This document discusses the importance of culture, vision, and mission for startups. It notes that ideas are worth little without people to execute, a culture to empower people, and a vision to attract and unify stakeholders. The document then provides examples of company visions and missions, frameworks for defining culture through shared values and behaviors, and how physical manifestations and communication can reinforce culture. It emphasizes that culture should be defined authentically and consistently to help build an enduring company.

1. Startup Secrets:
Culture, Vision, and
Mission
6.14.19

2. Confidential & Proprietary @underscorevc
Startup Secrets
Workshops
2
1. What’s Your Roadmap to Success?
2. Building a Compelling Value Proposition
3. Turning Products into Companies
4. Culture, Mission and Vision
5. Hiring A+ Talent
6. Game-Changing Business Models
7. Go to Market Strategies
8. Getting Behind the Perfect Investor Pitch
9. Funding Strategies to go the Distance
10. Have You Got What It Takes?
11. Mastering Mutual Mentorship

3. Confidential & Proprietary @underscorevc
Vision / Mission
Value
Prop
People
Execution
Cultural Consistency Enduring CompanyStartup
Building an Enduring Company
3

4. Confidential & Proprietary @underscorevc
Why? Why are Vision,
Mission, and Culture
important to a startup?
4

5. Confidential & Proprietary @underscorevc
Many, many reasons. Simplified:
● Ideas are worth little to nothing without:
○ People to execute
○ Culture to select the right people and empower
them
○ Vision to attract, retain and unify all stakeholders
● Execution
○ Focus
○ Alignment
○ Empowerment
Why?
5

6. Confidential & Proprietary @underscorevc
Vision / Mission
Value
Prop
People
Execution
Cultural Consistency Enduring CompanyStartup
Agenda: Mission/Vision
6

7. Confidential & Proprietary @underscorevc
“Give everyone the power to
create and share ideas and
information instantly
without barriers.”
Twitter
7

8. Confidential & Proprietary @underscorevc
Vision: Impact
8

9. Confidential & Proprietary @underscorevc
○ How the market will evolve?
○ How will you will lead it?
Vision:
Development
9

10. Confidential & Proprietary @underscorevc
Mission?
10

11. Confidential & Proprietary @underscorevc
4 M’s of Mission Statements
○ Memorable
○ Manageable
○ Measurable
○ Motivational
Mission:
Development
11

12. Confidential & Proprietary @underscorevc
Kayak
“The Best Place to Plan
and Book Travel”
12

13. Confidential & Proprietary @underscorevc
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
13

14. Confidential & Proprietary @underscorevc
The only difference between vision and
hallucination is two letters:
P.O.
(Purchase Order)
14

15. Confidential & Proprietary @underscorevc
Vision / Mission
Value
Prop
People
Execution
Cultural Consistency Enduring CompanyStartup
Agenda: Culture
15

16. Confidential & Proprietary @underscorevc
For the techies among you:
● It’s like the Operating System for your Apps
● e.g., the Platform to empower your People
16
What is
Culture?

17. Confidential & Proprietary @underscorevc
Multi-faceted!
Simplified:
● It’s HOW you do business
● The organizational embodiment of things like:
○ Personality
○ Style
○ Heart & Soul
○ Sub conscience & conscience
What is
Culture?
17

18. Confidential & Proprietary @underscorevc
Culture:
Example
Framework
● Shared Values
○ Beliefs
○ Guiding Principles
● Living
○ Leading
○ Modeling
● Executing
○ Responsibility and Accountability
○ Success and Failure
18

19. Confidential & Proprietary @underscorevc
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.
19

20. Confidential & Proprietary @underscorevc
● Comes from YOU
● Comes from the top
● Is modeled
CultureStartup Enduring Company
Startup
Secret!
Culture:
20

21. Confidential & Proprietary @underscorevc
● Comes from YOU
● Comes from the top
● Is modeled
● Is valued by consistency
CultureStartup Enduring Company
Startup
Secret!
Culture:
21

22. Jeff Bezos and the “door desk,”
which came to symbolize Amazon’s
frugal culture.

23. Can Culture Have a
Physical Manifestation?

24. Confidential & Proprietary @underscorevc
Physical Manifestation
OFFICE CAN RAVE
DESKS CAN ROLL DJ CAN ROCK
24

25. Confidential & Proprietary @underscorevc 25

26. Confidential & Proprietary @underscorevc 26

27. Confidential & Proprietary @underscorevc 27

28. Confidential & Proprietary @underscorevc
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
28

29. Linking Culture &
Execution
DOING THE RIGHT THING
VS. THE EASY OR OBVIOUS THING

30. Confidential & Proprietary @underscorevc
Culture
as a
touchstone
● Fall back to it when there is no obvious
○ Answer
○ Direction
○ Priority
● Knowing what the RIGHT thing to do is…
33

31. Confidential & Proprietary @underscorevc
Strong
Cultures
Strong Cultures are values & principles people can:
● RELATE to
○ Personalize
○ Internalize
● ENGAGE in
○ Act on
NOT too abstract
34

32. Linking Culture &
Execution

33. Vision, Mission & DNA

34. Confidential & Proprietary @underscorevc
The System: Shared Vision to Win!
Leadership Principles
Company Values
Company Strategy
Company Operating Plan
Unit Operating Plan
Execution
Measurement
Execution
Results
Unit Process

35. Confidential & Proprietary @underscorevc
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
38

36. startupsecrets.comCulture, Mission, and Vision
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

37. Confidential & Proprietary @underscorevc
Comm-you-nication
40

38. Confidential & Proprietary @underscorevc
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, Stand-up Scrums, Town
Hall
○ Meetups, Customer Advisory Board, User
groups etc.
41

39. Confidential & Proprietary @underscorevc
Recognition
& Rewards
Reinforce
Culture
● Form, Substance Style
○ Form
■ What does it reinforce?
● e.g., Who comes to sales “club”?
○ If only salespeople, what does this say about
the rest of the org?
○ Substance
■ Alternatives to Stock / Money?
● Customize to the recipient
○ e.g., 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?
42

40. Confidential & Proprietary @underscorevc
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
○ e.g., Making acquisitions
■ It’s a good test for whether the acquisition is a
fit…
● Walk the talk
○ Defined by YOU, so lead by example
43

41. Confidential & Proprietary @underscorevc
“Everything [in our strategy] our
competitors could copy tomorrow, but
they can’t copy the culture -- and they
know it!”
Herb Kelleher,
Co-founder
Southwest Airlines
Southwest
Airlines
44

42. Confidential & Proprietary @underscorevc
Vision / Mission
Value
Prop
People
Execution
Cultural Consistency Enduring CompanyStartup
Do it right and you can build
an enduring company!
45

43. Confidential & Proprietary @underscorevc
Company
Formation
Agenda
“Foundations for Building an Enduring
Company”
● Part I (here)
○ Vision
○ Mission
○ Culture
● Part II (on startupsecrets.com)
○ People
■ Hiring – we do a deeper
dive in this class
■ Team Building
46

44. Startup Secrets:
Culture, Vision, and
Mission
6.14.19