Workable Presentation at TechStartupJobs Fair London 2014
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Workable Presentation at TechStartupJobs Fair London 2014

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Workable helps companies improve the quality and efficiency of their hiring by simplifying the most time-consuming task: browsing, screening and managing candidates. Workable is also sponsor of ...

Workable helps companies improve the quality and efficiency of their hiring by simplifying the most time-consuming task: browsing, screening and managing candidates. Workable is also sponsor of ‘TechStartupJobs Fair London 2014’.

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Workable Presentation at TechStartupJobs Fair London 2014 Workable Presentation at TechStartupJobs Fair London 2014 Presentation Transcript

  • Startup employee Recruitment software – B2B SaaS Fast-growing co’s in 87 countries Startup recruiter Hiring for fast-growth technology companies (Mind Candy, Wonga, Google, eBay) @_roblong
  • VC for a day picking a startup to work for
  • Startup jobs are investments The job - Seed stage startup (<$1m raised) - 0.5% equity with 3-year vesting - $20k below market salary
  • Startup jobs are investments Should you invest? - $60k for 0.25% at exit (assume 3 rounds of 25% dilution) - $150m exit for a 6x return in 5-8yrs (to match the risk profile) - ..and that would be a good scenario!
  • Think like a VC Expect high levels of transparency Evaluate the business fundamentals Do your own research Accept uncertainty, embrace risk Don’t throw dice, make a calculated bet
  • Product Is the product solving a real problem? Is it good / better than the alternatives? What’s the competition? What do people use now?
  • Market Who wants this product and how badly? How much are they willing to pay? How easy it is to reach them? What’s the addressable market size?
  • Business Model How will the company make money? What’s the lifetime value of customers? What’s the customer acquisition cost? Can the company build cost-effective and scalable distribution channels? Check metrics vs industry benchmarks
  • Team Startups are accelerated learning. But you only learn if you work alongside great / smart / cooperative people You’re betting your career on the ability of the founders to achieve a rare success This should be 80% of your decision
  • Financing Is it well-funded? Check history and ask for future financing plans Ask for burn rate, run rate, runway What milestones/achievements will be needed to achieve next funding or profit Ask VCs or angel investors for feedback
  • Work life Workplace culture is more than free pizza Learning and training opportunities Work practices, tools, methodologies Work ethic – startups are hard work but beware of management by heroics
  • Due Diligence Ask for references Ask to speak to employees or investors Get feedback from friendly investors or entrepreneurs Google founders, employees Ask customers
  • Be diligent, NOT paranoid Startups are messy and risky. Don’t expect everything to add up 100% If it doesn’t feel a bit risky, you came late Do it before 30 if you can If it fails, it’s not the end of the world
  • Are you hiring? Workable is a beautifully simple recruitment tool for startups and fast- growing companies. Try it out at www.workable.com