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Culture, Vision / Mission
 

Culture, Vision / Mission

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This presentation provides an overview of approaches to developing you vision and mission, as well as the critical nuances tied to company culture. It also features an insightful case example from ...

This presentation provides an overview of approaches to developing you vision and mission, as well as the critical nuances tied to company culture. It also features an insightful case example from Salsify.

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    Culture, Vision / Mission Culture, Vision / Mission Presentation Transcript

    • Hi Hi Harvard innovation lab : @innovationlab Michael J Skok : Startup Secrets : Culture, Vision & Mission @mjskok Harvard innovation lab #startupsecrets www.mjskok.com START UP SECRETS An insider’s guide to unfair competitive advantage Culture, Vision / Mission Part 1 of COMPANY FORMATION MICHAEL J SKOK North Bridge Venture Partners twitter: @mjskok mjskok.com 1
    • Hi Harvard innovation lab : @innovationlab Michael J Skok : Startup Secrets : Culture, Vision & Mission @mjskok #startupsecrets www.mjskok.com Company Formation Agenda: “Foundations for Building an Enduring Company” • Part I (Tonight) – Vision – Mission – Culture • Part II (Nov. 7) – People • Hiring – we do a deeper dive in this class • Team Building 2
    • Hi Harvard innovation lab : @innovationlab Michael J Skok : Startup Secrets : Culture, Vision & Mission @mjskok #startupsecrets www.mjskok.com Why? Many, many reasons. Simplified: • Ideas are worth little to nothing without… – People to execute – Culture to select the right people & empower them – Vision to attract, retain & unify all stakeholders 3
    • Hi Harvard innovation lab : @innovationlab Michael J Skok : Startup Secrets : Culture, Vision & Mission @mjskok #startupsecrets www.mjskok.com Building an enduring company: Value Prop Startup 4
    • Hi Harvard innovation lab : @innovationlab Michael J Skok : Startup Secrets : Culture, Vision & Mission @mjskok #startupsecrets www.mjskok.com Building an enduring company: Value Prop Peopl e Startup 5
    • Hi Harvard innovation lab : @innovationlab Michael J Skok : Startup Secrets : Culture, Vision & Mission @mjskok #startupsecrets www.mjskok.com Building an enduring company: Executio n Value Prop Peopl e Startup 6
    • Hi Harvard innovation lab : @innovationlab Michael J Skok : Startup Secrets : Culture, Vision & Mission @mjskok #startupsecrets www.mjskok.com Building an enduring company: Vision / Mission Execution Value Prop Startup People Enduring Compan y 7
    • Hi Harvard innovation lab : @innovationlab Michael J Skok : Startup Secrets : Culture, Vision & Mission @mjskok #startupsecrets www.mjskok.com Building an enduring company: Takes more than LLIP service Vision / Mission Execution Value Prop Startup People L isten L earn I terate P ivot Enduring Company 8
    • Hi Harvard innovation lab : Startup Secrets : Culture, Vision & Mission @mjskok @innovationlab Michael J Skok : #startupsecrets www.mjskok.com Building an enduring company: Roadmap… Vision / Mission Execution Value Prop Startup People Cultural Consistency Enduring Company 9
    • Hi Harvard innovation lab : @innovationlab Michael J Skok : Startup Secrets : Culture, Vision & Mission @mjskok #startupsecrets www.mjskok.com Simplification Value proposition Vision / Mission People / Team Culture - starting point to aim for basis for execution underlying enabler 10
    • Hi Harvard innovation lab : @innovationlab Michael J Skok : Startup Secrets : Culture, Vision & Mission @mjskok #startupsecrets www.mjskok.com Agenda: Vision / Mission Vision / Mission Execution People Value Prop Startup Cultural Consistency Enduring Company 11
    • Hi Harvard innovation lab : @innovationlab Michael J Skok : Startup Secrets : Culture, Vision & Mission @mjskok #startupsecrets www.mjskok.com Why is Vision / Mission important? • Focus • Alignment • Empowerment 12
    • Hi Harvard innovation lab : @innovationlab Michael J Skok : Startup Secrets : Culture, Vision & Mission @mjskok #startupsecrets www.mjskok.com Vision / Mission – development… • Vision – How the market will evolve? – How will you will lead it? • Mission – Inspiring statement of intent – Motivational driver to aspire to 13
    • Hi Harvard innovation lab : @innovationlab Michael J Skok : Startup Secrets : Culture, Vision & Mission @mjskok #startupsecrets www.mjskok.com “To organize the world's information and make it universally accessible and useful.” 14
    • Hi Harvard innovation lab : @innovationlab Michael J Skok : Startup Secrets : Culture, Vision & Mission @mjskok #startupsecrets www.mjskok.com “Give everyone the power to create and share ideas and information instantly without barriers” 15
    • Mission Statement Salsify will be a global network of all information for all products sold online.
