Management Wisdom: Firing People

I’ve had to fire quite a few people over my past n companies. Some firings went really well. Others were a complete disaster, especially when I had to fire those that were consumed by the Dark Side. Wish I had read “When Firing Someone, Focus On Those Who Remain” back then. And if you’re planning on starting/running/building a company, I suggest you read these links too.

Still watching broadcast TV?

Scanning through this TechCrunch post Whither Television Programming? drove me to jot some quick thoughts on the future of TV:

I rarely, if ever, sit through an entire broadcast TV program. I do, however, watch about 2 hours of recorded TV a day and probably another 1/2 hr of Internet-downloaded videos.

I can easily see a day when you will simply subscribe to your favorite video entertaiment via vodcasting (video clips delivered to your computer via podcasting technology) and never go near your cable TV again.

In fact, many will argue that day has arrived already, with the ever-growing lists of vodcasts one can subscribe too. Maybe so, but those are still in the amateur category. I want to subscribe to my favorite news program and watch it on my laptop/pc/media center.

I think the big question/challenge for the traditional media is how to not lose ad revenue. How do you stop people from FFing through the ads?

Easy, but hard: Make the ads relevant to the viewer. Develop a 1-1 with me and what I’m looking for. Do that, and I’ll probably hit rewind and play the ad a few times.

Do you really need a superstar executive team for your startup?

A startup needs a small, lean team where every person can perform some key aspect of product development. This lets you get to market cheap and fast. What you don’t need in the startup stages is a superstar CxO team (CEO, COO, CFO, CxO).

Why? Several reasons:

  1. High level executives are used to directing, overseeing, and building teams of people around them. They don’t usually do the actual work. I once hired a “Marketing VP” in one of my small companies, assuming she would do it all and save me money, but I quickly found out that she herself couldn’t really do the work and was used to having the “Agency” get the job done. I got far less than what I needed but it cost me way more.
  2. CxOs don’t *really* want to do a startup, blood-sweat-tears-wise. They want to leverage their contacts and experience and direct *everyone else* to get the work done. This is a very needed skill, later on in the game, but not at the very beginning.
  3. CxOs want (and perhaps deserve) to get paid a lot, but your company might be too small or to nascent to take advantage of what they can really do. It’s like using a steam shovel to dig a small hole. Sure, you can do it, but you could have also dug that same hole with a hand-held shovel that’s sitting in your garage.
  4. True CxOs consider themselves mercenaries, and if the tide turns the wrong way, very little holds them back from jumping ship. I remember talking to a potential strategic buyer one day who was super proud of this awesome Fortune 1000 CEO he had hired, only to see the shiny new executive leave the company holding the bag less than a year later.
  5. If it’s your startup, remember, it’s really up to you and your small band of brothers to get the job done in the early stages. Get your product up and running with some customers and ideally some revenue. Then get a *list* of potential CxO candidates who are interested so that when you start building up relationships with your investors, you’ll still be lean and mean, yet have a pool of talent you can pull from when you need to.

    Thanks to Ed Sim’s “Top-heavy teams” which motivated me to write mine.

Success checklist for software startups

Kleiner Perkins has a condensed list that describes what the ultimate software startup needs. I suggest you ask someone other than yourself (or anyone else in your company) measure your product against this list and rate how well you do against each point:

  • Instant Value to customers – solve a problem or create value with the first use
  • Viral adoption – Pull, not push. No direct sales force required
  • Minimum IT footprint, preferably none. Hosted SaaS is best.
  • Simple, intuitive user experience – no training required.
  • Personalized user experience – customizable
  • Easy configuration based on application or usage templates
  • Context aware – adjust to location, groups, preferences, devices, etc.

Hat tip:

Don Dodge

Paul Kedrosky

xb0x 360 rocks, but not for the games

I recently received an Xbox 360 as a gift from a new family member and so far I am loving playing my favorite console/network mulitplayer game, Battlefield2 Modern Combat

But that’s not why I love my 360.

