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Startup Secrets - Hiring A+ Talent

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We all know a company is only as good as its team, which is why the hiring process is so critical as you build out your venture.

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Startup Secrets - Hiring A+ Talent

  1. Proprietary and Confidential START UP SECRETS An insider’s guide to unfair competitive advantage Company Formation: Hiring A+ Talent @underscorevc startupsecrets.com
  2. Proprietary and Confidential Have a Question? Tweet it! 2startupsecrets.com@underscorevc @underscorevc @mjskok #startupsecrets
  3. Proprietary and Confidential  The most important capital = human capital  You are what you hire 3 Why is this important? startupsecrets.com@underscorevc
  4. Proprietary and Confidential  A’s hire A’s  B’s hire C’s  C’s = Cost you your company 4 Hire above your grade, never below startupsecrets.com@underscorevc
  5. Proprietary and Confidential Making the wrong hire 5startupsecrets.com@underscorevc When you make the wrong hire and lose people, you lose…  What they know  Who they know $25.05B/year in costs associated with knowledge loss from just 1% of employees  As a startup, your organization risks disorganization The MIT Sloan Review
  6. Proprietary and Confidential Hiring IT’S ALL IN THE DETAILS…
  7. Proprietary and Confidential Assess 3 key things… 7startupsecrets.com@underscorevc EKS IQ CQ Attitude Aptitude Ability  Can they be successful at the job?  Will they really love the job?  Will they fit and reinforce?
  8. Proprietary and Confidential Can they be successful at the job? 8startupsecrets.com@underscorevc  Do they have the EKS: • Experience • Knowledge • Skills  And where applicable, the IQ • Intelligence • Smarts
  9. Proprietary and Confidential Will they really love the job? 9startupsecrets.com@underscorevc  Can you find people’s passion? • If people love what they do, they tend to do it well • If they do it well, they tend to be successful  Can you • Find a fit for what they love to do? • Set them up for success?
  10. Proprietary and Confidential My first interview question? 10startupsecrets.com@underscorevc What are you passionate about? sometimes my ONLY question!
  11. Proprietary and Confidential Will they really love the job? 11startupsecrets.com@underscorevc Uncover their Passion Love it Do Well Success Reward People who are really passionate about their work tend to love what they do, take pride in it, and the results and rewards all follow. This creates a self reinforcing positive virtuous cycle of success
  12. Proprietary and Confidential It doesn’t have to all be about work… “I never did a day’s work in my life. It was all fun.” ThomasA. Edison
  13. Proprietary and Confidential Another revealing question? 13startupsecrets.com@underscorevc What would you choose to do if today was your last day of work? sometimes my ONLY question!
  14. Proprietary and Confidential Hiring is more than a science… 14startupsecrets.com@underscorevc Beyond, EKS, IQ…  Think about what will set someone up for success in your situation / team / organization • Street smarts vs. Book smarts? • Judgment vs. Intellect? • Effort vs. Ability?  Think about how to find a FIT…
  15. Proprietary and Confidential EQ: Emotional Quotient 15startupsecrets.com@underscorevc  Inter-personal skills, connections & relationships are vital in a startup  3 Examples: • “Speed teaming”  Form and re-form rapidly – e.g. around problem solving  Cross functional and interdisciplinary teams often best • Customer intimacy  Often vital in product development, support etc. • Leverage: building relationships with key stakeholders  Shareholders – for strong investor support  Suppliers – for faster time to market  Partners – for leveraging other’s capabilities
  16. Proprietary and Confidential Startup Secret: Hire for EQ, CQ 16startupsecrets.com@underscorevc  EKS: Experience, Knowledge, Skills  IQ: Intelligence Quotient  EQ: Emotional Quotient • Fit with your team etc  CQ: Cultural Quality • Fit with your values etc “the fit between personalities was so much more important than just finding people who were very good” Dick Costolo, Former CEO Twitter Wasserman, Noam (2012-03-25). The Founder's Dilemmas: Anticipating and Avoiding the Pitfalls That Can Sink a Startup (Kauffman Foundation Series on Innovation and Entrepreneurship) (p. 216). Princeton University Press
  17. Proprietary and Confidential Example Interview Questions 17startupsecrets.com@underscorevc  IQ • What is the most relevant experience, knowledge or skill you bring to this job? • What is your favorite example of a problem you’ve solved, and how did you solve it?  EQ • What are you most proud of in your work interactions? • What is it that you relate to in our company?  CQ • What do you value most? • What have you most enjoyed in your previous jobs?
