Hiring and firing 11 29-2011 chicago
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Topic covered for Founder Institute. Chicago 2011
Transcript of Hiring and firing 11 29-2011 chicago
Successful leaders are not necessarily the ones with the greatest vision, or the most winning personality.
They are ones who actually do what they say they are going to do and execute on their goals.
This is why people trust good leaders and follow them willingly.
“Management is doing things right; leadership is doing the right things.” Who? Peter Drucker
Leadership
Do you want to be a leader?
What makes a good leader?
Read books- Learn-
Study Successes and failures!
Why make the same mistake someone else has already made?
Have a vision, goal, and ability to articulate it
What is your Vision?
How well can you articulate where you are going?
What are your goals?
Are they big enough for others to follow?
What are your Strengths?
What are your weaknesses?
What do you need to be successful?
Is Focus Important?
Is Planning Important?
Your greatest ___Strength___,
Is your greatest___Weakness___
A Ceo’s job is to
___Raise Money__
And
___Hire People______
When you recruit or hire someone, you hire ___UP ___
Business Architect- One who has the vision to create and idea, know what it should look like in the end, and can then create the team to see the vision to reality.
Similar to building a building, (plumbers, electricians, roofers, foundation) the execution is best accomplished by the experts that are smarter than you are- in their given field of expertise- Recruit up!
Vision/Direction
Strategy
Team RecruitingTechnology
OperationsFinance
BusinessDevelopment Marketing
Sales
Vision/Direction: You must create the finished product in your mind. Have a picture or clear goal of what you want it to look like at the end. Similar to an architect- have the vision- then find the people
Technology: These are the builders, programmers, and infrastructure people.
Strategy/Execution: Are you a Skyscraper or Warehouse? Would you build a building without good blue prints? How good is your business plan? What are your goals and strategies. Why WON’T your idea work? Find people who have done it before.
Finance: If you are weak in the numbers, be strong in the books.
Marketing: Define your message, have consistent terminology, think “WIFU”-what’s in it for you- the customer
Business Development: Finding new customers, creating relationships, staying abreast of competition. Not always a sales person or closer, but one to generate activity.
Sales: Find a CLOSER! Sales is about closing your deals, getting customers, producing revenue, and shooting at the elephant until it’s yours!
Operations: The gears of the company, don’t discount the importance of someone who can coordinate the team, make sure things are getting done, and direct projects.
Team Recruiting: Know your strengths and weaknesses. Realize the important areas for your company. Build a diverse “advisory” board of people who are strong in all of these areas. For Management- sell a big enough vision for others to be a part of. Find people based on skill- not because they are like you and RECRUIT UP!
How do you quickly gauge someone?
Pace Palette test
Values-Joys-Strengths
Reds: Persistence, exciting, variety, honesty in values, directness, decisiveness, recognition motivated , dreamers
Yellows: Moral, family values, spiritual, structure, punctual, leadership, sharing, self esteem, determination
Blues: Friendly, family fun, animals, harmony, talkative, chameleon like
Greens: Independent, knowledge, new, exploring concepts
Aggravations- Irritations- Stressors Reds: Nit pickers, rules, negativity, lack of consideration, tardiness in others, noziness, gossip, bad listeners, waiting
Yellows: Unfairness, lack of compassion, unreliability, disorder, non performance, lack of time, rudeness, unprofessionalism, violence
Blues: Lies, unfaithful, opinionated, bossy, grudges, irresponsibility, lack of courtesy,
Greens: Incompetence, stupidity, poor workmanship, small talk, talking before thinking
Office Environment Reds: Trophies, plaques, pictures (important people-Adventure things), leadership books, adventure books, desk messy
Yellows: Organized, neat, books (leadership, policies, procedures), pictures-portraits, diplomas, certificates, phone-“is it legal”
Blues: Self help books, office messy, pictures-family, pets, offer you food/drink, friendly, phone-like to talk
Greens: Computer, electric gizmos, digital watch, computer books, phone-ask a lot of questions
Tasks: Climb a MountainReds: Let’s go!
Yellows: planning, what to bring, how long, how many
Blues: Great! Who’s going??
Greens: Scientists,, study in advance
Characteristics of 4 Temperaments
Which Type of Employees?
HERD
CRASH
DESTRUCTION
MURDER
Convocation!
A group of People brought together for a Special Purpose.
Don’t get enamored by BigTitles.
That usually means BigInfrastructure.
Four Quadrants of Time
Urgent Non Urgent
Important
Quadrant 1 Crisis
Pressing ProblemsDeadlines
Quadrant II Prevention
Relationship BuildingRecognizing Opportunities
Planning, Recreation
Not Important
Quadrant IIIInterruptions,
telephonemail, reports
meetingspopular activities
Quadrant IVtrivia, busy work
mail, email, internettime wasters
pleasant activities
Has the timeHas the backgroundHas the credibility
Not interested
Has the timeHas the interest
Has the backgroundHas credibility
Interest No Interest
Time
No Time
Meade’s Quadrant
Ask good questions
What is your greatest strength? Why do you think you would be a good fit here? What are their goals and dreams Find the REASONS!!!
My Favorites What did you like most about your last job? What did you like least? What would you alter or change if you could?
