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Proprietary and Confidential
START UP SECRETS
An insider’s guide to unfair competitive advantage
Company Formation: Hiring A+ Talent
@underscorevc startupsecrets.com
Proprietary and Confidential
Have a Question? Tweet it!
2startupsecrets.com @underscorevc
@underscorevc@mjskok#startupsecrets
Proprietary and Confidential
The most important capital = human capital
You are what you hire
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Why is this important?
startupsecrets.com @underscorevc
Proprietary and Confidential
A’s hire A’s
B’s hire C’s
C’s = Cost you your company
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Hire above your grade, never below
startupsecrets.com @underscorevc
Proprietary and Confidential
Making the wrong hire
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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 disorganizationThe MIT Sloan Review
Proprietary and Confidential
HiringIT’S ALL IN THE DETAILS…
Proprietary and Confidential
Assess 3 key things…
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EKS IQ
CQ
Attitude
Aptitude
Ability
Can they be successful at the job?
Will they really love the job?
Will they fit and reinforce?
Proprietary and Confidential
Can they be successful at the job?
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Do they have the EKS:• Experience• Knowledge• Skills
And where applicable, the IQ• Intelligence• Smarts
Proprietary and Confidential
Will they really love the job?
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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?
Proprietary and Confidential
My first interview question?
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What are you passionate about?
sometimes my ONLY question!
Proprietary and Confidential
Will they really love the job?
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Uncovertheir
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 reinforcingpositive virtuous cycle of success
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.”
Thomas A. Edison
Proprietary and Confidential
Another revealing question?
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What would you choose to do if
today was your last day of work?
sometimes my ONLY question!
Proprietary and Confidential
Hiring is more than a science…
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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…
Proprietary and Confidential
EQ: Emotional Quotient
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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
Proprietary and Confidential
Startup Secret: Hire for EQ, CQ
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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 TwitterWasserman, 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
Proprietary and Confidential
Example Interview Questions
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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?
Proprietary and Confidential
Startup Secret: Hire for EQ, CQ do QC
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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
Proprietary and Confidential
Everyone wants ‘A+’ Players
Proprietary and Confidential
Hiring A+ Players
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What does that really mean?
How can you apply it in practice?
Proprietary and Confidential
Startup Secret: Hire 3As
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Attitude
Aptitude
Ability
Note: Ability – is really the broader sense suitability for the job
Attitude
Aptitude
Ability
Proprietary and Confidential
Attitude
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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
Proprietary and Confidential
Startup Secret: Hire 3As, 3+s
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+ Aware (self)
+ Authentic
+ Athlete Attitude
Aptitude
Ability
Proprietary and Confidential
3 key things lead to the “Golden Traingle”
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EKS IQ
CQ
Attitude
Aptitude
Ability
Can they be successful at the job?
Will they really love the job?
Will they fit and reinforce?
Proprietary and Confidential
The tools
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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
Proprietary and Confidential
Summary
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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
Proprietary and Confidential
Proprietary and Confidential
250+ Warner Music Groupartist websites, 3 site templates, total creative freedom
Proprietary and Confidential
30K Concurrent visitors during Hurricane Sandy
Proprietary and Confidential
add whole foods
340 Unique digital experiences built on a common Drupal platform – empower store managers to personalize their store site
Proprietary and Confidential
Acquia HiringAcquia DNA Committed to Awesome Do the Right Thing Jump In and Own It Give Back More Inspire a Little Crazy
Proprietary and Confidential
Acquia Hiring
PIII Passion Integrity Intelligence Initiative
Proprietary and Confidential
3 Practical startup hiring tipsBECAUSE I HEAR THESE QUESTIONS ALL THE TIME
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
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”
Proprietary and Confidential
Tip 2: Balance youth and experience
Youth or Experience? YES!
Youth what’s possible?+Experience what to consider=Success balance
Proprietary and Confidential
Tip 3: Listen, don’t sell!
Find out what the candidate needs, wants, loves
Need
Want
?
Love
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
Need
Want
?
Love
Proprietary and Confidential
Hiring Questions & Interview Tips for the Perfect FIT
Proprietary and Confidential
3 Steps
3 steps
1. Questioning
2. Listening
3. Observing
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?
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 ?)
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?)
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.)
Proprietary and Confidential
Cultural Quality (CQ) QuestionsFor 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?
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?
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?)
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?
Proprietary and Confidential
My final questions:
What else should we know about you?
You will be amazed at what comes out!
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 ?
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
Proprietary and Confidential
T 617.303.0064 @underscorevc
53 State Street, 10th Floor, Boston, MA 02109, USA