At Bolt we've done 10,000+ reference checks.

Crazy right?

Not really. We’ve found them to be the most powerful tool in our talent arsenal.

Here’s the playbook on how to do an A+ reference check 👇👇👇
Why are references important? 3 reasons:

1. Evaluation: It provides us with critical information
2. Alignment: It creates a tighter hiring process
3. Communication: It gets the candidate excited about the company

#3 is counterintuitive. Here’s what I mean:
Depth of a reference call makes all the difference.

A simple checklist of questions? Annoying, bland, cumbersome.

Thoughtful two way questions? Candidates step back and say “Wow. If the company cares about me this much now, imagine when I’m there.”

This is big.
One important note before we dive in.

For every hire, ask for 3 references.
1. Someone they reported to
2. A peer
3. Someone they managed

This will give you a 360 degree view of the candidate.

Ok, now onto the script:
Question 1: What is your professional relationship with <candidate>?

What has <candidate> told you about Bolt and the opportunity?

Then give them some background info about the company.

This breaks the ice and subtly get this person excited about your company.
Here’s a secret:

If this person is a reference for someone you want to hire, chances are that they’re likely a pretty strong candidate themselves!

They’ll also likely speak to the candidate afterwards.

Crushing the casual pitch can help you nail 2 birds with one stone.
Q 2: Tell me what it’s like to work with <candidate>.

You can get a lot of information from an open-ended question like this. So, instead of diving right into specific questions, stay vague.

Let the reference speak to hear maximum information.
Q 3/4: Over the course of your career, how many <role name> have you worked with who have comparable experience? How would you rank <candidate name> amongst those people?

Try to get specific numbers.
Another secret: I’ve NEVER heard someone say the “Bottom 50%”. Everyone is always “in the top”.

Mathematically that obviously can’t be true.

Dig in to figure out how “top” they are - are we talking Top 50%, Top 10%, Top 1%?

There’s a big difference between those answers.
Q 5/6: What sets them apart in the top 10% and not in the bottom 90%? What sets apart those who are in the top 5% vs them in the top 10%?

This is basically the same way of asking about strengths and weaknesses, but with real data points. It will lead to better answers.
Q 7: If I were reading their peer reviews, what is an area of improvement that I might uncover?

This is yet another way to ask about areas of improvement.

It is safer because this person is clearly a trusted friend.

Asking about peers allows them to put their identity aside.
Q 8-12: How well did <candidate> get along with their co-workers and management?

What kind of personalities did they work well with?

On a scale from 1-5 how coachable are they? Why did you give them that score?

While you worked with them, where did you see the most growth?
These are pretty straightforward but important questions.

Coachability and ability to work well with others is so key.

Always make sure to ask about this essential trait.
Q 13: If <candidate name> were to join us, how would we best set them up for success in the first 90 days?

If you’re doing references on a candidate, you might as well prepare yourself for what comes next: managing the person.
If you're looking to get advice on how to manage and onboard someone new,

The best person to ask is someone who has just worked with them.

And that's who you're on a call with!

This question ends up being one of the most valuable we ask.
Q 11: What is something you haven’t told me that you think we should know?

Alt: What is a question that you think I should ask that I haven’t asked

We started open-ended and like to end open-ended.
And, that’s it!

If you do reference checks this way, WOW are they powerful.

The person you spoke with will be blown away with your level of thoughtfulness.

And you’ll come away with a 10X more accurate picture of the candidate you’re considering.
If you liked this thread, give me a follow at @ryantakesoff.

I routinely share my learnings building multiple billion dollar companies with Twitterverse.

Let’s take off together! 🚀

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More from @ryantakesoff

20 Oct
Startups are all about momentum.

Period.

The best founders know how to take momentum and turn it into lightning in a bottle.

Over the last 18 months, we have done that at Bolt - our valuation has gone up by 1600%.

Here are 10 practical tips on how to multiply your momentum 👇
Tip 1: Turn money into more money

Fundraising is the ultimate game of momentum.

If your round is full, that’s the time to double down and build even more momentum.

Bolt has raised a B, B1, C, C1, D, D1, etc.

Much of this was from over-committed primary rounds.
Tip 2: Turn investors into more investors

When an investor is committed and has wired their money,

Ask them who else they recommend.

Sit down with them and go through specific names.

Turn 1 investor into 3, those 3 into 9, and so on.

This works great with SAFEs and Notes.
Read 13 tweets
19 Oct
Over the last 7 years I’ve built 2 multi-billion dollar companies.

It’s been grueling. We don’t share these lessons enough.

So I decided to do that over the last month.

The feedback has been awesome - 25k new followers in 1 month.

Here’s a roundup of all of the threads 👇
Why Bolt is the first tech unicorn to shift to a 4 day work week.
I’ve built both a $4B company and a $1B company over the last 7 years.

Here are the 12 mindset rules that got me here.
Read 11 tweets
13 Oct
🚨Big announcement today: Bolt raises $393M.

Wow.

A couple years ago, I didn’t know if we were going to make it.

Now we have $500M+ on the balance sheet.

I wanted to share a bit more about where we've been, but more importantly where we're going 👇👇👇
To put this fundraise into context, our valuation has gone up 18x in the last 18 months.

This wasn’t an accident, but it also wasn’t a given.

There were 4 big pillars that allowed us to hit this milestone and set up our foundation for future growth from here:
Pillar 1: A relentless focus on culture.

At Bolt we pioneered the Conscious Culture movement.

The equation is simple:

Potential = Execution + Humanity.

Implementation of this equation is anything but simple.

We work on this every day at Bolt.
Read 12 tweets
7 Oct
Fundraising

I have helped 100+ founders collectively raise $5B.

The biggest insight: fundraising is a game.

If you know how to play, you can do well.

Here are the 10 most common mistakes founders make 👇👇👇
Mistake 1: Complicated Pitch

The average VC spends 3 minutes on a pitch deck.

Crazy right?

Attention spans are shorter than ever, but consideration spans are still long.

People lean in if they're hooked.

So how do you hook them?

Keep the pitch simple.
Mistake 2: Building Relationships Late

It's hard to build a relationship with someone AND ask them for money at the same time.

Instead, develop relationships early.

Meet VCs, discuss your startup, share your progress.

When you need to fundraise, hit the ground running.
Read 13 tweets
6 Oct
When you look all at the iconic companies, there’s 1 undeniable shared trait:

A willingness to take risk.

In contrast, dying companies lack this trait.

So… how to do build an team that’s ok with risk?

It’s not so simple. Let’s dive in 👇👇👇
1/ Set a Threshold for Wrong

At Bolt, one of our favorite operating values is Chase 10X, Be 20% Wrong. (credit: Reid Hoffman)

The 20% figure really matters.

It puts a real number behind our willingness to make mistakes.

It gives the team something tangible to measure against.
2/ Praise Smart Failures

Failure is the lifeblood of a risk taking culture.

The mindset: Failure is progress. It means you learned critical information to inform your next step.

When giving feedback to your team, if they drove a smart strategy that led to a failure, praise it.
Read 14 tweets
4 Oct
In all of my spiritual work,

I’ve found no concept more important than Samsara.

They say that if you stare at the Wheel of Samsara long enough,

You become enlightened.

I will now explain it in plain english:
Samsara is a Buddhist concept that describes the suffering humans face over the course of one or many lifetimes.

We run on the wheel, like hamsters, until one day we finally see the wheel for what it is and step off.

There are 6 Realms that we all occupy at any give time.
Understand these Realms and you will understand humanity.

Ok, here we go…
Read 14 tweets

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