mit idm lessons learned
TRANSCRIPT
OBLIGATORY BACKGROUND• Software engineer -> product + eng ->
company builder
• Started in Big Consulting, then medium-size pharma
• Serial entrepreneur: built and ran product/engineering @CarGurus, @HubSpot, @Happier, @Jana
• Advisor / investor in numerous companies
• Occasional slow runner, weird sports enthusiast
• Get in touch: www.YoavShapira.com
STARTUP1, DAY 1
• Imagine a nice late winter morning in the Harvard Square Starbucks
• Me: “I’m excited, let’s go to the office!”
• CEO: “Great idea! We need an office! Where would you like to work?”
CLEAN CANVAS• I quickly learned about commercial
real estate, leases, insurance.
• Bought and personally assembled a handful of IKEA desks.
• I don’t like assembling furniture. But I like starting companies from scratch because…
• You create the culture, the values, the norms from day 1.
• These matter more than product or go-to-market. They are your company.
SCRAPPINESS• A trait that I (and others) value highly.
• Equally important whether hiring colleagues or investing in founding teams.
• Scrappy does the best s/he can with limited resources (it’s a startup) without complaining.
• At scale, sometimes scrappy needs a new challenge or a replacement. This is a good problem to have.
• With an MIT (or similar) degree, you may need to prove you’re scrappy (still).
SUSTAINABLE ADVANTAGES• Remember that nearly
anything about a product can be copied, often quickly.
• Code, user interfaces are competitive advantages, maybe, but usually not sustainable.
• Speed of learning / iteration, however, is sustainable.
SPEED WINS
• Construct your culture, including every process, to minimize time through the loop.
• Learn about user research, split testing, etc, but also look hard at internal processes.
• Meetings, especially, are insidious time sucks.
WORTH THEIR OWN SLIDE• Time is the only true zero-sum game.
You can’t “grow the pie.”
• Be ruthless about it, but clear, consistent.
• Can you share knowledge asynchronously, e.g. via a wiki?
• Note: I’m talking about regular / recurring meetings. Ad-hoc time at a whiteboard / similar is excellent, encouraged.
• “Long twitch” vs “slow twitch” time
“I AM NOT A DESIGNER”• “I’m not a designer because I can’t draw
anything.” That’s overly simplistic, naive.
• Meetings, for instance, are designing people’s time, calendars, schedule.
• How do you react to a late Friday evening or early Monday morning meeting invitation?
• You will all be designing things at a startup: products, user experiences, etc.
• Just that the “user” might be a colleague, a job candidate, an external partner…
LEARN THE CRAFT• Spend time chatting with actual
designers and other specialists.
• Shadowing (or actual apprenticeship!) is under-rated in general.
• Take a support call, try to sell, do a user interview, build a screen, run a web split test, buy an ad…
• You don’t need to master the skill. Specialists still have value. But know enough to be credible, hire.
“LEVEL 5 LEADERSHIP”• Jim Collins “Good to Great”
concept. Maybe best part of book. (Much has aged poorly.)
• Read the whole definition, In particular :
• Set the target at building an enduring, world-class company
• When giving credit, look outside the window; when blaming, look in the mirror.
FIND YOUR TEAMMATES• I joined CarGurus and HubSpot for
people, not ideas.
• I’m OK with cars, OK with marketing people like, but neither was a passion or life-long interest
• I joined Happier and Jana for missions more than people.
• Missions don’t have bad days, but companies and people do.
• If I had to pick one, it’s people first.
TYPE II FUN?• Every single startup has many
days where it feels like it’s going to die.
• Some have wildly positive days, too.
• The rare successful one is a guaranteed rollercoaster.
• Don’t look for stability.
• Don’t do it because it’s this decade’s sexy job.
HIRING
• Everyone’s job & potential sustainable competitive advantage.
• Here, too, speed wins: pick target # total days per candidate, make it happen.
• Again data: track your funnel meticulously, split-test sources, ads.
• It’s hard, takes a long time.
• Religion, Pied Piper, etc.
RIDING THE ROCKETSHIP• If you’re lucky and the company
is growing, things will break often.
• Separate “high quality” or “good” problems from bad ones.
• Question conventional wisdom. Even old problems can be fixed in new ways.
• “Stay hungry, stay foolish.”
SMALL, AUTONOMOUS TEAMS• As small and autonomous as possible, so
they can move forward unhindered.
• Avoid inter-team dependencies as much as you can. They shackle everyone.
• Don’t just have a designer, engineer, and “business person.”
• Include whoever is generating revenue (e.g. sales), whoever is marketing, whoever is supporting the product, etc.
• At scale: Spotify’s squads maybe?
• Avoid “conventional” shared service teams
AUTONOMY, MASTERY, PURPOSE
• Watch Daniel Pink’s TED Talk or short video.
• This is the key to hiring and retaining the best people.
• Design your organization accordingly, be it a team, department, division, or entire company.
• Example: OKRs, budgets
SMALL, QUICK STEPS• Ship (software, processes,
and anything else you can) all the time.
• Continuous Delivery is magic.
• Forces the entire organization to have efficient processes and culture.
PAY IT FORWARD• The entrepreneurial
community is huge, active, and welcoming. Reach out!
• Help people however you can. It takes time, and it’s not always fun, but they remember.
• It’s also a small world. Reputation / karma matters.
FINALLY: BE TRUE TO YOURSELF
• Do what it takes to sleep well at night: a clear conscience is key.
• Don’t compromise on your values, be they personal or professional.
• When you do this consistently, you have zero regrets.
• This sounds cheesy, but it’s been crucial to me.
QUIKFORCE (THANKS @KEVIN)
• “Hiring movers has never been easier.”
• Simple site + app to describe your move, book movers quickly and easily.
• Rapid B2C growth, now receive B2B interest from corporate movers.
• Thoughts?
JANA (THANKS @KEVIN)• A current challenges: portal vs
constellation.
• Jana’s mission is to make the internet free for the next billion.
• Users in emerging markets, e.g. India, with (low end) smartphones.
• Browsing, messaging, photos, apps: make free in one place?
• “Chinese Mobile App UI Trends”