I’ve written a few times over the years about our Sabbatical policy at Return Path, including this post and this post about my experience as CEO when one of my direct reports was on his sabbatical, and this post about my own sabbatical. People ask me this all the time, so I thought I’d write the policy out here. This is the language in our employee handbook about them: You have big dreams. We know. This is your chance to cross something off your life list. Whether it’s climbing Mt. Everest, learning Russian or taking your kids across the country in a Winnebago, we believe in rewarding longevity at Return Path and know that a good long break will leave…
Category
Entrepreneurship
5 Ways to Get Your Staff on the Same Page
5 Ways to Get Your Staff on the Same Page [This post first appeared as an article in Entrepreneur Magazine as part of a new series I’m publishing there in conjunction with my book, Startup CEO: A Field Guide to Scaling Up Your Business] When a major issue arises, is everybody at your company serving the same interests? Or is one person serving the engineering team, another person serving the sales team, one board member serving the VC fund, another serving the early-stage “angels” and another serving the CEO? If that’s the case, then your team is misaligned. No individual department’s interests are as important as the company’s. To align everyone behind your company’s interests, you must first define and…
Debunking the Myth of Hiring for Domain Expertise vs. Functional Expertise
Debunking the Myth of Hiring for Domain Expertise vs. Functional Expertise As a CEO scaling your business, you’ll invariably want to hire in new senior people from the outside. Even if you promote aggressively from within, if you’re growing quickly enough, you’ll just need more bodies. And if you’re growing really fast, you will be missing experience from your employee base that you’ll need to augment. For years, I’ve thought and heard that there’s a basic tradeoff in hiring senior people — you can hire someone with great domain expertise, or you can hire someone with great functional expertise, but it’s almost impossible to find both in the same person, so you need to figure out which is more important…
Getting the Most out of Your Investors
Getting the Most out of Your Investors Fred Wilson has been a venture investor and director in Return Path since 2000, first with Flatiron Partners and then with Union Square Ventures. We’ve been through a lot of wars together. In a couple of weeks, he and I are team-teaching a class in Entrepreneurship at Princeton, and the professor gave us the assignment of writing two pairs of blog posts to tee up discussion with the class. The first two posts were mine on selecting investors and Fred’s on selecting investments. This is my second one…and Fred’s post on the other side of the topic is here. Once you’ve done a venture financing and the smoke clears, you have to transition…
Selecting Your Investors
Selecting Your Investors Fred Wilson has been a venture investor and director in Return Path since 2000, first with Flatiron Partners and then with Union Square Ventures. We’ve been through a lot of wars together. In a couple of weeks, he and I are team-teaching a class in Entrepreneurship at Princeton, and the professor gave us the assignment of writing two pairs of blog posts to tee up discussion with the class. This is the first one…and Fred’s post on the other side of the topic is here. Next week, we’ll address the topic of building a successful CEO-VC partnership once it’s established. If you’re fortunate enough to have built a really strong early stage company, you will find yourself…
The Boomerang Club, or How to Quit Your Job, Part II
The Boomerang Club, or How to Quit Your Job, Part II My post last week on How to Quit Your Job has generated about two dozen comments as well as a really lengthy thread on Y Combinator’s Hacker News. My various replies to comments are worth summarizing here – this is a reprint of my comment on Hacker News: First, my post was not intended to be general advice to employees of all companies on how to handle a situation where they’re starting to look for jobs. Of course, many environments would not respond well to that approach. My point was just that that’s how we encourage employees to handle the situation at Return Path, and we have created a…
Startup CEO (OnlyOnce- the book!), Part IV – Book Launches Today!
Startup CEO (OnlyOnce- the book!), Part IV – Book Launches Today! My book is officially on sale on Amazon and iTunes today. The full detailed outline is here if you’re interested, and the link to buy it is here. This is very exciting. I had been saying for a while that I had no idea whether 50 people would buy it or 5,000, but the publisher (Wiley) tells me we had over 2,000 pre-orders, so that’s a great start, at least. So thanks to those 2,000 brave souls, and anyone else who buys it as well. I hope you enjoy it and look forward to your feedback directly, via OnlyOnce, via the #StartupCEO hashtag, via a rating/review on Amazon, or…
Startup CEO (OnlyOnce- the book!), Part III – Pre-Order Now
Startup CEO (OnlyOnce – the book!), Part III – Pre-Order Now My book, Startup CEO: A Field Guide to Scaling Up Your Business, is now available for pre-order on Amazon in multiple formats (Print, Kindle), which is an exciting milestone in this project! The book is due out right after Labor Day, but Brad Feld tells me that the more pre-orders I have, the better. Please pardon the self-promotion, but click away if you’re interested! Here are a few quick thoughts about the book, though I’ll post more about it and the process at some point: I’ll be using the hashtag #startupceo more now to encourage discussion of topics related to startup CEOs – please join me! The book has…
Best CEO/Entrepreneur Quote Ever, By a Mile
Best CEO/Entrepreneur Quote Ever, By a Mile I’ve seen and heard a lot of these. But perhaps it’s fitting that on Independence Day, I realized that this gem of a quote, not specifically about entrepreneurs or CEOs but very applicable to them, comes from President Theodore Roosevelt in his “Citizenship in a Republic” speech at the Sorbonne in Paris, April 23, 1910: It is not the critic who counts: not the man who points out how the strong man stumbles or where the doer of deeds could have done better. The credit belongs to the man who is actually in the arena, whose face is marred by dust and sweat and blood, who strives valiantly, who errs and comes up…
Book Short: Deep Dive on Customer Development
Book Short: Deep Dive on Customer Development I continue to be on a tear reading books about startups as I finish and get ready for the publication of Startup CEO (now available for pre-ordering at Amazon). This week’s selection was The Startup Owners Manual: A Step-by-Step Guide for Building a Great Company, by Steve Blank and Bon Dorf. This book is a significantly more detailed version of Blank’s first book, The Four Steps to the Epiphany, which was a revolutionary book a few years ago that helped spawn the Lean Startup movement. And when I say significantly, I mean it! The Startup Owners Manual is 600 pages of really detailed how-to around the first two steps of Blank’s four steps,…
Book Short: Like a Prequel to My Book
Book Short: Like a Prequel to My Book How to Start a Business, by Jason Nazar, CEO of our client Docstoc, is a great and quick (and free) eBook that feels a lot like a prequel to my book Startup CEO: A Field Guide to Scaling Up Your Business (original outline here). My book is about scaling a business once you’ve started it. Jason’s book is a really practical guide to starting it in the first place. The thing that’s particularly good about this book is that it’s as much a resource guide as it is a book. At the end of each of its 24 chapters (and within them as well), Jason adds a series of external links to…