People Capital

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VentureSpur Accelerator Fall 2013 Workshop

VentureSpur Accelerator Fall 2013 Workshop

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  • 1. PEOPLE CAPITAL: MONEY IS NOT THE ONLY THING YOU NEED TO RAISE AT STARTUPS Mike Yonker, President, Learner Mobile @theyonks/@learnermobile VentureSpur Workshop Fall 2013
  • 2. “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
  • 3. KNOW YOU !   Be self-critical! !   Be honest! !   Be authentic! !   What do you look for when you hire someone?! Me
  • 4. KNOW YOUR BRAND !  What’s Your Brand?! •  Mission! •  Vision! •  Values! !  Live it ! !  When all else fails employees will make daily decisions guided by it!
  • 5. KNOW YOUR PARTNERS Will they be there in the rain? Would they be there, when in pain? Will they work as hard as you? Will they leave you holding poo?
  • 6. BUILD A TEAM !  It takes all types! •  My first lesson! •  COMPAQ ’90! •  Briggs-Meyer Test! !  Do you really want your team to be just like you?! !  Also stresses the need for empathy and communication! ! Team = Cohesion = >Performance!
  • 7. INTERVIEW WELL !  Job descriptions set expectations! !  Trick questions suck! !  Know what you’re hiring for! •  Skills! •  Experience! •  Core Values! !  Interview against their resume!
  • 8. MEASURE SUCCESS !  Goals = Responsibility! !  Metrics = Accountability!
  • 9. COMMUNICATE PRIORITIES !   Employees make tons of decisions daily! !   Priorities guide those decisions and allow for autonomy! !   You’re all on an adventure – it’s nice when you feel like you’re in the same boat, going to the same destination!
  • 10. PROVIDE GUARDRAILS !  No one likes to micro-manage! •  If you do, you have other problems! !  No one likes to be micro-managed! • If they do, you have other problems! !  Set guardrails, like French parents!
  • 11. LEAD, THEN MANAGE ! What Makes a Great Leader?! ! Management != Leadership! •  Counting value vs. Creating value! •  Circles of influence vs. Circles of power! •  Leading people vs. Managing work! !  Great Management = Operational Efficiency!
  • 12. REMOVE BARRIERS #1 JOB OF GREAT MANAGERS IS TO SET DIRECTION, REMOVE OBSTACLES, AND ALLOW EMPLOYEES TO RUN QUICKLY
  • 13. DEAL WITH UNDERPEFORMANCE !  Harmful for everyone! !  Use informal accountability! !  SHAKE on it!!
  • 14. WORK != LIFE !  Great employees are going to work long and hard! !  Encourage hobbies and vacation - everyone needs an escape, incl. you! !  Think hard about company events! •  Do you want to ask more time?! •  Are you encroaching even more on their personal/family time?!
  • 15. SAY SORRY !  Professional environment! !  Civility still applies! !  If you slip up, do the same think you’d tell your kids to do! My Wife
  • 16. DO THE SIMPLE STUFF, IT MATTERS !  Provoke curiosity! !  Think like the best sales people! •  Ask questions! •  Listen, think, respond – 2 ears/1 mouth! !  Don’t interrupt! !  Everyone’s voice matters – have a parking lot for ideas! !  Getting a raise wears off – take notice/say thanks!
  • 17. “CAUSE CHANGE AND LEAD; ACCEPT CHANGE AND SURVIVE; RESIST CHANGE AND DIE.” – RAY NOORDA
  • 18. QUESTIONS?
  • 19. THANK YOU mike.yonker@learnermobile.com @theyonks/@learnermobile