1/ Talking w founders over the last two weeks amid the #Coronavirus has been telling. Some are planning while others are kicking the can down the road. A few thoughts from operating through tough times...
2/ Two quotes come to mind: "Everyone has a plan until they get punched in the mouth" -@MikeTyson. "The time to repair the roof is when the sun is shining" -JFK
We can all learn from this. Don't get caught on your heels.
We can all learn from this. Don't get caught on your heels.
3/ The @sequoia letter to founders, calling the #Coronavirus "the Black Swan of 2020" is worth a read. medium.com/sequoia-capita…
While it feels both a long and short time ago, it reminds me of 2009 during the financial crisis when I was working at @Google.
While it feels both a long and short time ago, it reminds me of 2009 during the financial crisis when I was working at @Google.
4/ Sergey Brin wrote this in 2009. My favorite quote, one that sticks with me still, is "scarcity breeds clarity." googleblog.blogspot.com/2009/05/2008-f… (many gems in this #longread). Is a piece of internet history and should be read by founders and their teams once a year, at least.
5/ When times are good, everyone is funnier, better looking and taller. When times are bad, panic ensues, people show their true colors, and the air smells and tastes different. As leaders of companies, it is your job to plan for the bad, but to do so during the good times. How?
6/ A/B/C talent planning. Lock in the As by finding what motivates them (is it exec face time, is it money/stock, is it a new project/stretching them professionally? Figure it out!). Get a plan in place for the Bs to either become As or become Cs. Manage out the Cs.
7/ This may sound Darwinian, but when you are managing and scaling an organization, in good times or bad, it is the job of the leadership team to always be planning when it comes to talent, for today and tomorrow. Spend a minute w/ an A and you get 10X ROI than w/ a C.
8/ Headcount freeze. Every role should be discussed. Do you really need it? Prove it. Stretch the teams. Do not assume when someone leaves that you will backfill. That role must be reconsidered and productively argued for, in a forum set up by leadership. Act like an owner.
9/ Zero based budgeting. investopedia.com/terms/z/zbb.asp One of my favorite things about working at private companies: QUARTERS DO NOT MATTER. You can start a new plan whenever you want. You do not have earnings calls. You are a sail boat, not a cruise ship. Turn when/where you see fit.
10/ For customer facing teams, hang in there. You are the company punching bag. If you are selling a "nice to have" vs a "need to have" you should be worried. Train your GTM teams on how to handle rebuttals such as "our budget got cut" or the classic hit "we are shifting focus."
11/ Bring outside feedback inside the company and celebrate it. Rally around it. And put a plan in place, together. Hope this is helpful and would love and adds/thoughts.
