How to Build Your Dream Team

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Excited… and kinda scared

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FRANCOIS MAZOUDIER        

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85% of the largest European Tech companies are run by first time CEOs. Russell Reynolds

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VUCA: your new world      Most disruptive era ever rapid change everywhere Old rules – broken new rules - added Repeat  Fast paced, risk taking and Ever changing competitive landscape

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Most Startups Fail

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3 things TO BE sure OF:

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2. One shot

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3. You need a KILLER team BUT Why?

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you’re Hiring : 3 teams not 1

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Technology adoption cycle

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3 stages, 3 companies, 3 teams Portfolio structure  The Large Company stage  the scaling stage  The startup stage

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3 stages, 3 companies, 3 teams Portfolio structure  The Large Company stage  the scaling stage  The startup stage

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Early stage IDEATION STAGE PMF STAGE (product/market fit) MVP stage (min viable product)

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What’s your “killer team”

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Should certainly

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Balanced set of characters

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spot the disastrous one early, else !

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killer team - WHY

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"What matters is not ideas, but the people who have them. Good people can fix bad ideas, but good ideas can't save bad people.” Paul Graham

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70% of OUR investment decision is simple. It’s the team Mark Suster – GP, UPFRONT Capital

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8 VERY costly common mistakes

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8 common mistakes 1. 2. 3. 4. 5. 6. 7. 8. No co-founder pre-nup Hiring people like you Not knowing exact role/s Testing the skills, not the fit Hiring at Speed instead of a+ overselling Inflated titles early on Not getting help

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The team Founding CEO

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Co-founders end up fighting

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2 Hiring people like you

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3 No detailed knowledge of roles

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5 Speed vs a*

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A+ talent attracted by other A+ A talent hire B staff B staff only hire C staff your first hires dictate Everything else.

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6 overselling

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7 Inflating job titles

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8 Not seeking help from the pros

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hiring - WHAT TO DO

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HR interview tips  Sell first, then Interview. Failed interviewees often your best advocates.  Exciting then formal  Make it competitive  Hire BOTH direct & use recruiters  Do formal ref checks only for process, else keep to team fit  ASOS culture first: anybody can block a hire (for the right, cultural fit or reason!)  Go out! Games, drinks and dinners, must be informal.

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 Avoid the 8 common mistakes  Hire a* only after PFM stage  Start immediately, hire slowly, fire quickly  Admit what you don't know  Use professionals for the first hires.  Hustle ! You’re expected to  Use your f&F&F  Actively use your network  use friends’ LinkedIn accounts     Ask for favours (2.5 x rule) Offer (small) finders fee. iPad works better than $600 cash prize "subject to“ contracts

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About Company culture LOTS OF CHOICES – but only one is yours.

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Company culture “ What people do when nobody’s watching them “

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Why a company culture Without one, it’s just a job. After product/tech, 2nd best investment Only way to attract top talent from better funded tech firms. Best tool to keep core values as you grow larger extra boost for all  employee attitudes, job satisfaction and organizational commitment  discretionary effort of up to 20%. (source: Arizona state university - 2007-2011) Because nobody can buy it or steal it from you !

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cOMPANY CULTure What do you want it to say? Set your culture or others will do it for you.

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never write it. just do it.

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Values STATED REALITY deliver best service Embrace creativity and initiative Most talented people failed in the bid to acquire remaining 60% BSkyB News of the World closed down. Failure of accountability Strong ethics problem (phone hacking)

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Values STATED REALITY Our culture embraces innovative and imaginative thinking while striving for, and achieving, excellence. Autocratic , Old fashioned Leadership (1) Raise the Bar (2) At the Frontier of Innovation (3) No Limits Crushing Innovation in employees Poor quality product Releases Stock price Feb 7th 2011 $69.69 Dec 12th 2011 $16.21

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Culture builder | your To do list 1. 2. 3. build a culture of accountability from day one keep mouth closed and ears and eyes open build understanding, trust, and credibility with new recruit in the first three months on the job 4. over-promise and sets unrealistic expectations early on 5. Drive changes quickly, respect others’ business and culture backgrounds 6. Complain to investors and board 7. focus, focus, focus on immediate opportunities and key metrics 8. too involved in execution – delegate 9. being CEO get means serving your team 10. No being self-aware, introspective – 360 reviews include you 11. No being too hard on people and set expectations too high

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keep things simple

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Profile it.

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Building your culture wHat you need to do      A Compelling Vision Transparency Shared Language Organizational Inclusion Development starting from the top What you do  Make your company clear about its own.  align people with clear expectations of behaviour  Match culture with talent  build accountability and high performance ethos  Hire a*, show full support and trust immediately  Support failures - analyse.

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CULTURE: I STRIVE TO BE  Real. Don’t project any image, it masks true personality.  Empathetic. Listen, trust, relate. A coach and advisor.  Humble.  Be direct.  Be transparent. It’s your job to make sure people know what’s happening--that means the good, the bad and the ugly.  Never shoot the messenger.  Make the hard decisions.  Don’t state your culture, just do it.

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SMART  real numbers with real deadlines. No "I want more visitors."  Measurable or nothing. No buzz words e.g. "brand engagement" or "social influence."  Attainable – GOALS ARE challenging but possible.  Realistic - be honest with yourself, you know you/R TEAM and limitations.  Timebound – everything has a deadline. No "someday."

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Simple to-do list Get your team profiled. Only complementary hires. Set up your office space according to your values S.M.A.R.T everything Make decisions fast, even with limited data, then course-correct  Get outsiders to help, they want / like to.  Celebrate micro-victories  Get out of the office together    

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Celebrate micro-victories  It’s a long way to a big victory  Weekly updates, by category  Kpi update by team/functio  Open Fridays  Lunch together  Q&A  Debate, poll, vote  Celebrate reaching small milestones  Invite your early adopters, make them part of the family

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What worked for me     Stand up meetings “Open mike” Friday lunches Share the data, especially the bad news Ask “ what would you do? ” often.     Have the tough discussions early, ask for input Agree, then Set challenging goals Progressively give more control to people Have the team spend time on what it doesn’t know yet. People need to learn new things to keep inspired.

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Case study | Finland

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Finland was Famous for…  (Loooong) winters  Snowstorms, Ice, snowstorms, ice. repeat  Vodka  Sauna  ice skates  …ahem… virtual air-guitar

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a New Culture in finland low hierarchy Transparency freedom Responsibility / Accountability be yourself, have fun.

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SUMMARY 1. 2. 3. 4. 5. 6. 7. 8. Your new job: Chief people officer Your company will hire 3 teams, not 1 Avoid the 8 most common hiring mistakes First hires: A+ only, as they will hire most others One chance only. Take your time. Get help from pros. Culture : don’t state it, live it out. Try new things, break a few things.

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HANDY TOOLS, TIPS & MORE               FounderDating - premiere site for founders/co-founders CoFoundersLab - find a co-founder in any city YouNoodle - founder matching Stanford Business School Interns –Stanford interns are cheap Angel List – Angel List jobs board Startup Weekend - Launch a Startup and meet a co-founder FoundersHookUp - Invite-only find a co-founder Founder Strengths – Gallup Strengths Center PartnerUp- small business site to find partners, business opportunities, real estate, etc. Meetup - go to a Meetup! How to hire developers - mike greenfield Foundrs - co-founder equity calculator Lance Laking, common sense on people management Netflix HR

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“You look for three qualities: integrity, intelligence and energy. The most important one is integrity, because if they don't have that, the other two qualities are going to kill you.” Warren Buffet

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Great quote

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