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Reference calls. Whether you’re considering hiring a new employee or as an investor whether you’re looking to do a background check on the founders of a company. Ask for at least 5 references. As your candidate for at least 5 references. Ask for at least 5 references. We all have to make them.
After analyzing hundreds of posts on startup management, I’ve distilled the key pieces of advice that founders and leaders should keep in mind. Team Building Anatomy of a Reference Check : Then get out of their way. As startups scale, effective management becomes the difference between chaotic growth and sustainable success.
One is “tentpole company,” or a category-defining startup that helps put their hometown on the map, both for investors and future generations of founders. Internally, we’ve begun using the term “founder-market-geography fit” to describe this idea. What is Founder-Market-Geography Fit? Let’s get into it.
With Meredith I did every on-reference-sheet call I could make and many off-reference-list calls. I followed my playbook on reference calls making sure to ask both positively worded as well as skeptical questions.
Not in the “founder friendly” culture of tech anyway. An examination of several high profile stories this past year about female CEO issues lays bare the other reason: It’s not “founder friendly.” It’s male founder friendly. Founders have to reckon with that. Travis should hire her back?? He should have been long gone.
I first met Andrew Stalbow , the founder & CEO of Seriously in August of 2013. and Petri was co-founder and head of creative at Remedy Entertainment that launched the hit PC games Max Payne and Alan Wake. I think this is a Seriously great example of how this process works for at least one VC – Upfront Ventures.
The Future Africa Fund kicked off in 2015 when Iyinoluwa Aboyeji and Nadayar Enegesi , co-founders of US-based and African-focused talent company Andela, wrote checks to African startups as angel investors. Syndicate leads are often experienced angel investors or successful startup founders. The nitty-gritty details.
Back to Mr. Christensen, “We subsidize their education in fields for which there are no jobs” he said in referring to the fact that many courses at universities are still taught with skills that aren’t relevant to the 21st century needs of the US workforce. We had a brief chat on his views of “Freemium.”
We gathered 50 founders from across the country for 36 hours of connection and candor in Alexandria, VA, and no surprise: We left inspired. We believe place matters, and that there’s no substitute for meeting founders where they are, in the ecosystems they’re building within.
When you look at a deal so much of what you’re trying to understand are the skills, resiliency , work ethic, motivation and team dynamics of the founders. Nothing blows up great opportunities faster than founders who are constantly fighting. The best way – of course – is to reference check. Startups are hard.
Dreamit Urbantech Managing Director Andrew Ackerman recently sat down with Jeff for a wide-ranging conversation on real estate tech, and a large part of that conversation focused on what founders can do to successfully raise venture capital from real estate tech investors. Does the founder know how to sell into real estate?
Partnering with the right co-founder is the biggest determinant of your future success. Having founded multiple startups across various industries, I firmly believe having the right co-founder(s) is the most significant determinant of startup success. A co-founder is someone you’ll practically be married to (time commitment-wise).
Natasha Miller is an EO member in Los Angeles, and founder and Chief Experience Designer of Entire Productions , which designs, plans and produces incredible event experiences both virtually and in person. But as a founder and CEO, where can you learn such skills while simultaneously hustling to grow your company?
Co-founder discontent. You can’t reference check your way into a “yes.” Reference checking is to confirm or disprove a strong, positive intuition you already have about founders that could lead to an investment or a pass. What would this founder do if he got an offer to be acquihired quickly by Facebook?
Contributed by Kym Huynh, an EO Melbourne member, EO Global Communications Committee member, and co-founder of WeTeachMe. However, I find myself referring to and using them when I conduct staff interviews as they encapsulate the qualities we look for in team members. Ai-Ling Wong, EO Malaysia and founder of The Decorateur.
I often speak about co-founder fighting and how this ends in lawsuits but this has become much more prevalent. I’d encourage you to watch this quick 3-minute video with some views on what I call “ The Co-Founder Mythology ” that is perpetuated in Silicon Valley. Lawsuits are particularly common amongst co-founders.
and of course a relentless pursuit of helping founders succeed. So mostly we just had to listen to customer feedback from founders, VCs and LPs. She made the right decisions not joining back then because that founder empathy is the “++” that makes a difference in this business. So why now?
Founders don't start companies so they can spend half their time asking people for money and VCs don't love the dance either. It's fine if you want to learn about blockchain or you never do pre-product and maybe the founder will oblige your curiosity at some point, but right now, they need cash, so don't waste their time if chances are 0%.
Specifically what is often not in the DNA of founders are sales skills. Founders think in options. They like a solid product, well defined pricing, good references to sell against, a clear quota and well defined competitors. Customer also buy social proof because others are acting as strong references. Here are mine.
When you’re hiring most reference checkers focus on the person’s former bosses. Just literally this week I had breakfast with a guy giving a reference who said, “He’s brilliant. Our founder, Yves Sisteron, was my mentor and board member at my first startup. In many ways that can be way more telling.
The 1K project was built by Alex from NYC, Minda from Seattle, and a group of over 20 volunteers consisting mostly of tech founders. If you decide to participate, you will be asked who referred you. Today, I would like to highlight The 1k project. The support is standardized at $1k per month for three months. I joined here.
If you’re a company’s founder in an early market, you know how hard it can be to cross the chasm between early adopters and mainstream customers. Early markets are by no means easy to tackle, so in this post, I’ll discuss seven tips that will help founders navigate these difficult waters. The bottom line.
