Driving company performance: What are you settling for?

good

I was with one of my CEOs this morning. As we walked through the highs and lows of his business I made a suggestion that I want to pass on.

Nothing’s ever perfect in a startup, or life for that matter. Perfection is an illusion. However, on the startup journey the bulk of value gets created once everything starts to work.

Continue reading Driving company performance: What are you settling for?

It’s all just input. You need to make the decisions

Screenshot 2016-02-10 07.57.35Back in my VC days we ran the FounderFuel accelerator. Our program was blessed with many strong mentors. We regularly brought mentors and companies together. 

While this was all good, often the founders would complain of “mentor whiplash”. Mentors would have conflicting advice for these founders.

I see similar issues with more established companies when it comes to their boards. Often they turn to their board for advice. And often, individual board members have different advice. What are you supposed to do? Especially if the conflicting advice comes from investors that made big bets on you.

Here’s the thing: All the advice you’re getting is just input. You are supposed to digest that input and make the final call.  Continue reading It’s all just input. You need to make the decisions

Should founders get Stock Options?

Employee-Stock-Options
Image Source: http://sophisticatedignorance.net/wp-content/uploads/2013/11/Employee-Stock-Options.jpg

Founders often ask me whether they should be asking for stock options in their own company. Some of them feel sheepish for asking. Some feel entitled. There’s no one right way to think about founder incentive compensation, but here’s how I have approached it over the years.

The Early Days

Anyone can start a company. And in the beginning, what you have is not even a company yet. I see startups having three distinct phases: Continue reading Should founders get Stock Options?

Should I hire a COO or CFO?

Venturebeat declared in an article yesterday that “The CFO is dead, long live the COO”. The premise of this piece, written by a CFO, was that today’s CFOs are intimately involved in growing their businesses. Rather, than just reporting on historical results, they are a key partner working across the company to promote better strategies and decisions, leveraging current, real time data, not just histocial financials.

All of this is true, but there is a big difference in my books between an actual COO and a CFO who happens to be adding value across the business. The COO is ACCOUNTABLE for those results. She will have P/L responsibility and will be managing a large team that is directly tasked with delivering those results.

If you’re just supporting the delivery of those results with insights and analysis, then you’re not a COO. Continue reading Should I hire a COO or CFO?