PEOPLE CAPITAL: MONEY IS NOT THE ONLY THING YOU NEED TO RAISE AT STARTUPS

Mike Yonker, President, Learner Mobile @theyonks/@learnermobile VentureSpur Workshop Fall 2013

“WHAT MATTERS IS NOT IDEAS, BUT THE PEOPLE WHO HAVE THEM. GOOD PEOPLE

CAN FIX BAD IDEAS, BUT GOOD IDEAS CAN’T SAVE BAD PEOPLE”

– PAUL GRAHAM

KNOW YOU

!  Be self-critical!!  Be honest!!  Be authentic!!  What do you look for

when you hire someone?!

Me

KNOW YOUR BRAND

!  What’s Your Brand?!• Mission!•  Vision!•  Values!

!  Live it !!  When all else fails employees will

make daily decisions guided by it!

KNOW YOUR PARTNERS

Will they be there in the rain? Would they be there, when in pain?

Will they work as hard as you? Will they leave you holding poo?

BUILD A TEAM

!  It takes all types!• My first lesson!• COMPAQ ’90!•  Briggs-Meyer Test!

!  Do you really want your team to be just like you?!

!  Also stresses the need for empathy and communication!

! Team = Cohesion = >Performance!

INTERVIEW WELL

!  Job descriptions set expectations!!  Trick questions suck!!  Know what you’re hiring for!•  Skills!•  Experience!• Core Values!

!  Interview against their resume!

MEASURE SUCCESS

!  Goals = Responsibility!!  Metrics = Accountability!

COMMUNICATE PRIORITIES

!  Employees make tons of decisions daily!

!  Priorities guide those decisions and allow for autonomy!

!  You’re all on an adventure – it’s nice when you feel like you’re in the same boat, going to the same destination!

PROVIDE GUARDRAILS

!  No one likes to micro-manage!•  If you do, you have other problems!

!  No one likes to be micro-managed!•  If they do, you have other problems!

!  Set guardrails, like French parents!

LEAD, THEN MANAGE

! What Makes a Great Leader?!! Management != Leadership!• Counting value vs. Creating value!• Circles of influence vs. Circles of power!•  Leading people vs. Managing work!

!  Great Management = Operational Efficiency!

REMOVE BARRIERS

#1 JOB OF GREAT MANAGERS IS TO SET DIRECTION, REMOVE OBSTACLES, AND ALLOW EMPLOYEES TO RUN QUICKLY

DEAL WITH UNDERPEFORMANCE

!  Harmful for everyone!!  Use informal

accountability!!  SHAKE on it!!

WORK != LIFE

!  Great employees are going to work long and hard!

!  Encourage hobbies and vacation - everyone needs an escape, incl. you!

!  Think hard about company events!• Do you want to ask more time?!•  Are you encroaching even more on their

personal/family time?!

SAY SORRY

!  Professional environment!

!  Civility still applies!!  If you slip up, do

the same think you’d tell your kids to do!

My Wife

DO THE SIMPLE STUFF, IT MATTERS

!  Provoke curiosity!!  Think like the best sales people!•  Ask questions!•  Listen, think, respond – 2 ears/1 mouth!

!  Don’t interrupt!!  Everyone’s voice matters – have a parking

lot for ideas!!  Getting a raise wears off – take notice/say

thanks!

“CAUSE CHANGE AND LEAD; ACCEPT CHANGE AND SURVIVE;

RESIST CHANGE AND DIE.” – RAY NOORDA

QUESTIONS?

THANK YOU mike.yonker@learnermobile.com @theyonks/@learnermobile