There is no recipe for the hard things about building a business
Looking at the world through different prisms (football team vs. Calculus class) helps separate fact, gives perspective. Helps you see alternative
Don’t trust your first impression. Ask what could cause it and either confirm or disprove it
The 20 who say no don’t matter, the one who says yes does (on finding investors)
If you’re going to eat shit, don’t nibble - negative is negative so get it out of the way at once
What is the worst thing that could happen? What would you do if the worst did happen?
Can’t wait a second to tell employees where they stand. Otherwise they’ll never trust us
At big companies delays come from a single person being held up. Don’t let that happen. Remove all roadblocks all the time.
If you level with the team and make it meaningful and a team, hard work can be fun and gratifying.
Product strategy is not trusting data. Customers don’t know what they really want bc they don’t know what is possible
Conventional wisdom is not truth, it just is a convergence on an opinion
Good idea to ask: what am I not doing?
CEO cannot play the odds. Your task is not to know the chance of finding the answer, its to find the answer
Most important skill: ability to focus when there are no good moves and find one that works. Getting out of screw ups.
Don’t be too positive. People below you can walk away more easily, so they can handle losses much better.
Admit failure. Eg layoffs are because the company failed to meet goals. Admit it, don’t spin it.
Hire for strengths, not lack of weaknesses
You need to define your position specifically, for your specific company. Not a generic, abstract role. If you don’t know what you want, you won’t get it. Most important step, but often skipped
Most leaders/people react to positive leading indicators but explain away negative ones.
There aren’t silver bullets, just lead bullets. If you’re not good enough to go to war, why do you exist?
Take care of people, products, profits in that order
A good place to work is a place someone can focus on their work and know if they do a good job good things will happen for the company and their careers
Training is the managers job. You need to train your people yourself.
Clearly set expectations during training for clean performance management
Management training then functional training (how to hit expectations)
Screen for mismatches (rhythm or skill) and be deliberate about integration. Each company is different, especially big vs small
Running vs. Creating. For small companies, you want people who want to create.
Hire for the strengths you specifically need, not lack of weakness
Every great CEO has in common a willingness to make tough decisions (lose an employee, give poor feedback, vary bonuses) to avoid management debt
Often the least political ceos that have the most political orgs
Need to consider the systematic impacts, not do things ad hoc
Screen for the right kind of ambitions. Success is the companies success, not individual. Team prism over me prism.
Hire senior people should be for bringing a specific skillset or experience you need, not for abstract things like ‘become a real company’
Performance = results against objectives, management, innovation, working with peers
Need to build a 10x product, then take the market
Culture does not make the company. But helps preserve it.
For culture, focus on a few things that have far reaching impact. Do it with shock value. Desks from doors
Culture is not perks. It’s got to be related to your company differentiator, values, business
Scaling: give ground grudgingly. Grow, but degrade as slowly as possible.
Specialization is first way to scale. Learning curve for someone joining gets too high if everyone does everything.
Organizational design: first rule is all designs are bad. It’s all tradeoffs. It’s the communications architecture - the closer on the chart the more ppl communicate, so optimize for most important communication. ID the communication paths you depriorotized and try to mitigate the downside
Process is structured assurance that communication will happen. The greater the challenge, the more robust the process. Let the people doing the communication design the process
Figure out the desired outcome first. Then the process and steps to get there. Then assign responsibility
You will screw up and be overwhelmed. Don’t focus on the things you do wrong. Focus on the things you absolutely need to get right.
Focus on the road (where you need to go) not the wall (the things that can kill you), or you’ll drive right into the wall
Two core CEO skills: knowing what to do, getting the company to do what you know
Leadership is the quantity and quality of people that want to follow you
Three leadership skills: ability to articulate the vision (especially in hard times), the right kind of ambition (ppl feel like it’s their company) , ability to achieve the vision. Steve Jobs, Bill Campbell, Andy Grove
Can improve 1 and 3 most
Wartime vs peacetime ceo: needing to hit the target at all costs, versus