What are my strengths?

Recently an entrepreneur was asking me questions about my own entrepreneurial journey. He was interested in learning from other entrepreneurs and potentially modeling his style and actions after others. My advice: play to your own strengths. Only you can be you.

As for myself, I have a number of strengths and weaknesses.

I love starting things, but hate finishing them.

I love dreaming up ideas and getting others excited about them, but have little interest in the detailed execution.

I love connecting people and looking for ways to add value to others.

I love seeing trends in the world and guessing where things will be in the future.

I love finding gaps or opportunities in the market and thinking through potential solutions.

I love as little process as possible that ensures the organization is running well, but eschew anything that feels like overhead.

I love challenging people and working to help them grow in their careers.

I love getting doubted and then proving the skeptics wrong.

I love trying hard things and just move right along when most don’t work, with no regrets.

I have plenty of strengths and weaknesses, no different than anyone else.

My ability to see where markets are headed, recruit people for crazy ideas, and stay out of the weeds are some of my most important strengths.

What are your strengths?

Stories of an Entrepreneur’s Resourcefulness

Earlier this week I had the opportunity to hear Jewel Burks Solomon share her entrepreneurial journey and it was incredible. Reflecting on the Partpic story, the piece that stood out the most was her neverending resourcefulness. Setbacks, adversity, challenges — no match for her.

Within her journey, here are a few stories that stood out:

  • Jewel joined a company’s management training program and was assigned to run a call center. Only, on a daily basis she was bothered by angry customers needing to solve a problem — what’s the name and number for this part? She came up with an idea for a software product that analyzed a picture to determine the part. Yet, management at the company had no interest in pursuing her idea. Hence, the idea for Partpic — a computer-vision system for identifying parts — was born.
  • After investing her lifesavings in the idea, and running out of money, she started entering pitch competitions — anywhere and everywhere — as a way to fund the business. $250,000 and multiple pitch competition wins later, she had cash (bonus: it was mostly non-dilutive!).
  • When she decided to raise money, she pinpointed Joanne Wilson as her desired angel investor. Instead of approaching Joanne directly, she worked her network and met with several entrepreneurs Joanne had already invested in, and then asked them to intro her to Joanne in the same week. Joanne was the first angel investor.
  • Wanting to get on the radar of Amazon.com, she pointed out to the Amazon Web Services conference manager there weren’t enough women speakers, and she had just the person — her technical leader that was a machine learning expert. Amazon.com took her up the idea, her technical leader presented, and Amazon.com’s corporate development team was in the audience during the talk. After the talk, the corp dev team gave their business cards to the technical leader, who then gave the cards to Jewel. Jewel followed up and the rest is history — an acquisition by Amazon.com

Resourcefulness is one of the most important traits of successful entrepreneurs and Jewel’s story painted one of the most compelling pictures I’ve heard. Special thanks to Jewel for sharing her story and helping the next generation of entrepreneurs.

Frequent, Quality Communication as Success Indicator

Recently I was talking to a friend and he asked about indicators of entrepreneur success post investment. Now, pre-investment, entrepreneur personality traits like grit and resourcefulness come to mind, but after partnering with an entrepreneur, it’s a behavior that’s most indicative: frequent, quality communication.

Frequent, quality communication is an action, not a personality trait, and one that every entrepreneur can do. Only, too many entrepreneurs don’t do it.

So, if communication is an indicator of success, why don’t more entrepreneurs do it?

Easy, prioritization.

Many entrepreneurs simply don’t prioritize frequent, quality communication. To some, it’s beneath them — simply not worth their time. To others, they don’t understand the benefit.

Frequent, quality communication with all constituents — employees, investors, advisers, mentors partners — develops more clarity of thought and a vehicle for feedback and help. Just the act of communicating forces an articulation of position, strategy, and approach. More communication, more results.

Communication comes in many forms. Some of the most effective methods are the weekly update, simplified one page strategic plan, and daily check-ins.  Whether the communication is written, in-person, or virtual, it doesn’t matter. What matters is that it’s frequent and high quality.

Communicate early and often. Put in the effort. Make communication a priority.

12 Ideas to Strengthen Culture

Corporate culture is a funny thing. Similar to my favorite definition of brand — how you feel about the last experience with a company — culture is expectations of how people behave, both internal and external, at a company. Only, without intentionality around culture, culture will be inconsistent and corresponding behavior expectations low. The strongest cultures have clear values, repeatable processes, and high expectations.