  18. Proprietary and Confidential Startup Secret: Hire for EQ, CQ do QC 18startupsecrets.com@underscorevc  EKS: Experience, Knowledge, Skills  IQ: Intelligence Quotient  EQ: Emotional Quotient • Fit with your team etc  CQ: Cultural Quality • Fit with your values etc  QC: Quality Control • Is each hire additive or dilutive to your culture? • Is each hire multiplying or dividing your culture
  19. Proprietary and Confidential Everyone wants ‘A+’ Players
  20. Proprietary and Confidential Hiring A+ Players 20startupsecrets.com@underscorevc  What does that really mean?  How can you apply it in practice?
  21. Proprietary and Confidential Startup Secret: Hire 3As 21startupsecrets.com@underscorevc  Attitude  Aptitude  Ability Note: Ability – is really the broader sense suitability for the job Attitude Aptitude Ability
  22. Proprietary and Confidential Attitude 22startupsecrets.com@underscorevc Examples of what to look for:  Problem solving • Fail fast, learn faster  Persistence • To get to the root of the problem, issue, or opportunity  Participation • Team
  23. Proprietary and Confidential Startup Secret: Hire 3As, 3+s 23startupsecrets.com@underscorevc + Aware (self) + Authentic + Athlete Attitude Aptitude Ability
  24. Proprietary and Confidential 3 key things lead to the “Golden Traingle” 24startupsecrets.com@underscorevc EKS IQ CQ Attitude Aptitude Ability  Can they be successful at the job?  Will they really love the job?  Will they fit and reinforce?
  25. Proprietary and Confidential The tools 25startupsecrets.com@underscorevc EKS IQ CQ Attitude Aptitude Ability  EKS • Resume  Interviews  IQ • Proof, e.g.  Problem solving • e.g. engineers – code  CQ • Interactions, observation  Trust the process
  26. Proprietary and Confidential Summary 26startupsecrets.com@underscorevc  EKS, IQ = can they be successful at the job? • Check with REAL references  CQ, EQ (Cultural Quality) = will they fit & reinforce? • Do QC (Quality Control) for additive vs. dilutive to your culture  Uncover their Passion = will they really love the job? • Separate from needs  Golden Triangle = all the above and A+ players: • Look for 3As: Attitude, Aptitude, Ability +++ Aware, Authentic, Athlete
  27. Proprietary and Confidential
  28. Proprietary and Confidential 250+ Warner Music Group artist websites, 3 site templates, total creative freedom
  29. Proprietary and Confidential 30K Concurrent visitors during Hurricane Sandy
  30. Proprietary and Confidential add whole foods 340 Unique digital experiences built on a common Drupal platform – empower store managers to personalize their store site
  31. Proprietary and Confidential Acquia Hiring Acquia DNA  Committed to Awesome  Do the Right Thing  Jump In and Own It  Give Back More  Inspire a Little Crazy
  32. Proprietary and Confidential Acquia Hiring PIII  Passion  Integrity  Intelligence  Initiative
  33. Proprietary and Confidential 3 Practical startup hiring tips BECAUSE I HEAR THESE QUESTIONS ALL THE TIME
  34. Proprietary and Confidential Tip 1: Hiring known quantities… Just hire people you know & have worked well with in past? YES • proven teaming, fit “startups that relied relatively heavily on the founders’ personal networks received valuations that were 37% higher than those received by startups that barely tapped the founders’ networks” -Wasserman
  35. Proprietary and Confidential Tip 1: Hiring known quantities… Just hire people you know & have worked well with in past? YES • proven teaming, fit NO • every situation is different  “vs. it worked like this in the past!” • diversity of background can be good  “think different”
  36. Proprietary and Confidential Tip 2: Balance youth and experience Youth or Experience? YES! Youth what’s possible? + Experience what to consider = Success balance
  37. Proprietary and Confidential Tip 3: Listen, don’t sell!  Find out what the candidate needs, wants, loves
  38. Proprietary and Confidential Tip 3: Listen, don’t sell!  Find out what the candidate needs, wants, loves  And FIT it to a position you have
  39. Proprietary and Confidential Hiring Questions & Interview Tips for the Perfect FIT
  40. Proprietary and Confidential 3 Steps  3 steps 1. Questioning 2. Listening 3. Observing
  41. Proprietary and Confidential Cultural Quality (CQ) Questions  What are you passionate about? • What is the most fun you’ve ever had?  (Intentionally open to understand work / life passions / balance)  What have you most enjoyed in your previous jobs?  What do you love doing day-to-day?  (What would an ideal day look like?)  If you could have changed one thing at your previous/current job, what would it be?  (Also - listen for why the person didn’t change it)  What is it you think you’ll enjoy most about this job?