    • Hi Harvard innovation lab : @innovationlab Michael J Skok : Startup Secrets : Culture, Vision & Mission @mjskok #startupsecrets www.mjskok.com Balancing VM and Execution… • How the market will evolve? • How will you will lead it? • What is your roadmap? 17
    • Hi Harvard innovation lab : @innovationlab Michael J Skok : Startup Secrets : Culture, Vision & Mission @mjskok #startupsecrets www.mjskok.com 18 Roadmap • Bridges your Value Prop and Vision / Mission • Describe the road ahead and how you imagine your journey • What are the tangible steps? • What are key Milestones along the way? 18
    • Roadmap 1 Make Creation & Management Easy Quick win – easier than enterprise offerings, more robust than Excel 2 Make Sharing Easy Product portals within organizations, publishing feeds to channels 3 Make Collaboration Easy Feedback across the supply chain, decentralized authoring 4 Make Reuse Easy Content discovery and aggregation, exploit network effect
    • Hi Harvard innovation lab : @innovationlab Michael J Skok : Startup Secrets : Culture, Vision & Mission @mjskok #startupsecrets www.mjskok.com Agenda: Culture Vision/Mission Execution Value Prop Startup People Cultural Consistency Enduring Company 20
    • Hi Harvard innovation lab : @innovationlab Michael J Skok : Startup Secrets : Culture, Vision & Mission @mjskok #startupsecrets www.mjskok.com Why is culture important? • Hundreds of decisions below the radar • Dissipation vs. concentration of energy… 21
    • Hi Harvard innovation lab : @innovationlab Michael J Skok : Startup Secrets : Culture, Vision & Mission @mjskok #startupsecrets www.mjskok.com Learn from the best? FORTUNE Tech top 5 (2013) – – – – – Google SAS Institute NetApp Ultimate Software Qualcomm Impact of Culture ? 22
    • Hi Harvard innovation lab : @innovationlab Michael J Skok : Startup Secrets : Culture, Vision & Mission @mjskok #startupsecrets www.mjskok.com Learn from the best? FORTUNE Tech top 5 – – – – – Google SAS Institute NetApp Ultimate Software Qualcomm Since 1998… FORTUNE 100 Best Company To Work For List S&P500 Culture Impact 10.8% / 3.3% / yr yr 23
    • Hi Harvard innovation lab : @innovationlab Michael J Skok : Startup Secrets : Culture, Vision & Mission @mjskok #startupsecrets www.mjskok.com Learn from the best? FORTUNE Tech top 5 – – – – – Google SAS Institute NetApp Ultimate Software Qualcomm Since 1998 Culture 100 Best Company List Impact consistently outperform major stock indices by 300% 24
    • Hi Harvard innovation lab : @innovationlab Michael J Skok : Startup Secrets : Culture, Vision & Mission @mjskok #startupsecrets www.mjskok.com “Culture eats Strategy for lunch” Richard Clark, former CEO 25
    • Hi Harvard innovation lab : @innovationlab Michael J Skok : Startup Secrets : Culture, Vision & Mission @mjskok #startupsecrets www.mjskok.com Culture: What is it? For the techies among you: • It’s like the Operating System to run your Apps on • EG the Platform to empower your People 26
    • Hi Harvard innovation lab : @innovationlab Michael J Skok : Startup Secrets : Culture, Vision & Mission @mjskok #startupsecrets www.mjskok.com Culture: What is it? Multi faceted… Simplified: • It’s HOW you do business • The organizational embodiment of things like: – – – – Personality Style Heart & Soul Sub conscience & conscience 27
    • Hi Harvard innovation lab : @innovationlab Michael J Skok : Startup Secrets : Culture, Vision & Mission @mjskok #startupsecrets www.mjskok.com Culture – example framework • Shared Values – Beliefs – Guiding Principles • Living – Leading – Modeling • Executing – Responsibility, Accountability – Success & Failure 28
    • Hi Harvard innovation lab : @innovationlab Michael J Skok : Startup Secrets : Culture, Vision & Mission @mjskok #startupsecrets www.mjskok.com Culture: Values • Examples: – – – – Empowerment, enablement Proactive honesty and openness Respect Integrity … what are YOURS – authentically? 29
    • Values Open & Constant Communication Celebrate Small Victories Measurable, Achievable Goals Empowerment