Given the shifting landscape, it’s helpful for you as a CEO and/or founder—or for your finance and capital markets teams, if you have those hires to help you through this process—to know who the key players are at each stage so you can spend your time and energy speaking to the right firms. small business loans for their customers).
Because I''m in my market and in the flow of top teams and networked with the right folks, I''m never more than a character reference away through someone I trust and know well to just about all of the people I''ve backed. They''re not well networked and all of the founders they meet essentially start out as strangers out of the blue.
Founders should think of three primary documents as their “holy trinity”: the deck, the strategy memo and the forecast model. I have also heard it referred to as a “narrative deck” — basically a detailed, written version of your pitch. I see the deck almost as a derivative of the strategy memo.
Contributed by Michael Roderick, a recent EO 360° podcast guest and the founder and CEO of Small Pond Enterprises , which helps coaches and consultants make their brands referable, their messaging memorable, and their ideas unforgettable. I like to refer (ha ha) to these people as “referability partners”.
Curtis Fonger and Matthew Busel met on YC’s Co-Founder Matching (CFM) Platform, a tool we built to help co-founders find each other. Even in early conversations, their fit as co-founders was clear to each of them. What brought you to YC’s Co-Founder Matching Platform?
I wonder sometimes if founders even know about the hours their lawyers or advisers put in on evenings, weekends, vacations. I had dinner with my friend Brooke Hammerling , founder of Brew PR recently. Coincidentally my good friend Roger Ehrenberg wrote a post this past week on founders having trust in their VCs. VENTURE CAPITAL.
What To Look For When Reference Checking Polarizing Entrepreneurs There are certain words I don’t want to hear when doing backchannel references on a startup CEO. Or those special little bombs of a phrase like “enjoys playing founder more than being one” and “tells a good story but no follow-through.” Sketchy would be one.
We used Dumbo as a reference and talked about how the critical mass of Two Trees buildings created a neighborhood with multiple destinations. It was a happy accident when I got back into NYC VC in 2009 that I just happened to find the Ace Hotel--a space that was really conducive to meetings and founders working on projects.
We live in interesting times where working at a startup is glamorized to the point that many founders even refer to their team members as “rock stars,” which to my ears is cringe worthy. Great programmers are artists, for sure, but rock stars is about the last definition I’d choose.
We refer to people as "great entrepreneurs" in the startup community all the time--but are they? How many founders have made hires, especially consultants, who were supposed to be great that didn't turn out to be? That brought up the question of what makes someone truly great at something.
Smart founders use this extra resource to their advantage. Great networking skills, which are critical when you want to be about to reference entrepreneurs & concepts and bounce your ideas off of other people in the industry. Just ask Rob Bailey.
When I did my customer reference calls with some of the largest corporate buyers in the country who have adopted Tact I heard the same narrative repeatedly “We use CRM tools but our mobile workforce always struggled with adoption. I would be remiss if I didn’t point out that our other investor is Subrah Iyer , the founder of WebEx.
Don’t even bother to try to win a deal where you don’t have good personal chemistry with the founder/CEO. Instead of references, I like to give a list of every entrepreneur I’ve ever worked with and an email address. If you don’t have a great personal connection, you won’t win the deal.
In marketing materials founders often refer to their customer base as a “community”, but there’s a huge gap between having customers and creating a community. they could invest in entrepreneurial communities and the best founders would then bring in new founders. It’s no wonder they’ve both performed so well.
Contributed to EO by Saul Simon, a certified financial planner, a registered representative of Lincoln Financial Advisors and founder of Simon Financial Group. We are often referred to as the Sandwich Generation—caught in the middle between aging parents and children.
Ahuja is a serial entrepreneur, co-founder at X10 and founder of Byond Travel. The term 2nd City Office refers to a team in another city that mirrors the culture, setup, processes and governance of the home office. For reference, Uber now has a 1,000-member engineering team in Bangalore. Written for EO by Vikram Ahuja.
As the founder and CEO of AmberMedia —a media company based in Berlin, Germany—Karsten has been working toward carbon neutrality for a decade. Carbon neutrality , often referred to as “CO2-neutrality” or “net-zero carbon,” is the balance between emitting carbon and absorbing carbon from the atmosphere. .
During this period Kobie worked closely with many SaaS companies including ExactTarget from its early days and the Founder & CEO, Scott Dorsey, served as a strong reference for Kobie. With one single arc he had the chance to experience two great firms with distinct cultures and working practices and did all of this in his 20s.
This obviously doesn’t scale once the founder can’t be in every sales meeting. In the first half of your meeting you get the customer talking about his or her pain points (which I covered in the first post) by showing them references and then asking whether they find they have similar issues as your other clients in their sector.
Local SEO refers to an optimization strategy focused on getting your business to appear in the top three results on Google Maps when people search for solutions on the web. Contributed to EO by Victor Blasco, an audiovisual designer, video marketing expert, and founder/CEO of the explainer video production company Yum Yum Videos.
A Forum, which is also often referred to as a Mastermind, is a group of peers who meet regularly, with the goal of helping each member improve personally and professionally. Almost 10 years ago, I had my first experience with a professional Forum when I joined Entrepreneurs’ Organization. It can often create a better outcome for everyone.
After all, it’s something they recommend founders do. I’d often refer to this as figuring out what the “eleven out of ten” was for any given situation. It wasn’t until recently that I realized the reference was lost on most of my younger clients. In fact, why wasn’t he just putting a term sheet on the table now?
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