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START UP SECRETS
An insider’s guide to unfair competitive advantage
Vision, Mission, CultureFoundations for Growth & Endurance
@underscorevc startupsecrets.com
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2startupsecrets.com Roadmap to Success @underscorevc
@underscorevc@mjskok#startupsecrets
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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