2009, 2010, & 2011: We
Try to Raise Money Three More Times… All End in Failure An email from an investor telling me not to lose sleep, just days before they pulled out of our signed term sheet http://moz.com/rand/misadventures-venture-capital-funding/ and http://moz.com/blog/seomozs- venture-capital-process
Via: http://moz.com/rand/what-company-culture-is-and-is-not/ What Does “Culture
Fit” Mean? What Culture Is Not • Whether you rock climb/surf/ hike/watch NFL/etc • What kind of movies you like • Bean bag chairs • Nerf gun fights • Catered lunches • Mashed potato sculpting contests judged by your auditors at Deloitte (yes, we really did this at Moz, and it was totally fun) What Culture Is Shared Values Shared Priorities Stylistic Cohesion ValuesMission & Vision Hiring, Firing, & Promotion Criteria Cultural Fit =
Less Catchy, Better Advice: Hire
slow. Fire with a consistent, empathetic process. - Moz Why? Because consistency in evaluating people and giving them time to improve is essential to maintaining your reputation internally & externally. When firing happens fast, you create an environment of fear, uncertainty, & mistrust.
In my experience, those who
think highly of themselves are very hard to work with, and those who don’t think about themselves lack self-awareness. In my experience, both confidence & arrogance are correlated w/ poor results, while self-deprecation is often correlated w/ the right kinds of humility.
Moz’s Core Values: TAGFEE Transparent
Authentic Generous Fun Empathetic The Exception We share what we do, what we learn, and where we struggle openly and honestly. We will be our true selves, never masking our beliefs for commercial gain. We seek to give without thought of return. Work is only work if you make it so. Our most important value – we strive to share the emotions & experiences of others. We strive to be the exception to the rule, and to take the path less traveled.
When things go well, values
are easy. When things get rough, values are important. “The core values embodied in our credo might be a competitive advantage, but that is not why we have them. We have them because they define for us what we stand for, and we would hold them even if they became a competitive disadvantage.” - Ralph S. Larsen, CEO of Johnson & Johnson http://www.jimcollins.com/article_topics/articles/good-to-great.html
Core Values Are the Glue
that Holds Vision, Strategy, Team, & Everything Else Together. http://moz.com/rand/vision-based-framework/
Like most CEOs, I sent
emails, presented at team meetings, and expected people to internalize that information. This is not the face of a smart man.
Note: the percentages on this
visual don’t have credible research behind them (though the broader concept does): http://acrlog.org/2014/01/13/tales-of-the-undead-learning-theories-the-learning-pyramid/
Assuming knowledge that’s been shared
once (or even a few times) has been internalized by everyone can create fatal pitfalls. The same type of distribution happens internally at organizations, too.
And, People Managing is NOT
the Only Skill of Value to a Growing Company http://moz.com/rand/if-management-is-the-only-way-up-were-all-fd/
At Moz, We’ve Built Two
Tracks with Equivalent Compensation & Recognition http://moz.com/rand/if-management-is-the-only-way-up-were-all-fd/ Pay ranges at each level are the same across both tracks.
At Moz, We’ve Built Two
Tracks with Equivalent Compensation & Recognition http://moz.com/rand/swapping-drivers-on-this-long-road-trip-together/ I recently made the move from people wrangling to individual contributor myself!
The Price of Success is
Failure after Failure after Failure* * Hopefully, each of those failures provides an opportunity to learn.
1) Moz is by no
means perfect. Critical Caveats: 2) Getting this stuff right does not guarantee success. 3) These lessons were hard learned by me & Moz. I share them in the hopes of saving you that same pain.