Ideas are worth very little without a culture to guide the selection of talent and a big, bold vision to attract and unify the team. Human capital is what separates great from good companies – which is why establishing a strong culture to attract and retain the right people, while unifying them behind an inspiring vision and mission is essential to any significant venture.
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START UP
SECRETS
An insider’s guide to unfair competitive advantage
Vision, Mission, Culture
Foundations for Growth & Endurance
@underscorevc
startupsecrets.com
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Have a Question? Tweet it!
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Building an enduring company:
Simplification:
Vision / Mission
Value
Prop
People
Execution
Cultural Consistency
Enduring
Company
Startup
3
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Why?
Many, many reasons. Simplified:
Ideas are worth little to nothing without…
• People to execute
• Culture to select the right people & empower them
• Vision to attract, retain & unify all stakeholders
Execution
• Focus
• Alignment
• Empowerment
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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
From Startup Secrets workshop on “Have you got what it takes?” Jon Hirschtick, founder Solidworks, Onshape
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The only difference between
vision and hallucination is two
letters:
P.O.
(Purchase Order)
P.O.
(PURCHASE ORDER)
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Culture: What is it?
For the techies among you:
It’s like the Operating System to run your Apps on
EG the Platform to empower your People
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Culture: What is it?
Multi faceted…
Simplified:
It’s HOW you do business
The organizational embodiment of things like:
• Personality
• Style
• Heart & Soul
• Sub conscience & conscience
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Culture – example framework
Shared Values
• Beliefs
• Guiding Principles
Living
• Leading
• Modeling
Executing
• Responsibility, Accountability
• Success & Failure
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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.
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Startup Secret: Culture
Comes from YOU
Comes from the top
Is modeled
Is valued by consistency
Cultural ConsistencyStartup Enduring
Company
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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
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Culture as a touchstone
Fall back to it when there is no obvious
• Answer
• Direction
• Priority
Knowing what the RIGHT thing to do is…
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Strong cultures…
= values & principals people can
RELATE to
• Personalize
• Internalize
ENGAGE in
• Act on
NOT too abstract
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The System: Shared Vision to Win!
Leadership Principles
Company Values
Company Strategy
Company Operating Plan
Unit Operating Plan
Execution
Measurement
Execution
Results
Unit Process
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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
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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, Standup Scrums, Town Hall
• Meetups, Customer Advisory Board, User groups etc.
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Recognition & Rewards Reinforce Culture
Form, Substance Style
• Form
What does it reinforce?
• EG who come to sales “club”?
Only sales people = what does this say about the rest of the org?
• Substance
Alternatives to Stock, Money?
• Customize to the recipient
EG 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?
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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
• EG Making acquisitions
It’s a good test for whether the acquisition is a fit…
Walk the talk
• Defined by YOU, so lead by example
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“EVERYTHING [IN OUR
STRATEGY] OUR
COMPETITORS COULD COPY
TOMORROW, BUT THEY CAN’T
COPY THE CULTURE – AND
THEY KNOW IT!”
Herb Kelleher,
co-founder
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Do it right and you can build…
An enduring company
Vision / Mission
Value
Prop
People
Execution
Cultural Consistency
Enduring
Company
Startup
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Company Formation
Agenda:
“Foundations for Building an Enduring Company”
Part I (Tonight)
• Vision
• Mission
• Culture
Part II (See this link)
• People
Hiring – we do a deeper dive in this class
Team Building
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Complete Startup Secrets Workshops
1. Startup Roadmap
2. Building a Compelling Value Proposition
3. Company Formation 1 - Vision, Mission, Culture
4. Company Formation 2 - Hiring
5. Game Changing Business Models
6. Go To Market 1: Strategy
7. Go To Market 2: Tactics
8. Getting Behind the Perfect Investor Pitch
9. Funding Strategies to go the Distance
10. Turning Products into Companies
11. Have You Got What It Takes?
Full descriptions of all can be
found at:
www.startupsecrets.com