    • Harvard innovation lab : Hi @innovationlab Michael J Skok : Startup Secrets : Culture, Vision & Mission @mjskok #startupsecrets www.mjskok.com Clarify values – e.g. Diversity • What does it mean to you? • • • • • Race, Religion, Creed, Faith Background Age Experience Domain • What about? – – – – Style Personality Approach Attitude 31
    • Hi Harvard innovation lab : @innovationlab Michael J Skok : Startup Secrets : Culture, Vision & Mission @mjskok #startupsecrets www.mjskok.com What if I don’t have a culture? … you do have one even if you don’t know it! • Good – Deeds not best practices – Individual not collective • Bad – Bad habits – Unconscious behaviors Startup Secret: – Culture will define YOU if you don’t define IT ! 32
    • Hi Harvard innovation lab : @innovationlab Michael J Skok : Startup Secrets : Culture, Vision & Mission @mjskok #startupsecrets www.mjskok.com Cultural gaps… Well communicated Inclusive, Empowering Celebrated Not communicated Internal centric Dysfunctional 33
    • Hi Harvard innovation lab : @innovationlab Michael J Skok : Startup Secrets : Culture, Vision & Mission @mjskok #startupsecrets www.mjskok.com Culture – which do you want? • Barrier – – – – Dissipating Distracting Dividing Politicking • Enabler – – – – Unifying Clarifying Empowering Acting • Damming • Flowing RESTARTS RESULTS (Often defined by it’s absence … the Un-Culture) 34
    • Hi Harvard innovation lab : Michael J Skok : Culture, Vision & Mission @mjskok @innovationlab Startup Secrets : #startupsecrets www.mjskok.com Startup Un-Cultures are Un-Cool A Culture Un-Culture Dissipating Unifying Distracting Clarifying Dividing Politicking Empowering Enabling Damming RESTARTS Flowing RESULTS 35
    • Hi Harvard innovation lab : @innovationlab Michael J Skok : Startup Secrets : Culture, Vision & Mission @mjskok #startupsecrets www.mjskok.com Startup Secret: Culture • Comes from YOU • Comes from the top • Is modeled Startup Culture Enduring Company 36
    • Harvard innovation lab : Hi @innovationlab Michael J Skok : Startup Secrets : Culture, Vision & Mission @mjskok #startupsecrets www.mjskok.com Startup Secret: Culture • • • • Comes from YOU Comes from the top Is modeled Is valued by consistency Startup Cultural Consistency Enduring Company 37
    • Harvard innovation lab : Hi @innovationlab Michael J Skok : Startup Secrets : Culture, Vision & Mission @mjskok #startupsecrets www.mjskok.com The 7 Aspects of Netflix Culture • • • • • • • Values are what we Value High Performance Freedom & Responsibility Context, not Control Highly Aligned, Loosely Coupled Pay Top of Market Promotions & Development 38
    • Hi Harvard innovation lab : @innovationlab Michael J Skok : Startup Secrets : Culture, Vision & Mission @mjskok #startupsecrets www.mjskok.com Developing Guiding Principles… • Example questions for you to ponder your culture: – – – – – – Do you judge yourself by results or effort? How do you solve problems? How do you handle mistakes? How are decisions made and by who? Management - is it a role or a hierarchy? Does the customer come first or your people? – Are you profit or value driven? 39
    • Hi Harvard innovation lab : @innovationlab Michael J Skok : Startup Secrets : Culture, Vision & Mission @mjskok #startupsecrets www.mjskok.com Jeff Bezos and the “door desk” which came to symbolize Amazon’s frugal culture 40
    • Hi Harvard innovation lab : @innovationlab Michael J Skok : Startup Secrets : Culture, Vision & Mission @mjskok #startupsecrets www.mjskok.com Can culture have a physical manifestation? 41
    • Physical Manifestation NO WALLS HANGOUT SPACES AIRPLAY EVERYWHERE
    • Hi Harvard innovation lab : @innovationlab Michael J Skok : Startup Secrets : Culture, Vision & Mission @mjskok #startupsecrets www.mjskok.com Can culture have a physical manifestation? • Yes! – Office layout • (open plan vs. cubes vs. offices) – Founders wall – Mascots – Etc. 43