Ask the TOUGH! Questions
Hire…. Slowly,
And Fire…Quickly
Negotiate….
or people think they have more…
Beware of title creep
Value
Early and Often
People make decisions…Emotionally, And defend them …LogicallyIt’s not always about the..Money!!
Don’t get……..
Winklevoss’ed !!!!!!
People make decisions…Emotionally, And defend them …LogicallyIt’s not always about the..Money!!
Get your paperwork
Right1- NDA’s (confidentiality)2- IP Confidentiality and Ownership3- IP Assignment4- Don’t ever negotiate over email!(why write, when you can speak, why speak when you can simply nod)
Term Sheet for _______: Equity compensation as an Advisor and Interim President: As a current participant, Advisor will be granted stock in the following designations and for the following activities. 1% immediate grant for services as advisor and potential migration to President1% performance bonus for participation and successful closing of a sales opportunity within the next 60 days 1% performance bonus for successful closing of angel, seed or investment funding in an amount greater than $100,000 and secured within the next 45 days. 2% if amount exceed $250,000 within 60 days. 3% if equal to or exceeding $500,000 in 90 days. Responsibilities: If Advisor is available to move FULLTIME to the Company, Advisor shall assume the role and title of “President’, unless otherwise mutually agreed…… Responsibilities shall include but not be limited to; Salary and Equity compensation if executed move to President: $_____ per year. To be determined or discussed (contingent upon proper funding) Cash bonus to be determined Equity Compensation: An equity compensation in the amount of 30% of the current membership units of the xyz, and under the control of the Founder Stephen Meade, will be made available. The current capitalization is 5MM shares, of which 4,400,000 are with the Founder.Thus equity commitment for Advisor equals = 1,320,000 membership units Vesting and accelerator clause Upon full time employment, the stock compensation shall be vested quarterly over a 24 month period. A full employment agreement, stock option plan and documentation shall be provided. Employment agreement shall include full acceleration clauses.
Tornado TechniqueThe basis for everything
Realize most people don’t care aboutwhat you do, or don’t understand it.
1- What is the emotional value of what you do?(what are your benefits, how do you help)
2- What is the industry, genre, or type of customer?3- Names of companies you are trying to meet- Be
Specific! 4- Ask for the person who are you trying to get to-
be specific in terms of title, or name. Research and find the name of
EXACTLY who you want to meet.
Be Specific and don’t be shy!
“For Hiring”
Company is My WetRock We’ve created an environmental product called “the drop box” that can save
water , plastic, and power.
The goal is to save 10 Billion Gallons of water a month. We’ve created an employee engagement program where big companies buy the product from us and give it away to employees as a way to promote their environmental initiatives.
We’re dealing with companies from all industries like automotive, retail, hotels, etc.
Some companies were in discussion with are Starbucks, McDonalds, Shell, UPS, Dell, CGI (Clinton Global Initiative) and others.
Within those organizations, we deal with the Sustainability Director CSR (corporate social responsibility) or other Senior Executives.
Directly I’d like to meet Mike Duke, Venod Koshla, Alan Salzman, Doug Band, James Wolsey- people like that.
Is Isolation Important?
Picked SPECIFIC qualities in people
Took only the best
When is 300 better than 5000?
http://www.youtube.com/watch?v=BrBiatGrKc0
Don’t Give Up!
He went into debt when he was twenty-three, to become a partner in a small store. 3 years later his partner died, and left him in debt that took years for him to repay.
He dated a girl 4 years and, at the age of 28, asked her to marry him. She turned him down.
At 37 he was elected to Congress... on his THIRD try. He then failed to be re-elected. This man's son died when he was only 4 years old. At age 45 he ran for the Senate...and failed to be elected.
He persisted at politics and ran for the vice-presidency at 47 and again lost. Finally, at the age of 51, this man was _____________ His name is_______________
Build your own story-Find a Hero
Started as an Employee Had a great idea- no one believed Bought existing company Was $2 million in debt Started and grew locally Created a National Chain Is a Globally recognized brand
When times are tough- ask yourself, “what would _________do?”
What do you tell Others?
What is your belief? What are your goals? What is your conviction? What do you say when questioned on your
choices of being an entrepreneur? I am following my dream, have a chance
to change my family tree, retire my parents, send my nephew to school, and give back to society.
Yes, I may fail, but if I do, I can always go get a job…..and I’ll be just like _______!
A few of my great truths1- S-Your greatest strength, is your greatest weakness2- P- People do more to avoid pain than to gain pleasure3- E-People make decisions emotionally and defend them
logically4- D-If you say it- they doubt it. If they say it- it's true5- Q-Questions are the key to the Universe6- B-Begin with the end in mind7- 99% of the things we worry about never happen, so why
worry8- Remember the Three R’s- Recognition, Referrals, Revenue9- He who speaks first loses10- Ask not "why”, ask "why not"
SPEDQBN9
Bonus Slide
1- During an event, go to the Host and ask WHO you should meet. Use the tornado technique to explain what you NEED. The earlier the better.
2- Stand by the speakers AFTER the event. Listen to all of the questions asked and how they’re answered.
3- Do your homework in advance to see who will be at the event, who are speakers, who is in the paper or news, who is getting awards, who you need to know, etc.
4- Look for the most popular person at the event and meet them.
