VentureSpur Fall 2013 Mentor Workshop: Money's not the only thing you need to raise at a startup

1. PEOPLE
CAPITAL:
MONEY IS NOT
THE ONLY
THING YOU
NEED TO RAISE
AT STARTUPS
Mike Yonker, President, Learner Mobile
@theyonks/@learnermobile
VentureSpur Workshop
Fall 2013

2. “WHAT MATTERS IS NOT IDEAS, BUT THE
PEOPLE WHO HAVE THEM. GOOD PEOPLE
CAN FIX BAD IDEAS, BUT GOOD IDEAS
CAN’T SAVE BAD PEOPLE”
– PAUL GRAHAM

3. KNOW YOU
! Be self-critical!
! Be honest!
! Be authentic!
! What do you look for
when you hire
someone?!
Me

4. KNOW YOUR BRAND
! What’s Your Brand?!
• Mission!
• Vision!
• Values!
! Live it !
! When all else fails employees will
make daily decisions guided by it!

5. KNOW YOUR PARTNERS
Will they be there in the rain?
Would they be there, when in pain?
Will they work as hard as you?
Will they leave you holding poo?

6. BUILD A TEAM
! It takes all types!
• My first lesson!
• COMPAQ ’90!
• Briggs-Meyer Test!
! Do you really want your team to be
just like you?!
! Also stresses the need for empathy
and communication!
! Team = Cohesion = >Performance!

7. INTERVIEW WELL
! Job descriptions set expectations!
! Trick questions suck!
! Know what you’re hiring for!
• Skills!
• Experience!
• Core Values!
! Interview against their resume!

8. MEASURE SUCCESS
! Goals = Responsibility!
! Metrics = Accountability!

9. COMMUNICATE PRIORITIES
! Employees make tons of
decisions daily!
! Priorities guide those
decisions and allow for
autonomy!
! You’re all on an adventure
– it’s nice when you feel
like you’re in the same
boat, going to the same
destination!

10. PROVIDE GUARDRAILS
! No one likes to micro-manage!
• If you do, you have other problems!
! No one likes to be micro-managed!
• If they do, you have other problems!
! Set guardrails, like French parents!

11. LEAD, THEN MANAGE
! What Makes a Great Leader?!
! Management != Leadership!
• Counting value vs. Creating value!
• Circles of influence vs. Circles of power!
• Leading people vs. Managing work!
! Great Management = Operational
Efficiency!

12. REMOVE BARRIERS
#1 JOB OF GREAT MANAGERS IS
TO SET DIRECTION, REMOVE
OBSTACLES, AND ALLOW
EMPLOYEES TO RUN QUICKLY

13. DEAL WITH UNDERPEFORMANCE
! Harmful for everyone!
! Use informal
accountability!
! SHAKE on it!!

14. WORK != LIFE
! Great employees are going to work
long and hard!
! Encourage hobbies and vacation -
everyone needs an escape, incl. you!
! Think hard about company events!
• Do you want to ask more time?!
• Are you encroaching even more on their
personal/family time?!

15. SAY SORRY
! Professional
environment!
! Civility still applies!
! If you slip up, do
the same think
you’d tell your kids
to do!
My Wife

16. DO THE SIMPLE STUFF, IT MATTERS
! Provoke curiosity!
! Think like the best sales people!
• Ask questions!
• Listen, think, respond – 2 ears/1 mouth!
! Don’t interrupt!
! Everyone’s voice matters – have a parking
lot for ideas!
! Getting a raise wears off – take notice/say
thanks!

17. “CAUSE CHANGE AND LEAD;
ACCEPT CHANGE AND SURVIVE;
RESIST CHANGE AND DIE.”
– RAY NOORDA

18. QUESTIONS?

19. THANK YOU mike.yonker@learnermobile.com
@theyonks/@learnermobile