nope, we like to invest in first time founders and folks that have done it before. it’s about team, idea and product. I was just asked about this topic in the Boston Globe last week so you may find this article useful/interesting.
Month: June 2010
However, on at least six occasions during my tests, the new iPhone was either reporting “no service” or searching for a network while the old one, held in my other hand, was showing at least a couple of bars. Neither Apple nor AT&T could explain this. The iPhone 4 quickly recovered in these situations, showing service after a few seconds, but it was still troubling.
New iPhone Keeps Apple Top of Class – WSJ.com
i’m still going to get the new iphone but this line from Mossberg is a heartbreaker.
Radiohead – Banana Co
Acoustic and wonderful. Pumped for the new record coming out this year (hopefully).
When someone else’s problem becomes your problem
This morning I drove to work and a guy in front of me was weaving in and out of traffic. Frantically.
It was pretty clear this guy was late for a meeting, the airport or whatever. And he was creating a headache for everyone else around him. His problem became everyone else’s problem.
Unfortunately this sort of thing can happen in the world of startups and venture capital as well. A board member has problems with his own portfolio and he takes out his own issues on an unsuspecting startup. Or someone at the office comes to work lit like a roman candle because they didn’t get any sleep last night because of a personal matter impacting their lives.
Their problem becomes your problem.
I think the only way to deal with this issue is by taking it head on. For the never-happy board member, I will often talk to this person out of the board room and calmly review the issues related to the non-offending startup that got hit with emotional shrapnel.
Same is true for the colleague at work that comes to work in a funk.
A vc friend of mine recently told me that he is only interested in bringing someone on to his team if his personal life is in good shape and a high priority in his life. It makes complete sense on many levels. First, it respects the individual and it also is mindful that our various lives spill over and get mashed up with each other.
One more thing (since i"m mindful that this is starting to sound like a “know it all” post which god knows isnt how i feel), we are all guilty of this from time to time. So when we find ourselves as the root of the issue, take a breath and go for a walk.
My new shoes.
A private letter from fathers day
Yesterday we had a wonderful fathers day. Spent the afternoon with lauren, the kids along with my mom & dad and my brother and his family.
My kids gave me a number of great gifts – from the homemade to the store bought. All appreciated and wonderful.
Sophia (age, 11) wrote me an amazing letter. I had to read it again this morning. It made me tear up for a second time so I had to write a post about it.
I don’t think i’ll share the actual contents of the letter on this blog but I thought I would at least share the feeling.
Incredible.
Band Of Horses – Our Swords
Going back a few years to their debut album Everything All The Time
Around that time, I attended an offsite of a larger private equity firm and there was a organizational psychologist who gave a talk on work life balance. He said something I’ll never forget. He said that you have about ten to twelve years to connect with your kids and then they turn into teenagers, tune you out, then turn into adults and build their own lives. I thought about my kids who were five, three, and a baby and realized that time was short and I needed to be present in their lives in every way that I could. And I committed right there and then to do that. And I’ve done a pretty decent job of it. Not perfect by any means. But much better than my yoga practice.
Nada Surf – Electrocution (Bill Fox cover)
(via mokoyfman)
Are you a micro-manager or can you delegate?
In the early days of a startup it’s common and necessary for the founder(s) to be involved in every decision. From the strategic to the mundane.
Some love it and others do it out of necessity.
But as the company grows the founder(s) have a decision to make. Do they keep a very tight reign or do they delegate responsibility across the company.
And the question is how and when do they make those decisions.
Unfortunately there isn’t a good general answer that works for every situation.
After being in a number of startups myself and seeing our firm invest in over 40 companies, a few things come to mind.
1. The founders have to do what’s natural to them. Forcing them to be something they are not is where the trouble starts. Sometimes founders will try to convince themsleves they can delegate when they just can’t. So they let the team work on a proeject but then the founder can’t hold back anymore and they come down like a bolt of lightening towards the end of the process. Very disruptive and problematic. I’ve seen it up close and it sucks.
2. Years ago, I was always against the idea of hiring a President/COO/GM for a young company. It just felt like overkill or a layer that was unnecessary. But I’ve learned that a strong, organized, driver #2 exec in the company can provide enormous benefits to a “control freak” founder. Getting this right isn’t easy. Finding someone with the skills but also chemically works with the team is hard. Yet if you find the person it’s pure gold. The trust then goes from 1 person (the founder) to 2 people and then the COO/GM can delegate appropriately. It’s a highly effective fan out effect. As a result decisions get more efficient, hiring is more efficient and things start moving.
3. Sometimes founders will find themselves completely burnt out. That is usually a clear sign that they absolutely need to delegate and the board should help coach the founder to see that and figure out a plan to make a change. The change could mean changing the organizational structure (e.g. add management) or narrow the function of the founder. I’ve seen both work well. Some it does mean a founder needs to move on.
Much of this depends on the culture of the company you want to build.
The best advice to help you evolve from a micro-manager to someone that can lead and delegate is to simply hire the very best people you can find. They will demand more responsibility and you will sleep better at night.
* * *
As a parent, I’m learning how to evolve from a “micromanager” to someone that can let others (ie my kids) make their own decisions. It’s isn’t easy but I’m learning its the best thing I can do.