8/3/2019 CFI November 29 Cofounders Hiring and Firing_Bratton

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Alex Bratton, CEO & Chief Geek Of Lextech Global Services

Cofounders, Hiring and FiringThe most important decisions you will make for your business

G L O B A L S E R V I C E S

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In the beginning

G L O B A L S E R V I C E S

✤ Articulate a vision that capturesthe passion of the people youare looking to hire.

✤ Learn to sell the aboveeffectively. (Second City)

✤ Most important talent to sourcefrom day one is...

✤ How to decide if you need in-house vs. outsourcedengineering, marketing, etc.

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Do you need a cofounder?

G L O B A L S E R V I C E S

✤ Are you lacking a key skill orcompetency that is core to your business?

✤ Sharing the risk and rewards.

✤ Date before you get married.

✤ Vision of today and future must be 100% in sync.

✤ Induce fake chaos to gaugereaction to stress.

✤

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 What recruiting budget?

G L O B A L S E R V I C E S

✤ Get people to pay you to work there.

✤ Attend industry events to meetnew people.

✤ Steer clear of recruiting/staffingagencies who charge a % of every successful hire’s wages.

✤ Ask mutual friends forintroductions via LinkedIn.

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Conducting thorough interviews

G L O B A L S E R V I C E S

✤ Watch for negative gut reaction.

✤ LEGO Mindstorms todemonstrate ability to ramp upquickly with new technology.

✤ Group games, like HALO, toreveal communication andleadership skills.

✤ Let team test for culture fit.

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Conducting thorough interviews

G L O B A L S E R V I C E S

✤ Is the candidate comfortablewearing many hats?

✤ Compare your favoritecandidate to at least one otherviable candidate.

✤ Trial periods.

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Determining compensation

G L O B A L S E R V I C E S

✤ Variable compensation is thenew normal.

✤ There are some people youwon’t be able to afford andthat’s a good thing.

✤ Be very careful with equity.

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Setting expectations

G L O B A L S E R V I C E S

✤ Clear deliverables and desiredoutcomes with MEASURABLEsuccess criteria.

✤ Change is constant.

✤ Expectations are linked tocompensation.

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Measuring performance

G L O B A L S E R V I C E S

✤ Performance reviews > 2/yearwhile the business is small anddynamic.

✤ Metrics updated daily orweekly.

✤ Reward systems that encouragehigh performers.

✤ Culture that puts peer pressureon poor performers.

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Firing the slackers

G L O B A L S E R V I C E S

✤ If they’re wrong, they’re gone.

✤ Always have a 3rd party

present.

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Firing the slackers

G L O B A L S E R V I C E S

✤ You owe this to your highperformers. Promise a work environment where they will

not be burdened by theincompetence or laziness of others.

✤ Gets easier when you realize

what the wrong person iscosting you, your team and thecompany.