    • Hi Harvard innovation lab : @innovationlab Michael J Skok : Startup Secrets : Culture, Vision & Mission @mjskok #startupsecrets www.mjskok.com Acquia Ranks as the No. 1 Software Vendor on the 2012 Inc. 500 2012 “Best Places to Work” – Boston Business Journal “One of the hottest companies on the planet” - VentureBeat 47
    • Hi Harvard innovation lab : @innovationlab Michael J Skok : Startup Secrets : Culture, Vision & Mission @mjskok #startupsecrets www.mjskok.com Acquia culture… http://www.youtube.com/watch?v=XZm7Q71F83U 48
    • Hi Harvard innovation lab : @innovationlab Michael J Skok : Startup Secrets : Culture, Vision & Mission @mjskok #startupsecrets www.mjskok.com Acquia DNA *We're Committed to Awe-some
 *We Do the Right Thing
 *We Jump In & Own It
 *We Give Back More
 *We Inspire a Little Crazy Acquia Give Back - Community Service Day at Cradles to Crayons 49
    • Hi Harvard innovation lab : @innovationlab Michael J Skok : Startup Secrets : Culture, Vision & Mission @mjskok #startupsecrets www.mjskok.com Strong cultures… • = values & principals people can • RELATE to – Personalize – Internalize NOT too abstract • ENGAGE in – Act on 50
    • Harvard innovation lab : Hi @innovationlab Michael J Skok : Startup Secrets : Culture, Vision & Mission @mjskok #startupsecrets www.mjskok.com Culture • • • • • • • • • The Valve Corporation: Aspire To Greatness No managers Hiring the right people Welcome to Flatland: no one tells you what to do Aspiring to greatness means living with failure Having fun Caring for people’s families A corporation with a human feel Not for everyone 51
    • Hi Harvard innovation lab : @innovationlab Michael J Skok : Startup Secrets : Culture, Vision & Mission @mjskok #startupsecrets www.mjskok.com Linking Execution & Culture 52
    • Hi Harvard innovation lab : @innovationlab Michael J Skok : Startup Secrets : Culture, Vision & Mission @mjskok #startupsecrets www.mjskok.com Linking Execution & Culture Doing the RIGHT thing vs. the easy or obvious thing 53
    • Hi Harvard innovation lab : @innovationlab Michael J Skok : Startup Secrets : Culture, Vision & Mission @mjskok #startupsecrets www.mjskok.com Focus on customer service 54
    • Hi Harvard innovation lab : @innovationlab Michael J Skok : Startup Secrets : Culture, Vision & Mission @mjskok #startupsecrets www.mjskok.com sh** happens! 55
    • Hi Harvard innovation lab : @innovationlab Michael J Skok : Startup Secrets : Culture, Vision & Mission @mjskok #startupsecrets www.mjskok.com Focus on customer service New York, 9/11 => “the one way rental” 56
    • Hi Harvard innovation lab : @innovationlab Michael J Skok : Startup Secrets : Culture, Vision & Mission @mjskok #startupsecrets www.mjskok.com Culture as a touchstone • Fall back to it when there is no obvious – Answer – Direction – Priority • Knowing what the RIGHT thing to do is… 57
    • Hi Harvard innovation lab : Startup Secrets : Culture, Vision & Mission @mjskok @innovationlab Michael J Skok : #startupsecrets www.mjskok.com Example A results oriented culture… 58
    • Hi Harvard innovation lab : @innovationlab Michael J Skok : Startup Secrets : Culture, Vision & Mission @mjskok #startupsecrets www.mjskok.com Example RESULTS ARE EVERYTHING! 59
    • Hi Harvard innovation lab : @innovationlab Michael J Skok : Startup Secrets : Culture, Vision & Mission @mjskok #startupsecrets www.mjskok.com Results at all costs? Really? OK, not ALL costs… • Then what costs? – – – – – Profit? Market share? People? Ethics? Legal? 60
    • Hi Harvard innovation lab : Michael J Skok : Startup Secrets : Culture, Vision & Mission @mjskok #startupsecrets www.mjskok.com @innovationlab Results at all costs? Really? • At what costs? – – – – – Profit? Market share? People? Ethics? Legal? OK, not ALL costs… 61
    • Hi Harvard innovation lab : @innovationlab Michael J Skok : Startup Secrets : Culture, Vision & Mission @mjskok #startupsecrets www.mjskok.com Link Execution & Culture… Focus on results and HOW they’re achieved 62
    • Harvard innovation lab : Hi @innovationlab Michael J Skok : Startup Secrets : Culture, Vision & Mission @mjskok #startupsecrets www.mjskok.com Culture -> Execution Checklist • • • • • Leadership – inspiring, modeling exemplifying Communication Responsibility & Accountability Celebration of Success & Rewards Recognition and learning from mistakes, problem solving 63
