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START UP SECRETS

An insider’s guide to unfair competitive advantage

Vision, Mission, CultureFoundations for Growth & Endurance

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Building an enduring company:Simplification:

Vision / Mission

Value Prop

People

Execution

Cultura l Consistency Enduring Company

Startup

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Why? Why are Vision, Mission, Culture important to a startup?

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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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Agenda: Vision / MissionVision / Mission

Value Prop

People

Execution

Cultura l Consistency Enduring Company

Startup

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“Give everyone the power to create and share ideas and information instantly without barriers”

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Vision impact?

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Vision – development…

Vision• How the market will evolve?• How will you will lead it?

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Mission?

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Mission – development…

4 Ms of Mission Statements*• Memorable• Manageable• Measurable• Motivational

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Kayak Mission

“THE BEST PLACE TO PLAN AND BOOK TRAVEL”

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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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Agenda: CultureVision / Mission

Value Prop

People

Execution

Cultura l Consistency Enduring Company

Startup

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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

CultureStartup Enduring Company

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Startup Secret: Culture

Comes from YOU Comes from the top Is modeled Is valued by consistency

Cultura l ConsistencyStartup Enduring Company

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Jeff Bezos and the “door desk” which came to symbolize Amazon’s

frugal culture

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Can culture have a physical manifestation?

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Physical Manifestation

OFFICE CAN RAVE

DESKS CAN ROLL DJ CAN ROCK

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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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Linking Culture & ExecutionDOING THE RIGHT THING VS. THE EASY OR OBVIOUS THING

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FOCUS ON CUSTOMER SERVICE

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SH** HAPPENS!

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New York, 9/11 => “the one way rental”

FOCUS ON CUSTOMER SERVICE

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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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Linking Culture & Execution

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Vision, Mission & DNA

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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

Com

mun

icatio

nUnit 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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Our DNA• Inspire loyalty

- We’re passionate about understanding our customers needs so that they achieve their goals. We’re easy to work with and we always have their back.

• Play to win - We set ambitious goals and believe in them. We make and meet commitments, take ownership, and focus on what’s

important.

• Step up- We take charge of challenges and never blindly accept the status quo.

• Get the facts- We drive decisions with data as our guide and course correct when we need to.

• Be true - We tell it like it is, constructively, with a priority on listening. We earn each other’s trust and respect every day and always

act with integrity.

• Have fun- We attract exceptional people with a sense of humor who revel in the work they do

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Commyounikation

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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

Cultura l 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 Workshops1. Startup Roadmap2. Building a Compelling Value Proposition3. Company Formation 1 - Vision, Mission, Culture4. Company Formation 2 - Hiring5. Game Changing Business Models6. Go To Market 1: Strategy7. Go To Market 2: Tactics8. Getting Behind the Perfect Investor Pitch9. Funding Strategies to go the Distance10. Turning Products into Companies11. Have You Got What It Takes?

Full descriptions of all can be found at: www.startupsecrets.com