Leverage is about making small changes that have huge impacts.
Why is managing well important? Management gives you leverage.
Optimizing managing process can have ripple effects in your company.
Managers dictate most of people's experiences at companies.
They effectively oversee the social contract btw the company & employee.
If employee's have a bad experience w/ their manager, they'll likely leave.
Managers are so important Keith Rabois suggests optimizing for your manager as much as the specific company.
Good management matters more than ever:
Andy Grove wrote High Output for industrial, conveyor belt era
Today, employees don't just need to be productive, they need to be creative
Which means they need to be inspired & internally motivated so they can be generative & productive
Great ICs are expected to become managers, even if they have neither the skillset nor the interest. But being a good IC doesn't make you a good manager.
Let IC's be IC's if they want, & create paths for ppl to be managers.
People aren't born managers. They need to be trained.
Onboarding:
- The best indicator of how long someone will stay in the org is their experience in the first day.
- Make sure everything's set up so they can ship something their first day.
- Make sure they can easily understand priorities of the company and where they fit in.
How to have a 1:1
- Weekly 30 min 1:1 with your reports
- Update & agenda prepped in advance by the reports
- Align on what are the top three things that are most important to get done by this time next week. Capture those & check in next week:
- Make sure people are prepped ahead of time (updates published ahead)
- Having a meeting owner to move ppl along
- Also have a note-taker to track decisions & next steps
- Don't create weird incentives where ppl get promoted b/c of face-time
Comp:
- More important to figure out what's fair within org than in market, as that's what ppl care more about.
- Different approaches: Uber famously paid 75% of market as a gut check "How much do you believe this"? Netflix famously pays aggressive salaries but skimps on equity
Performance Improvement Plan:
- PIPs are opportunities for struggling employees to reinvent themselves.
- "These were expectations for the role. This is observed performance. This is what we need to do to bridge the gap."
- PIPs need to be specific. Not "Improve communication"
Firing well:
- Fire crisply & kindly
- Don't negotiate
- Don't have long transition periods. Cut the chord.
- Don't demote (usually)
- Don't feel too terrible. You're letting them go to a different company where they will be more valued, more respected, and more successful
Mistake founders make:
Hero'ing: doing the work themselves on behalf of their reports.
This is bad because you start resenting your team and because they develop a learned helplessness.
If you have to do it, acknowledge explicitly you're doing it so it's known it's temporary.
Culture:
Solves the resolution to bandwidth problem.
You can't be involved in every decision as the company grows, so you want to create the cultural infrastructure by which people do what you want them to do when you're not there, when they don't even know you well.
Culture:
Having an explicit culture "We're for X, not Y" can be helpful to self-select & stand out: Be known for something or be known for nothing.
Ppl think culture is like architecture when more like gardening. You plant some seeds & pull out weeds that aren't working.
Culture:
The best way to influence culture is to hire for it upfront
Make sure you link your hiring process to your annual review
If you evaluate candidates differently than you evaluate hires, you're not setting team up for success
I’m excited to (finally) announce the launch of my newest incubated venture: @TurpentineMedia, a network of podcasts, newsletters, and more covering tech, business, and culture, from the perspective of industry insiders and experts.
There exist practitioners in every vertical who’d make more money & have more fun being a business creator for their niche, & Turpentine is here to help them do it
Check out the podcast episode with Marc Andreessen below. I'm biased, but I think this interview gives the best insight into his intellectual journey over the past decade.
- Marc's intellectual evolution
- Why billionaires think the same
- @elonmusk as the return to entrepreneurial capitalism
- Larry Page on why giving money to Elon is the best philanthropy
- Effective Altruism's blind spots
Thanks to sponsor @riversidefm. Riverside captures exceptional audio and video quality and makes it incredibly easy for us to record shows with multiple guests.
The idea of global supply chains goes away; the idea of a single price for oil goes away; the idea that we can feed 8 billion people goes away amazon.com/End-World-Just…
Talkshow founded by the excellent @sippey tried this in 2016, but perhaps now's a better time for it since group chats are more prominent today given how stilted social networks have gotten