TechChill 20115 - Growth challenges – from founder to ceo
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Transcript of TechChill 20115 - Growth challenges – from founder to ceo
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GROWTH CHALLENGES – FROM
FOUNDER TO CEOCristobal Alonso, TechChill Baltics 2015
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SHOULD YOU LISTEN TO ME ? Involved in more than 15 startups in many different roles Taken (or in the midst of it) 3 companies from seed
investment to Series A Grown companies to 20+ employees and 5+ countries Involved with Baltic startups since 2010 Believe some of my Baltic companies will be future
champions Love it and I care about your success but also enjoy the
ride
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THIS IS NOT EASY AND THERE ARE MANY CHALLENGES, BUT TODAY I WANT TO FOCUS ON AN SPECIFIC ONE
There are many challenges when it comes to growing a business;
Less obvious one is transition founder to CEO
Inevitable change, difficult one to deal with
Relinquish control & become more of a business supervisor is not easy
Transition a great idea to a great manager.
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BUILDING A STARTUP IS DIFFICULT – CONVERTING IT INTO A HIGH-GROWTH, SUSTAINABLE BUSINESS IS EVEN MORE DIFFICULT
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IT USUALLY STARTS THIS WAY
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BUT ONE DAY (HOPEFULLY) IT WILL BE LIKE THIS
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First of all decide whether 1. You want 2. You can / could
Do you have the skills to succeed ?
Many can survive and thrive provided certain aspects
SO WHAT ARE WE TALKING ABOUT ?
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AND THERE ARE 2 VERY DIFFERENT SCHOOLS OF THOUGHT – AKA DON’T BUY THE THEORY School 1 – Founder CEO ohhh yeahhh
School 2 – Professional CEO ohh yeahhh
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BUT LET ME BE CLEAR IF you don’t like • Communicating• Investors and stakeholders• Media• Finance • Hiring
THEN FORGET IT
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I WANT TO TOUCH UPON 6 POINTS
1.LET IT GO 2.EVALUATE YOURSELF & HIRE BETTER PEOPLE
THAN YOU 3.ADVISORS4.ORGANIZATIONAL STRUCTURE5.CULTURE 6.FUN
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LET IT GO MY FRIEND Let go least value added
responsibilities and you know best
Excitement, scare, empowerment, grow and vision
Can you let go of something you really like but you are not great ?
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LOOK INSIDE YOURSELF – BE BRUTALLY HONEST WITH YOU
Manager needs to develop a different skill set Honest, brutal assessment early employees’
strengths and weaknesses Devote significant time to hiring the right
people Recognize own limitations and hired to
support weaknesses. Devote most your time to company biggest
problems and opportunities Acquire skills, don’t change your personality.
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OR MAYBE JUST FOLLOW THE FOUNDER’S LIFECYCLE
ARROGANT IGNORANT DUMB LAZY DEAD
SOURCE – CFL – challenges on the pathway from a Startup to a lasting enterprise
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EVOLVING SET OF TRUSTWORTHY ADVISOR
Not afraid to provide harsh criticism Nor afraid to show fears Listen to them Evolve their skills as company evolves If deliver value deliver benefits
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ORGANIZATIONAL STRUCTURE
Leadership
1 Decision -making and -structure
2
People
3
Work processes and
systems
4 Culture5
Source: The Bridgespan Group: Designing an Effective Organizational Structure
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DEVELOP A CULTURE Adopt the mentality “employees first, customers second”
Prioritize your culture as the most important part of your business. Companies can’t scale without the right team
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DEVELOP A CULTURE Personality (distribution,
conflict and mirror) Transparency (how much
you want and adjust) They WHY forward (identify
and communicate )
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DEVELOP A CULTURE Cultivate an honest and open culture where employees feel comfortable being 100% honest about the way they feel INSPIRED by – DInnerLab
Embrace Healthy debate, Forget about cultivating a “feel good culture” and focus on actively working through each Problem INSPIRED by - WORKPOP
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SO TO END 1. LET IT GO 2. EVALUATE YOURSELF AND HIRE BETTER PEOPLE THAN
YOU 3. ADVISORS4. ORGANIZATIONAL STRUCTURE5. CULTURE 6. FUN
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THANK YOU Cristobal Alonso [email protected]
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