Truthfully, the games just ain’t there yet. Sure, the HD resolution is cool but so far I’ve not seen any games that have really taken advantage of the new power. But what is totally awesome is the 360’s ability to tap into my media library.

Over the years, I’ve collected hundreds of gigabytes of music (legally!) and digital photos. Up until now they’ve been relegated to being viewed on my computer screen or heard through my computer speakers. The 360 has changed all this.

Using Media Connector (a free MS download) on the XP boxes in my home network, coupled to the 360 via our home wireless lan, I can now listen to all my music and watch all my photos via our home theater system. The 360 easily connects to our Media Connector-running PCs, accesses all the content it needs, and streams it to the TV & HiFi.

So now when my wife and I have a coffee and talk, I fire up the 360, play my fav. tunes, and run a random shuffle of family photos. We get the perfect backdrop to whatever we end up talking about, and finally the thousands of kid photos we’ve taken are given their just deserve: Center Stage in the family living room.

I would highly recommend you look @ the 360 if you have a similar situation, that being:

  • Tons of digital music & photos stored on XP machines.
  • Wireless Lan in the house
  • Home Theater

Really piss off your windows friends with your Mac’s Vista interface

If you love the Mac, you’ll LOVE this video which has taken the audio from a Microsoft presentation about the new Windows Vista inteface and overlaid it with a demonstration of Mac OS-X.

I’ve not had a Mac since ’84, but I’m going to take a serious look at one now, since it runs XP.

But when I look @ this video, it’s extremely (painfully) clear that the Mac is lightyears ahead in its interface. wow.

Do you have a wealth-oriented mindset?

I don’t think it’s possible to achieve long-lasting wealth without the proper state of mind. Although I have not bought his book, T. Harv Eker’s “Secrets of the Millionaire Mind: Mastering the Inner Game of Wealth” does have this list that illustrates a wealthy mindset vs. a poverty mindset.

Take a long, hard, honest look at the list and decide where you belong. I think this helpful tool illuminates areas you might need to work on.

  • Rich people believe “I create my life.” Poor people believe, “Life happens to me.”
  • Rich people play the money game to win. Poor people play the money game to not lose.
  • Rich people are committed to being rich. Poor people want to be rich.
  • Rich people think big. Poor people think small.
  • Rich people focus on opportunities. Poor people focus on obstacles.
  • Rich people admire other rich and successful people. Poor people resent rich and successful people.
  • Rich people associate with positive, successful people. Poor people associate with negative or unsuccessful people.
  • Rich people are willing to promote themselves and their value. Poor people think negatively about selling and promotion.
  • Rich people are bigger than their problems. Poor people are smaller than their problems.
  • Rich people are excellent receivers. Poor people are poor receivers.
  • Rich people choose to get paid based on results. Poor people choose to get paid based on time.
  • Rich people think “both.” Poor people think “either/or.”
  • Rich people focus on their net worth. Poor people focus on their working income.
  • Rich people manage their money well. Poor people mismanage their money well.
  • Rich people have their money work hard for them. Poor people work hard for their money.
  • Rich people act in spite of fear. Poor people let fear stop them.
  • Rich people constantly learn and grow. Poor people think they already know.

Building a Winning Business Plan

Mahalo Nui to Monte Littlefield of Pipeline Communications and Technology for putting together this presentation on Building a Winning Business Plan.

It’s short, simple, to the point, and most importantly, is the result of Monte’s own personal experience in raising Angel funding for his fledgling company. He worked his relationships with Hawaii’s VC community for over a year and has proven himself to be a coachable CEO that listens to the right people at the right time.

Monte, we’re all cheering for you man. Go baby!

Tech Entrepreneuring – the ultimate reality program

Here’s a presentation I made thanks to www.htdc.org folks. Mahalo Nui to Sandy Park, Laurie Akau, and everyone else over there for their hard work in putting this together.

Good fun!

What I talk about in this 1.5 hr presentation is:

– How to ride a tech trend up, down, and out with class.
– What VC’s look for
– A slightly different model for starting up companies with far less capital yet with similar gains.

– a small dose of a spiritual perspective on success

Let me know what you think!