  42. Proprietary and Confidential Cultural Quality (CQ) Questions Aspirations  What do you aspire to in life? • How are you pursuing them?  What do you want or feel you need to learn? • (To achieve those aspirations) • (Listen for difference between want and need)  What legacy do you hope to leave? • (What do you hope to be remembered for ?)
  43. Proprietary and Confidential Cultural Quality (CQ) Questions Values  What values do you believe in? • How do you live those values?  What do you value most?  Personalize remaining questions for your values • (e.g. What does Trust mean to you?)
  44. Proprietary and Confidential Cultural Quality (CQ) Questions Other  What does balance mean to you in your life?  What else do you love about you life? • (Listen for consistency in outside interests with answers regarding work ethics, style etc.)
  45. Proprietary and Confidential Cultural Quality (CQ) Questions For Managers:  What does management mean to you? • (e.g. What is the role of management?)  What environment do you like to create?  How do you like to be treated? • (Compare with answer to previous question)  Who comes first, your customer or your team?  Do you judge by effort or results?  What do you celebrate/reward?  What do you trust and what do you verify?  If you were hiring me for this job, what other questions would you ask of me?
  46. Proprietary and Confidential Emotional Quotient (EQ) Questions  What do people think of you? • How accurate is their perception?  How do you feel you still need to develop personally? (Look for self respect and yet self awareness)  What work relationships are you most proud of and why?  What are examples of work interactions you are most proud of and why?  What have you learned from your best and worst work relationships?  What is it that you relate to in our company?
  47. Proprietary and Confidential Emotional Quotient (EQ) Questions For Managers  How would people describe your management style? • (Compare with the CQ manager answers)  How do you like to be treated? • (Consistent with how you treat others?)
  48. Proprietary and Confidential Intelligence Quotient (IQ) Questions NOTE: there are many sources of these and they need to be specific to the job. Try to find practical instantiations and real world tests.  What is the most relevant Experience, Knowledge or Skill (EKS) you bring to the job?  How do you experiment?  In your previous role(s), what did you learn, prove and act on?  What are examples of problems that arose and where did they lead you?  What is your favorite example of a problem you’ve solved, and how did you solve it?
  49. Proprietary and Confidential My final questions: What else should we know about you? You will be amazed at what comes out!
  50. Proprietary and Confidential 3 Steps to discern 3 things…  3 steps 1. Questioning 2. Listening 3. Observing  Can you hear and separate what your candidate • needs ? • wants ? • loves ?
  51. Proprietary and Confidential My purely personal tips…  Agree your agenda • “Get to know you” first  (You are looking for CQ, EQ) • Then evaluate IQ  Break down EKS  Help the interviewee get comfortable and enable them to be authentic  If necessary take them for a walk or get out of the office  Leave time to be questioned • Learn from what is asked of you
  52. Proprietary and Confidential T 617.303.0064 @underscorevc 53 State Street, 10th Floor, Boston, MA 02109, USA

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