As a Founder, Do You Really Want to be Working for Someone Else?

In this week’s “No Mercy/No Malice” Scott Galloway describes the coming shift in VC funding.

His premise: as capital becomes scarcer, we’ll see an increase in down rounds. He adds, “Founders rarely get fired, but you should expect to see a rise in tweets announcing how thrilled these thirtysomething wunderkinds are to have the wisdom of a new CEO (who the board forced in above them).”

Do you really want to be the Founder tweeting that news? How can you avoid that fate?

Ridiculously plentiful capital is no longer a growth constraint. Growth (and further availability of capital) will be fueled by new metrics: employee retention, promotions, job satisfaction, time to new hires,etc. Even the SEC is talking about developing measures for public companies to report on their human capital. VC’s are already starting to ask for this information. Who cares how great your idea is, the initial traction you’re getting and the great people on your team if you can’t hire more of them to fuel the next stage of growth (and keep the ones you have just to maintain your current pace). A VC looking at two similar companies, both with similar metrics except those regarding human capital, will choose to invest in the one with better retention and attraction stats.

Your talent metrics are likely already lagging or worse; you may not even realize the depth of the problem in your organization.

The most common reason people leave companies is because they don’t like, respect or get along with their manager. And potential hires really do look at online reviews and talk to your current staff about what it’s like to work there. If your senior team leaders, and their team leaders are the problem, then You have a problem. And you need to fix it. Fast.

So what’s the best way to do that? Coaching.

Founders who have been coached understand that coaching is an incredible value multiplier. And if it‘s been so beneficial to you, why would it be any less valuable to your key team members?

So now you have a choice: business as usual (and being the one in six months tweeting how great it is to have a “seasoned CEO” joining your company) or taking action now and instead being the one whose investors tweet: “So excited to announce our Series X investment in Company XYC under the incredible leadership of Founder/CEO “Jane/John Smith”.

The choice is one you need to make (unless you like working for someone else).

Let's schedule some time to talk in San Diego at CREtech

stevegoldin@proptechcoaching.com

www.proptechcoaching.com