    • Hi Harvard innovation lab : @innovationlab Michael J Skok : Startup Secrets : Culture, Vision & Mission @mjskok #startupsecrets www.mjskok.com Commyounikation 64
    • Hi Harvard innovation lab : @innovationlab Michael J Skok : Startup Secrets : Culture, Vision & Mission @mjskok #startupsecrets www.mjskok.com Communication as an enabler • Communication is the lifeblood of your startup – Don’t assume it, even when you’re small • How do you communicate? – Inside and outside (customers, partners, suppliers) • Formal / informal, cadence? – Water cooler, Standup Scrums, Town Hall – Meetups, Customer Advisory Board, User groups etc. 65
    • How do you communicate? One word: CONSTANTLY No cubicles No offices Daily standups Weekly planning Monthly all-hands Hipchat on phones
    • Harvard innovation lab : Hi @innovationlab Michael J Skok : Startup Secrets : Culture, Vision & Mission @mjskok #startupsecrets www.mjskok.com What do you celebrate & reward? • • • • • Sales !! Marketing ! Engineering Services ? Admin ?? • And HOW? – Management and / or peer? – Public or private 67
    • Hi Harvard innovation lab : Startup Secrets : Culture, Vision & Mission @mjskok @innovationlab Michael J Skok : #startupsecrets www.mjskok.com Recognition & Rewards Reinforce Culture • Form, Substance Style – Form • What does it reinforce? – EG who come to sales “club”? » Only sales people = what does this say about the rest of the org? – Substance • Alternatives to Stock, Money? – Customize to the recipient » EG Management take a day to do community work of their choice – Recognition, Acknowledgement can be powerful – Style • Management and / or peer rewards? • Public or privately given? 68
    • What we celebrate Everything! • • • • • • • Customers Using the Software (AWESOME!) New Hires Feature Demos Awesome Inbounds Targeted Sales Birthdays Outside Interests … and anything else we can come up with
    • What we celebrate Chief Arbiter of Taste Klondike Kaptain Burger Friday Magistrate Founder, Plaidoholics Anonymous Chief Beer Officer Master of Martinis Resident Handyman
    • Hi Harvard innovation lab : @innovationlab Michael J Skok : Startup Secrets : Culture, Vision & Mission @mjskok #startupsecrets www.mjskok.com Culture • Define it early, authentically, thoughtfully so it can endure – Try to find things to live by, model • Don’t pay LLIP Service – Should be consistent • Even when pivoting your business – EG Making acquisitions • It’s a good test for whether the acquisition is a fit… • Walk the talk – Defined by YOU, so lead by example 71
    • Hi Harvard innovation lab : @innovationlab Michael J Skok : Startup Secrets : Culture, Vision & Mission @mjskok #startupsecrets www.mjskok.com “Everything [in our strategy] our competitors could copy tomorrow, but they can’t copy the culture – and they know it!”Herb Kelleher, co-founder 72
    • Hi Harvard innovation lab : @innovationlab Michael J Skok : Startup Secrets : Culture, Vision & Mission @mjskok #startupsecrets www.mjskok.com Do it right and you can build… An enduring company Vision Execution Value Prop Startup People Cultural Consistency Enduring Company 73
    • Hi Harvard innovation lab : @innovationlab Michael J Skok : Startup Secrets : Culture, Vision & Mission @mjskok #startupsecrets www.mjskok.com Company Formation Agenda: “Foundations for Building an Enduring Company” • Part I (Tonight) – Vision – Mission – Culture • Part II (Nov. 7) – People • Hiring – we do a deeper dive in this class • Team Building 74
    • Hi Hi Harvard innovation lab : @innovationlab Michael J Skok : Startup Secrets : Culture, Vision & Mission @mjskok Harvard innovation lab #startupsecrets www.mjskok.com START UP SECRETS An insider’s guide to unfair competitive advantage Culture, Vision / Mission Part 1 of COMPANY FORMATION MICHAEL J SKOK North Bridge Venture Partners twitter: @mjskok mjskok.com 75