Startup Secrets - Vision, Mission, Culture
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Ideas are worth very little without a culture to guide the selection of talent and a big, bold vision to attract and unify the team. Human capital is what separates great from good companies – which is why establishing a strong culture to attract and retain the right people, while unifying them behind an inspiring vision and mission is essential to any significant venture.
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Startup Secrets - Vision, Mission, Culture
- 1. Proprietary and Confidential START UP SECRETS An insider’s guide to unfair competitive advantage Vision, Mission, Culture Foundations for Growth & Endurance @underscorevc startupsecrets.com
- 2. Proprietary and Confidential Have a Question? Tweet it! 2startupsecrets.comRoadmap to Success @underscorevc @underscorevc @mjskok #startupsecrets
- 3. Proprietary and Confidential Building an enduring company: Simplification: Vision / Mission Value Prop People Execution Cultural Consistency Enduring Company Startup 3
- 4. Proprietary and Confidential Why? Why are Vision, Mission, Culture important to a startup? 4
- 5. Proprietary and Confidential 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 Execution • Focus • Alignment • Empowerment 5
- 6. Proprietary and Confidential Agenda: Vision / Mission Vision / Mission Value Prop People Execution Cultural Consistency Enduring Company Startup
- 7. Proprietary and Confidential “Give everyone the power to create and share ideas and information instantly without barriers”
- 8. Proprietary and Confidential Vision impact?
- 9. Proprietary and Confidential Vision – development… Vision • How the market will evolve? • How will you will lead it?
- 11. Proprietary and Confidential Mission – development… 4 Ms of Mission Statements* • Memorable • Manageable • Measurable • Motivational
- 12. Proprietary and Confidential Kayak Mission “THE BEST PLACE TO PLAN AND BOOK TRAVEL”
- 13. Proprietary and Confidential Check: Vision or Hallucination? Visions and hallucinations look the same… ...until you try to realize them Try to tell the difference early BIG visions may not be much harder to achieve than smaller ones From Startup Secrets workshop on “Have you got what it takes?” Jon Hirschtick, founder Solidworks, Onshape
- 14. Proprietary and Confidential The only difference between vision and hallucination is two letters: P.O. (Purchase Order) P.O. (PURCHASE ORDER)
- 15. Proprietary and Confidential Agenda: Culture Vision / Mission Value Prop People Execution Cultural Consistency Enduring Company Startup
- 16. Proprietary and Confidential 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
- 17. Proprietary and Confidential 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
- 18. Proprietary and Confidential Culture – example framework Shared Values • Beliefs • Guiding Principles Living • Leading • Modeling Executing • Responsibility, Accountability • Success & Failure
- 19. Proprietary and Confidential Values • Team First • Customer Second • Revenue per Employee Third • Have fun. Engage people. • Get results. Output matters. • Be cool. Be kind, and honest. • Be efficient – in person, in email, and in code.
- 20. Proprietary and Confidential Startup Secret: Culture Comes from YOU Comes from the top Is modeled CultureStartup Enduring Company
- 21. Proprietary and Confidential Startup Secret: Culture Comes from YOU Comes from the top Is modeled Is valued by consistency Cultural ConsistencyStartup Enduring Company
- 22. Proprietary and Confidential Jeff Bezos and the “door desk” which came to symbolize Amazon’s frugal culture
- 23. Proprietary and Confidential Can culture have a physical manifestation?
- 24. Proprietary and Confidential Physical Manifestation OFFICE CAN RAVE DESKS CAN ROLL DJ CAN ROCK
- 28. Proprietary and Confidential Can culture have a physical manifestation? Yes! • Office layout (open plan vs. cubes vs. offices) • Founders wall • Mascots • Etc. … think about what else represents your culture
- 29. Proprietary and Confidential Linking Culture & Execution DOING THE RIGHT THING VS. THE EASY OR OBVIOUS THING
- 30. Proprietary and Confidential FOCUS ON CUSTOMER SERVICE
- 32. Proprietary and Confidential New York, 9/11 => “the one way rental” FOCUS ON CUSTOMER SERVICE
- 33. Proprietary and Confidential Culture as a touchstone Fall back to it when there is no obvious • Answer • Direction • Priority Knowing what the RIGHT thing to do is…
- 34. Proprietary and Confidential Strong cultures… = values & principals people can RELATE to • Personalize • Internalize ENGAGE in • Act on NOT too abstract
- 35. Proprietary and Confidential Linking Culture & Execution
- 36. Proprietary and Confidential Vision, Mission & DNA
- 37. Proprietary and Confidential 37 The System: Shared Vision to Win! Leadership Principles Company Values Company Strategy Company Operating Plan Unit Operating Plan Execution Measurement Execution Results Unit Process
- 38. Proprietary and Confidential Vision: Breakthrough endpoint security that's strong, simple, fast & affordable Mission: To create a more secure world through superior protection that can be adopted by any organization to stop modern sophisticated attackers
- 39. Proprietary and Confidential © 2014 CYLENT Systems | Company Confidential 39 Our DNA • Inspire loyalty - We’re passionate about understanding our customers needs so that they achieve their goals. We’re easy to work with and we always have their back. • Play to win - We set ambitious goals and believe in them. We make and meet commitments, take ownership, and focus on what’s important. • Step up - We take charge of challenges and never blindly accept the status quo. • Get the facts - We drive decisions with data as our guide and course correct when we need to. • Be true - We tell it like it is, constructively, with a priority on listening. We earn each other’s trust and respect every day and always act with integrity. • Have fun - We attract exceptional people with a sense of humor who revel in the work they do
- 41. Proprietary and Confidential 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.
- 42. Proprietary and Confidential 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?
- 43. Proprietary and Confidential Culture Define it early, authentically, thoughtfully so it can endure • Try to find things to live by, model Don’t Pay Lip 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
- 44. Proprietary and Confidential “EVERYTHING [IN OUR STRATEGY] OUR COMPETITORS COULD COPY TOMORROW, BUT THEY CAN’T COPY THE CULTURE – AND THEY KNOW IT!” Herb Kelleher, co-founder
- 45. Proprietary and Confidential Do it right and you can build… An enduring company Vision / Mission Value Prop People Execution Cultural Consistency Enduring Company Startup
- 46. Proprietary and Confidential Company Formation Agenda: “Foundations for Building an Enduring Company” Part I (Tonight) • Vision • Mission • Culture Part II (See this link) • People Hiring – we do a deeper dive in this class Team Building
- 47. Proprietary and Confidential Complete Startup Secrets Workshops 1. Startup Roadmap 2. Building a Compelling Value Proposition 3. Company Formation 1 - Vision, Mission, Culture 4. Company Formation 2 - Hiring 5. Game Changing Business Models 6. Go To Market 1: Strategy 7. Go To Market 2: Tactics 8. Getting Behind the Perfect Investor Pitch 9. Funding Strategies to go the Distance 10. Turning Products into Companies 11. Have You Got What It Takes? Full descriptions of all can be found at: www.startupsecrets.com