Hiring is hard. I asked a bunch of founders who are crushing it at hiring what they believe contributes most to their hiring success. Five consistent themes emerged: 1. Captivating vision 2. A++ early team 3. Putting in the work 4. Founder’s network 5. Pitching prowess
*Read on*
1/ Captivating vision
“Articulating a crystal clear and ambitious vision makes it easy for candidates to visualize what they are building towards for the next five years.” — @ktizzel_, @Snackpass
2/ A++ early team
“The best talent wants to work with the best talent. It will be very tempting to bring someone on if they are in front of you and ready to go, but it will have longer-term negative consequences.” —@nick_handel, @transformio
3/ Putting in the work
“Be prepared to commit ~100 hours for each hire you make. Interview a lot of people. Ask your network for introductions. Reach out to people on LinkedIn. Get creative on how you source candidates. There are no shortcuts.” —@SamCorcos, @Levels
4/ Founder’s network
“Our first hire came from my first company, our third hire from our investors, the next hire from my co-founder’s last company, and the next few came from referrals and inbound candidates.” —@blader, @runwayco
5/ Pitching prowess
“We see the actual offer stage as a big place you can stand out. We do a Zoom to surprise the candidate with everyone from their interview panel to share why they’re excited about the candidate potentially joining.” —@juliannaelamb, @stytchauth
6/ The five themes above came through the strongest when talking to these founders but there was also some ad-hoc tactical advice that I loved:
7/ "Use any unfair advantages in your network. Snackpass is close to college campuses so we had exclusive ‘deal flow’ that other companies didn’t. We'd directly recruit from our users, which had the benefit that they understood and loved the product.” — @ktizzel_, @snackpass_
8/ "Create an economic outcomes Notion doc that (1) outlines the structure of the market and how we value the opportunity, (2) a Gradient of Potential Outcomes that walks through various end-state scenarios, (3) compare their current TC to our package." —@IamBrandonHill, Vori
9/ “Make specific asks. When you tap your network, most people make vague requests for introductions. You’re much more likely to get positive results if you make specific asks. What’s the specific persona you’re looking for? How many people?” —@SamCorcos, @Levels
When raising money, investors are increasingly looking for your unique distribution advantage—how you get to your target market more cheaply and quickly than your competition.
Here are 7 types of distribution advantages 🧵
1. Starting with a pre-existing audience
Companies like @kyliecosmetics (Kylie Jenner), @Square (Jack Dorsey), @Superhuman (Rahul Vohra), @goop (Gwyneth Paltrow), and @Tesla (Elon Musk) springboarded off their founder’s pre-existing audience, giving them an immediate advantage.
2. Developing a unique viral loop
I previously wrote about these magical loops, and one that always comes to mind is @faire_wholesale where the team found a way to incentive their supply to drive their demand, and their demand to drive their supply. lennysnewsletter.com/p/magical-grow…
This week: I've collected my ten favorite PM interview questions + a bunch of generalist questions that you can use with anyone. A few examples in the thread below 👇 lennysnewsletter.com/p/my-favorite-…
1/ What's the most important or impactful product you shipped? What made it so important or impactful?
What to look for:
✔️ Have they actually launched something significant
✔️ How do they measure impact/importance
✔️ How much responsibility they had in the project
2/ Pick a project you’re proud of that took 3-9 months. Walk me through it from beginning to end. I’ll ask questions along the way. [Give this ~7-10 mins]
What to look for (and dig into):
✔️ How they aligned around the priorities, success criteria, and a timeline
How do people discover new products? I posit there are seven ways. A thread 🧵
1. Friends or colleagues tell you about it
At a party, at your home, at the office, over email, etc. Generally, this is free and very organic (e.g., “I LOVE my new spatula, check it out!”), but it can also be incentivized through a referral program or even an MLM program.
2. You come across it organically while browsing online
The next best (aka cheapest) way to learn of new products. e.g. Seeing a social media post, press, influencers organically sharing it, comments in a forum, Wirecutter, organic search results, etc.
The job description for a Product Manager, based on reviewing PM career ladders at 20+ companies 🧵
1/ Leadership
"Demonstrates ability to effectively motivate a large team. Can successfully start and direct self-sustaining teams."
"Inspires teams to achieve great outcomes. Pushes team when they need to be pushed, and supports teams when they need support."
2/ Execution
"Focuses, runs, and plans across a series of teams that operate seamlessly with minimal blockage, minimal noise, and a rapid clip of high-quality delivery. Others frequently turn to this person to understand how to run highly productive teams."
"Come shape the future of Blockchain-powered football collectibles, you’ll have a massive impact from day 1 as part of the founding team. Freedom, autonomy and ownership are all part of the deal."
Eight ways to make money: 1. Sell a thing 2. Rent a thing 3. Take a cut 4. Charge a subscription 5. Charge based on usage 6. Sell a service 7. Advertising 8. Charge on % of assets
More in 🧵
1/ Sell a thing: Sell someone your physical or digital product
• Examples: iPhone, lemonade, land, stocks
• Ideal for: Physical products you manufacture or acquire
• Optimize: Unit economics
• Business strategy: Make or acquire a thing —> Sell it for more than it cost you
2/ Rent a thing: Allow someone to borrow a product that you continue to own
• Examples: Apartments, rental car
• Ideal for: Physical products you manufacture or acquire that people don’t want (or can’t afford to) to own