Culture is powerful.

Culture is a unique differentiator.

Culture is the only thing in complete control of the entrepreneurs.

Here are 12 ideas to strengthen culture:

  1. Establish the mission, vision, and values
  2. Develop a Simplified One Page Strategic Plan and update it quarterly
  3. Build SMART goals/OKRs and revisit them weekly
  4. Run daily check-ins for active organization of priorities
  5. Organize an interview flow for the desired values
  6. Integrate culture check teams in the hiring process
  7. Ensure quarterly check-ins to review results and areas for improvement
  8. Highlight the hero and idea of the month
  9. Send a weekly update email to keep everyone aligned
  10. Solicit regular employee feedback at all levels
  11. Incentivize internal referrals for people with similar values
  12. Escape the office with regular off-site retreats

High performing companies have high performing cultures. Use these ideas to build a strong, enduring culture.

Excellent Meetings and Communications Recommendations from Tesla

An internal Tesla memo from Elon Musk on Tesla Model 3 Production was just leaked to the public. In it, there’s an excellent section on productivity, specifically around meetings and communications. From the memo:

– Excessive meetings are the blight of big companies and almost always get worse over time. Please get of all large meetings, unless you’re certain they are providing value to the whole audience, in which case keep them very short.

– Also get rid of frequent meetings, unless you are dealing with an extremely urgent matter. Meeting frequency should drop rapidly once the urgent matter is resolved.

– Walk out of a meeting or drop off a call as soon as it is obvious you aren’t adding value. It is not rude to leave, it is rude to make someone stay and waste their time.

– Don’t use acronyms or nonsense words for objects, software or processes at Tesla. In general, anything that requires an explanation inhibits communication. We don’t want people to have to memorize a glossary just to function at Tesla.

– Communication should travel via the shortest path necessary to get the job done, not through the “chain of command”. Any manager who attempts to enforce chain of command communication will soon find themselves working elsewhere.

– A major source of issues is poor communication between depts. The way to solve this is allow free flow of information between all levels. If, in order to get something done between depts, an individual contributor has to talk to their manager, who talks to a director, who talks to a VP, who talks to another VP, who talks to a director, who talks to a manager, who talks to someone doing the actual work, then super dumb things will happen. It must be ok for people to talk directly and just make the right thing happen.

– In general, always pick common sense as your guide. If following a “company rule” is obviously ridiculous in a particular situation, such that it would make for a great Dilbert cartoon, then the rule should change.

25 Principles of Adult Behavior by John Perry Barlow

John Perry Barlow passed away yesterday leaving a strong legacy as the founder of EFF. Many years prior, at the age of 30, he defined 25 principles of adult behavior that are excellent. Enjoy!

  1. Be patient. No matter what.
  2. Don’t badmouth: Assign responsibility, not blame. Say nothing of another you wouldn’t say to him.
  3. Never assume the motives of others are, to them, less noble than yours are to you.
  4. Expand your sense of the possible.
  5. Don’t trouble yourself with matters you truly cannot change.
  6. Expect no more of anyone than you can deliver yourself.
  7. Tolerate ambiguity.
  8. Laugh at yourself frequently.
  9. Concern yourself with what is right rather than who is right.
  10. Never forget that, no matter how certain, you might be wrong.
  11. Give up blood sports.
  12. Remember that your life belongs to others as well. Don’t risk it frivolously.
  13. Never lie to anyone for any reason. (Lies of omission are sometimes exempt.)
  14. Learn the needs of those around you and respect them.
  15. Avoid the pursuit of happiness. Seek to define your mission and pursue that.
  16. Reduce your use of the first personal pronoun.
  17. Praise at least as often as you disparage.
  18. Admit your errors freely and soon.
  19. Become less suspicious of joy.
  20. Understand humility.
  21. Remember that love forgives everything.
  22. Foster dignity.
  23. Live memorably.
  24. Love yourself.
  25. Endure.

Attributes of a Successful CEO

Harvard Business Review has an excellent article titled What Sets Successful CEOs Apart. The authors talk about a variety of research where they distill down the four attributes that set successful CEOs apart from other CEOs. From the article, here are the attributes:

  • Deciding with speed and conviction.
  • Engaging for impact.
  • Adapting proactively.
  • Delivering reliably.

It sounds pretty simple but it’s incredible hard for a CEO to consistently do all four. Want to learn more? Head over and read What Sets Successful CEOs Apart.

What else? Have you worked for/with CEOs that had those attributes?