobIt’s not just a job – it’s a chance to change the world and make a difference
- 13. Recruiting:Building a talent pipelineYou’re at a disadvantage as a startup – learn how to cut in line in front of the big boysPlan ahead – start building relationships with people and organizations that will bring you talent
- 14. Recruiting:Monster.com is a last resortThe people you want to hire are not looking for jobs
- 15. HiringTiming and the “gates”
- 16. Hiring:When to hireAnytime you find someone awesomevs.When you have a role to fill
- 17. Hiring:The gatesReferral -> Easy Questions -> Hard Questions -> Fit
- 18. Hiring:ReferralsYour current team should be the best filter for evaluating new hires
- 19. Hiring:The interview processFirst ask easy questions as a quick filter (e.g., write a binary sort for a programmer)Then ask hard questions and treat them as a discussion, not “gotchas”
- 20. Hiring:Personal FitHave your team be part of the interview process, do a lunch to see how the new hire gels on a personal level
- 21. CompensationThink in terms of levers – have multiple options to meet each employee’s personal economic utility
- 22. Compensation:Your goalPay just enough so that your employee doesn’t have to think about his salary
- 23. Compensation:NegotiationStrike a fair price on the total package, too much negotiation starts you out on the wrong foot
- 24. Compensation:Salary vs EquityThe less money you have now, the more you will need to compensate in the future
- 25. Compensation:Don’t be loose with the equitySet aside a pool of shares for employees and plan any future equity offers within that pool
- 26. Compensation:Avoid handing out big titlesCreates role conflict and ambiguity
- 27. Compensation:PerksEasy to use and shows you understand your employees on a personal level
- 28. Compensation:Ultimately, just be fairCompensation is the bottom line of how much you value each employee
- 29. A few closing thoughtsYour team is the life blood of your company – they will make or break youLove your team – they are your family