Recruiting Team Members

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Slides from the next week of my CMU course "Lean Entrepreneurship". This week focuses on recruiting team members as your business scales.

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Recruiting Team Members

  1. 1. Recruiting Team Members Sean Ammirati Partner, BirchmereVentures Adjunct Professor, Carnegie Mellon University #CMULean
  2. 2. A Team is a prerequisite for Success! #CMULean
  3. 3. “No matter how brilliant your mind or strategy, if you’re playing a solo game, you’ll always lose out to a team.” Reid Hoffman, Co-Founder & Chairman LinkedIn Source: http://www.flickr.com/photos/joi/1431818434/sizes/l/in/photostream/#CMULean
  4. 4. Phases of Growth #CMULean
  5. 5. Phases of Growth #ofTeamMembers Founding Team First Few Key Hires Original Core Group Scale Up #CMULean
  6. 6. Phases of Growth #ofTeamMembers Founding Team First Few Key Hires Original Core Group Scale Up #CMULean
  7. 7. Hacker + Hustler (sometimes + Designer) In the beginning ... #CMULean
  8. 8. Phases of Growth #ofTeamMembers Founding Team First Few Key Hires Original Core Group Scale Up #CMULean
  9. 9. Generalist who will act like founders Whole digit % of company (fully diluted) from option plan Sometimes even call them “founders” First Few (< 5) Employees... #CMULean
  10. 10. Reach into extended network ... #CMULean
  11. 11. Phases of Growth #ofTeamMembers Founding Team First Few Key Hires Original Core Group Scale Up #CMULean
  12. 12. “T” type: deep expertise in one area but also ability to help on a lot of problems This group creates the momentum around culture that is developing Even managers are “player coaches” Approximately 5 - 15 Employees #CMULean
  13. 13. If you do not manage culture, it manages you, and you may not even be aware of the extent to which this is happening. Edgar Schein, professor MIT Sloan School of Management http://www.flickr.com/photos/31242051@N06/3957131735 #CMULean
  14. 14. #CMULean
  15. 15. Phases of Growth #ofTeamMembers Founding Team First Few Key Hires Original Core Group Scale Up #CMULean
  16. 16. CEO should still interview each candidate Professional managers get involved to help scale Still important team can handle ambiguity Approximately 15 - 100+ Employees #CMULean
  17. 17. Compensation • Mix of equity (options) and cash • How much is driven by the balance sheet • If paying below market, make up with options / equity • DO NOT defer compensation and put it on your balance sheet as a liability #CMULean
  18. 18. https://angel.co/salaries #CMULean
  19. 19. Why do people join? #CMULean
  20. 20. “Do you want to sell sugared water for the rest of your life? Or do you want to come with me and change the world?” Steve Jobs http://www.flickr.com/photos/mateus27_24-25/6231257283 #CMULean
  21. 21. Interviewing • Get to know the whole team • Start looking at their historical work • Then test in your environment • “Try before you buy” whenever possible #CMULean
  22. 22. Example: Interviewing a Developer 1. Filter resumes 2. First Interview: bring them in and ask them to bring their best code to review with you 3. Second Interview • Pair program • Take them to lunch / out for a drink #CMULean

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