Final startup grind

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Final startup grind

  1. Startups – How to Build Out Your Early TeamLessons from Both Sidesof the Table Mark Suster Startup Grind, February 2013 @msuster
  2.  Ex software developer (‘91)  BuildOnline (’99)  Koral /Both Sides Of The Table Salesforce.com (’05)  VC at GRP Partners (‘07)
  3. When You First Start “Co Founders”
  4. My Priorities When Funding Early-Stage Product Market Team
  5. Why is the Team So Important? Departures Departures Staff Staff FFEn undin En undin r vvrr i i oo gg nm meer toom n nmeen nt t Cusstctioon Cu a cti Reea R Shit happens. Shit happens. Great teams Great teams handle handle adversity better adversity better AA M bblil M ii onn Disasters Disasters tiitio oo tiy nn ty ti ee too PR eet titi t PR pp zeze m oom CC
  6. The Co-founder Mantra is a Sacred Cow in Silicon Valley – I Believe It’s Overplayedhttp://www.bothsidesofthetable.com/2011/05/09/the-co-founder-mythology/
  7. The Reality is That Over Time Many Founders Fight
  8. Huge Premium for Taking First Leap. Can HireCofounders with Large Equity & Keep Creative Control
  9. But I Know You’re Going to All Want Co-Founders So Just Make Sure You Understand Prenuptialshttp://www.bothsidesofthetable.com/2009/08/18/founders-ownership-and-stock-options/
  10. And Be Careful About Having Too Many Co-Founders: It’s the Largest Dilution You’ll Ever Face
  11. I Think VCs Care More About Not Having a Single- Point-of-Failure than Exact Cofounder Founding Situation or Economics
  12. Seed to A“Building the Early Team”
  13. Configuration of My Ideal Founding Team: CEO Plus 4-5 Engineers  Financially numerate CEO CEO  Product management  Ability to lead / hire CTO // CTO Senior Senior Architect Architect eng eng eng eng eng enghttp://www.quora.com/Startups/What-would-the-ideal-web-technology-start-up-team-be-composed-of
  14. Pet Peeves for Me  Don’t outsource your tech development  Don’t have a consulting firm build your core product  Don’t have tons of business people before you have product completed  Don’t overplay your advisory board. (I just care about your investors & management)http://www.bothsidesofthetable.com/2009/10/12/should-your-startup-have-an-advisory-board/
  15. Don’t Hire People All Like Yourself. Diversity in Startup Teams Matters
  16. Product Management: One of Most Underrated but Important Skills in a Startup design // design PM PM customer customer eng eng Solve functional problems  Capture requirements Architecture  Test value / determine whether customer will pay Performance  Competitor reviews Which tech stack to use?  Prioritizing roadmap Usability / process flows
  17. Many Investors Will Tell You to Bring on Experienced Team Early. Don’t.
  18. Hire People Who Punch Above Their Weight Classhttp://www.bothsidesofthetable.com/2011/03/17/whom-should-you-hire-at-a-startup-attitude-over-aptitude/
  19. Your First Sales Reps Should Be Evangelical & Consultative (versus relationship managers) Not Nothttp://www.bothsidesofthetable.com/2010/10/12/startup-sales-why-hiring-seasoned-reps-may-not-work/http://www.bothsidesofthetable.com/2010/04/08/journeymen-mavericks-superstars-understanding-salespeople-at-startups/
  20. Engineering needs three distinct management skills: people, process, & technology leadershiphttp://www.bothsidesofthetable.com/want-to-know-difference-between-a-cto-and-a-vp-of-engineering/
  21. Many Startups Have Too Many C’s. They Are Usually aFudge For Co-Founders to Feel Good About 1 Founder Becoming CEOhttp://www.bothsidesofthetable.com/2011/09/12/why-your-startup-doesnt-need-a-coo/http://www.bothsidesofthetable.com/2011/09/17/further-thoughts-on-startup-operations/
  22. Functional Responsibilities Help Better Divide Work & Make People Accountable. CEO CEO VP VP VP VP VP VP VP VP VP VP VP VPEngineering Engineering Product Product Sales Sales Marketing Marketing Finance Finance Biz Dev Biz Dev I am reluctant to see “president” or “COO”
  23. A to B Round(when you’re ready to scale)
  24. Most Founders Get Bogged Down in Minutiae. You Can Get Huge Benefit from an Office Manager who Doubles as an Adminhttp://www.bothsidesofthetable.com/2011/10/28/the-controversial-first-role-to-hire-after-your-a-round/
  25. Hire a VP of Finance – Look for Somebody Who Can Help with Ops, Legal, HR, Office Space, etc
  26. Board Construction  Limit number of VCs on the board  Be very careful about board observers. They are the equivalent of board members.  Limit management officially on the board – makes changes over time too difficult.  You can assign your founder seats to startup ceos if you’re worried about control (you control seat)  Strong industry independents on board – but make them write small checks to be committed.http://www.bothsidesofthetable.com/2009/10/14/when-the-board-of-a-startup-votes-theres-a-problem/http://www.bothsidesofthetable.com/2012/08/16/rethinking-board-observers-the-role-of-the-silent-observer/http://www.bothsidesofthetable.com/2012/08/15/should-you-really-sit-on-other-boards-when-youre-a-startup-founder/
  27. </Good Luck>Mark SusterStartup Grind , February 2013@msuster ; BothSidesoftheTable.com

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